I applaud you for the efforts relative to the LSG analysis, but I still think it is high . . . some costs not included and I am not sure if you took the recovery rate, income tax, interest, etc. into account. All the same, I am not posting due to the LSG analysis.
The interview you mention has a number of points that glared at me. For example, on repricing options/warrants, CD said it is not possible to reprice them, only extend. Well then what is it that they tried a little over a year ago with management options, and then cancelled the plan? I have seen warrants repriced. The numbers talked about were sort of wishy-washy. The high number used for in-ground gold in good jurisdiction with good infrastructure I took to mean good infrastructure - not in the area but at the site so as to be immediately minable, not buried 1000 meters of solid rock deep. All in all, I came away from that interview reassured in the impression that the CEO of EXS is likely good at geology but neither agile nor well-informed in regards to finance whatsoever. jmo
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