# EXM - Excalibur Mining Corporation



## moneymajix (16 July 2007)

Up over 13% this morning.

Closed at 2.9c and ran up to 3.3c


Last ann. 
15 Jun 2007 10:48 ! Airborne Electromagnetic Survey - Tanami


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## nizar (16 July 2007)

Yeh i bought some in this mornings open.
When i saw it was gonna open at 3, probabilities said it was gonna run like a champion.

Should spark a run over the next 1-2 days.


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## moneymajix (16 July 2007)

Hi

It would be interesting to know if there is some news soon.

It has been creeping up for a little while.


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## nizar (16 July 2007)

There have been 1-2mil orders taking out sellers all day now.

But nice to see 5 mil clean up the 3.5c sellers.

YT was that you spending last week profits? :

If you have time can you do a write up on this one to take it to double digits. thanks bro LOL.


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## moneymajix (16 July 2007)

If the news is good then we won't be needing any write ups.

Let's hope so.

Last major ann. was in June.


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## nizar (16 July 2007)

I just noticed these guys have oppies.

Great leverage i reckon, 3c excerise price and long expiry december 2009.

Trading at 2.2/2.4.


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## moneymajix (16 July 2007)

Pre open

See speeding ticket response

Know nothing but have been giving presentations to brokers

Hmmm...


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## vert (16 July 2007)

im guessing here but it looks like the panicers are jumping which arent many and the smarter peoples are grabing more at better price when they thought they might not have got this chance again.


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## moneymajix (16 July 2007)

The speeding ticket response referred to the presentation to brokers (see ann. 18 June). 

Presentation looks good. What do others think?

Price holding up pretty well. Currently 3.5c which is up over 20% today.

LOL to all holders.


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## nizar (16 July 2007)

I have studied several breakouts and its always the first big volume up day break through resistance is the day to jump on.

Todays break was outstanding and significant and the volume speaks for itself.

Usually its all up from there. CHeck WMT, BLR, MPO, MAK, MLS, ADY and heaps more examples.

A stop below the low or open (whichever is lower, but usually these initial breakouts have open=low) usually NEVER gets hit.

I am going to get some more of these 2mrw at the open to add to my position. If it goes sick, i need it to count for something.

The gap up at 2,9-3c should provide some support, but as I have explained above, i dont expect this to trade below 3c in the forseeable future.


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## woksta (17 July 2007)

Good call there fellas.  Up another 15% on a big day.  Was able to grab a small parcel yesterday, albeit could have go them a bit cheaper today if i had waited but seem to have a habit of doing that!  Happy to hold and see what all this interest is about....


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## nizar (17 July 2007)

nizar said:


> I am going to get some more of these 2mrw at the open to add to my position.




I did as intended and double my position at 3.4c.

Did you see the professionals step up just before the close??! 

I kid you not when i left the house at 3:45pm there was 28mil volume and the price was 3.6 last and 3.6/3.7.

This stock is a winner.


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## moneymajix (18 July 2007)

HI Nizar

I bought more also.

High today of 4.2c from 3.7c open.

Currently 3.7c but forsee that we will see more increases.

LOL.


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## imaginator (19 July 2007)

volume has been very high and its having a breakout from the sideways. 

I bought at 0.021 few months bank, and finally its resurrected from the dead! Almost doubled! (Anyway is that considered 100% increase?) Hope it will fly to the heavens!!!


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## moneymajix (19 July 2007)

Imaginator

Congrats on your 2.1c buy.

4.2c would be 100%. But I guess you are still holding.

Lets hope the news is good.

Rest day today. Maybe more action tomorrow.

Close 3.7c.


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## nizar (20 July 2007)

I think this one is gonna go big time on Monday.

The chart is textbook and most t+3 sellers would already by out by the end of today.


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## exberliner1 (23 July 2007)

I have been following this one for a while..

Recent volume would certainly suggest something very positive is underway.

about 25% of the company changed hands last week and EXM seems quite happy to hold above 3.5.

Plenty of chomps last week in the millions so the ask depth upto mid 4s will not hang around once we start moving again.

One to keep on the watchlist if you haven't bought some already.

