Andrew Malim brought in over 7,000,000 shares of buying and over $3m of placement $$$ in the December 2010 financing. There are many rumours and opinions out there but A.M. did everything in his power to assist in establishing the committees that are now required by the regulators. He did a great job during the 2009-2010 period. Where the entire deal started to break down was two weeks before the drill results were announced (Feb 2010)when CD and one other Director sold stock in the $1.10 + range BEFORE the results were released. While there was nothing out of order in these sales, they "appeared" to be classic "pump and dump" and the stock has never recovered credibility since the $1.63 peak in late February 2010. Most exploration companies order a freeze on transactions when a speculation on a drill program gets frenzied (such as LSG). EXS management did exactly the reverse.
The TPW project has enormous potential but it also has enormous expense associated with it. Each deep hole is $250,000 and the wedges are about $150,000 each. Each 100 metres along strike is one pilot hole plus 3 or 4 wedges adding 500,000 ounces so the current $10m funding will allow them to step out at least 10 times. So IF they hit the same width in every pilot and then hit on every wedge, you could see 5,000,000 ounces UNLESS the zone pinches out or they are unsuccessful in their targeting.
This needle needs to be threaded very carefully in order to reach that inflection point referred to in the BNN interview so while the potential is enormous, it is the RISK that has the market spooked. Explor is drilling a "major mining company project" with a "junior mining company budget" where one slip-up could derail everything. Get a partner like AEM or G or ABX and the world will breathe a sigh of relief and the share price would double overnight. The stock is very, very cheap sub-$.30 IMHO and what will trigger the next big SUSTAINABLE move is the $65 billion question.
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