EB


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## nizar (24 July 2007)

If this is gonna go big time, then 2mrw will be the day.
A pity couldnt manage a higher close 2day, so theres a bit of resistance at 3.8c now.

But a close above 4c and this will run like a champion.


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## moneymajix (24 July 2007)

Hi guys

The options were up over 10% today.

Closed at 0.021c.

What is better value, the options or the shares?


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## imaginator (25 July 2007)

why do u say its going up?

Is it going to relase any exciting news? The chart looks good tho! Lots of room to grow


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## exberliner1 (15 August 2007)

Well I dont know about you lot but I see this as a decent buying opportunity..I have been accumulating sporadically over the last month...so I am down a little bit at the moment but I wanted to build a big position before the drilling starts.

Below is a post I put on HC...

_______________________________________

 have been busy accumulating this one for about a month now.

I am taking a 3 month view .... lets see if EXM will pay for christmas this year like JMSO and MMB paid for Christmas last year.

Sometimes it is an idea to look outside the companys presentations and see what is happening right in front of your eyes.

There is an obvious capper sitting there slowly pushing the market down and presumably picking off the sellers on the buy side. Thanks Mr Capper you are saving me money as I buy more.

Taking a 3 month view we know the following:

1) The existing gold reserves are there and are real

2) A drilling campaign is about to start on the best of the tennements.

3) EXM has about $3.3mn in cash on the balance sheet

4) From the last quarterly ....Approximately 10,000m of RC and 4,000m of diamond drilling is planned during the next month or so

5) This program is directed towards a resource upgrade and will cost $1.5mn ....which they have just sitting there.

6) They have appointed a Senior Exploration Geologist ...er.... just look at his job title and CV...stints with POL amongst others.

7) The new geologist also has experience in mineral sands and laterite nickel....could that be a clue ... lol.

8) Then there is the U308 story within EXM ...

What chance a spin off and a recapitalization going forward to the end of the year.

And finally....I am down on my position in EXM and EXMO but I dont care as I am taking a 3 month view here.

If I am correct in what EXM has going for it then the several million heads and oppies I have bought and the stock I am yet to buy will produce an excellent return by christmas.

Let Mr capper do the work in bringing the price down for us ... buy EXM and look away for 3 months.

____________________________________________________

Or am I alone in seeing some serious upside here?

Any comments?

EB


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## exberliner1 (4 September 2007)

Also posted on HC today

__________________________________

Depth seems to have suddenly become rather positive today in EXM.

From 1.5 - 2.4 there is about 19mn on the bid 

and from 2.5c - 3.5c only 11mn offered - (Of which only 6mn is offered upto 3c)

Depth seems to have increased on the bid side and reduced on the sell side with not very much available upto 3c....

With a stock at these levels single orders of 1mn+ are really quite common so we could on the verge of a re-rating back to where EXM was prior to the recent market silliness.

After all 530,000 ounces of JORC'd gold and enough cash sitting on the balance sheet ($3.3mn ) to pay for the next few quarters - there is certainly enough reason to buy EXM.

The JORC'd gold is described as cheap to mine and the grades are good.... see the June Investor presentation

Don't forget an 1800km survey was flown in August over one of the tennements in league with PXR (results for which are imminent)and drilling with 2 rigs is due to start this quarter with a view to substantially increasing the JORC.... mkt cap is only about $28mn.

As you can imagine I do hold a useful position in EXM both the heads and oppies.

The oppies mature in december 2009 (thats not a misprint) more than 2 years to go and have a strike of 3c.... keep them on the watchlist.

While a 0.1c rise on Monday and the same today is not much the shift of balance in depth to the buy side certainly points to some useful percentage gains being up for grabs in EXM over the next few days / weeks.

Any comments??

EB


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## moneymajix (4 September 2007)

EB

I am a holder and like the potential of this stock.

Have noticed the steady but slow price rise of late. 

I am sorry I didn't buy more around sub 2c but no funds at the time.

LOL.


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## exberliner1 (4 September 2007)

I hoovered up 3mn heads and 3mn oppies during the recent silliness...didnt quite call the bottom....but I was close...



EB


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## moneymajix (4 September 2007)

EB

My goodness.

So let me postulate a theoretical example.


3 million shares @ 2c =  $60,000

3 millions shares @12 = $360,000

Potential profit = $300,000


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## exberliner1 (4 September 2007)

Not quite moneymajix.....I didnt call the exact bottom and bought at a variety of prices.... so my profit is currently relatively small.

I do however think EXM could quite easily go to 10c+ so I am now well set for $60k a cent in profit  between the current price and the 10c I would expect by christmas.

Believe it or not my oppies position has only just moved into profit.

EB


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## moneymajix (5 September 2007)

2.7c
Up 12%

This has been making gains this week.

Looking very good.

Good volumes.

Gold price up too which is helpful.


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## exberliner1 (5 September 2007)

And one more thing we must not over look.

Lake Lefroy...

JV with IGO....check out page 39 of the IGO Investor presentation from 23.04.2007.....

This project has enough promise for IGO also to mention it in their presentation at the Diggers and Dealers event earlier this year.

The survey of lake lefroy was postponed in June due to inclement weather. This was to be taken using a SQUID TEM system...er...whatever that is 

Could we also see that underway this quarter as well?

If so it gives us the following for this quarter:

1) The results of the PXR / EXM radiometris survey

2) Commencement of drilling with both a diamond rig and an RC rig with a view to substantially increase the JORC'd gold reserves

3) Full details on what lies in lake Lefroy.

Plus what we know....$3.3mn on the balance sheet and 530,000 ounces of JORC gold.

Lol.... I have a big position in EXM and EXMO.

EB


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## moneymajix (5 September 2007)

My first post with attachment chart from Big Charts.

Close at 2.6c. High today of 2.9c.


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## exberliner1 (5 September 2007)

It really closed at 2.7.... the 2 orders that formed the closing auction were sales at 2.6c with a total value of less than $500...

Looks like someone wanted a sligtly lower closing price.

Anyway..doesnt matter...it all looks good near term...especially the oppies with a 3c strike price and maturity end of 2009...

I am based in Germany at the moment so it is a pleasure to turn my computer on each morning after the aussie market close and see the increased interest in EXM's SP.

EB


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## moneymajix (5 September 2007)

EB

I read the other day it is quiet inexpensive to live in Berlin.
Is this true?  If so, why?

A Lucky Money Pig for the Year of the Pig for EXM holders is attached.
Safety conscious pig wearing a helmet!

PS: You may have heard George W and lots of world leaders congregating in Syndey for APEC. Is it in the news in Germany?

Cheers


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## exberliner1 (5 September 2007)

almost 20% unemployment in Berlin....and no real industry moneymajix - so prices have to be lower there, its in the middle of the old East germany and next door to Poland....best to check it out on the web.... www.expatica.de is a good website to peruse...
I was paying about Euro 300 per month to share a 160 sq mtr appartment with one other person...20 minutes to work by bicycle along well defined bicycle paths ... luxury. Sydney had better weather though 

this thread is for EXM though so I wont write anymore about Berlin here.

EB


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## exberliner1 (14 September 2007)

After a quiet few days we finally have a bit of volume in EXM

And...

If you look at the numbers in the closing auction we have

2,516,427 bought at 2.8c
483,573 left on the bid at 2.8

Funny... that adds up to 3mn .... looks like one buyer wanted 3mn heads at 2.8c - the weeks high - or AU$84k worth.

I can think of worse ways to finish a week.

Keep an eye on EXMO as we the heads approach the strike price of 3c.



EB


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## exberliner1 (19 September 2007)

Great ANN today...

Historic drilling gives us:

12,883 G/T Au ..............NOT A MISPRINT
32m @ 670g/t Au
20m @ 333g/t Au
6.7m @ 833g/t Au
36m @ 210g/t Au

Drilling about to start with 2 rigs...EXM has 530K Gold JORC.

Did anyone else notice this ANN??

keep an eye on the oppies as well as the heads are approaching the strike price.

And yes....I hold loads of these.

Be happy

EB


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## moneymajix (19 September 2007)

EB

Of course, noticed.

Just didn't post. 

Happy days, fingers crossed.

Maybe there are silent ASF holders out there!


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## mick2006 (24 September 2007)

Looks like exm is waking up again today, not surprising really given the fact they are shortly commencing a large scale exploration program in an area of historically high gold results with some hits at over 12000 g/t quite incredible.

With two rigs going at the same time expect to hear quite a bit of news going forward.

Also it is important to note they already have reserves of over 500,000 ounces at very nice grades, so expect some serious upgrades to the existing resource before the end of the year.

This is one to really watch going into the end of the year.


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## exberliner1 (24 September 2007)

Agreed.... I got on board big time during the correction...am nicely in profit now but I still think we have multiples to go from here...

I fully expect EXM to pay for Christmas this year. (See earlier posts).

The roadblock at 3c has disappeared which should see the bids take the lead for a while..

Happy days

EB


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## mick2006 (24 September 2007)

with gold and oil the two hot sectors at the moment, the momentum is certainly behind the specs in these sectors.

So I went in search of a company that had both current reserve's and also near term meaningful exploration, and thats where I came accross EXM.

*With current reserves just over 500,000 oz's of gold at a very healthy head grade of 7 g/t meaning a very profitable operation, and also an upcoming dual rig 15,000 metre drilling campaign to both confirm historical results and also some further exploration drilling, with historical results of greater than 12,000 g/t au the upcoming campaign has the chance to seriously move the shareprice.*

See last weeks asx announcement for the full table of historical results, there a some massive hits.


*http://www.asx.com.au/asxpdf/20070919/pdf/314m8gkqxfwhf5.pdf*


Also in a recent company presentation they realised a comparison of their shareprice versus the gold price, very interesting to see how much the company could be worth going forward, below is the link to the presentation.

*http://www.asx.com.au/asxpdf/20070618/pdf/312zqlrcjj2h54.pdf*


I had been hoping to grab a few more at a bargain price, but the market seems to be rediscovering the potential in EXM, and judging by the volume today it seems punters are not waiting for confirmation of the start of drilling at Tennant Creek to jump aboard.


I will be putting together a more indepth look at EXM sometime this week (when I get a chance) in the meantime would be interested in ASF members views on EXM.


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## exberliner1 (24 September 2007)

Mick, I have posted quite a lot on this over the last few months both here and on HC... there you have my reasons for holding.

Whatever you do don't forget the Lake Lefroy prospect...there should be some action on that front this quarter as well in addition to the aeromag survey and the 2 drilling rigs beginning and the 530k ounces in JORC bein upgraded.

;-)

EB


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## mick2006 (25 September 2007)

good to see some of the overhead resistance is getting a good workout today, about 6 million shares have been taken out between the 3.1-3.3c level.  It is opening up nicely leading into October when the drilling at tennant creek is due to commence, and judging by the reaction to Rau's announcement there is no shortage of money waiting to find a home in a spec miner leading into a drilling campaign.

very positive that new buyers keep coming in at 3c with a few sellers coming down and not being replaced.


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## mick2006 (25 September 2007)

very interesting that someone would place a 4 million share order so late in the day.

could there be some news on the way?

also the buy/sell ratio is now very much in favour of the buyers, with buyers coming in and sellers not being replaced.


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## Sean K (26 September 2007)

Looks to have well broken 3 cents which is good darts. 

Mick, been reading the anns to get a feel for it. Looks pretty high grade, but how's the potential tonnage? 

kennas


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## mick2006 (26 September 2007)

hey Kennas, I was asking myself the same question before I bought in the best way to compare what the potential tonnage maybe is to look at the june presentation where they talk about location and they are smack bang in the middle of some very large deposits around the 5 million oz mark which could be huge.

I guess the main short term driver is the upcoming exploration at Tennant Creek and the fact they are trying to verify some incredible historical grades over 12000 g/t and if they got any hits anywhere near that level can you imagine what would happen to the share price.

They currently have a JORC resource of 530,000 oz at a head grade of 7 g/t which is nothing to sneeze at, and the fact that they are seeking out more oz's leads me to believe they think they can substatially increase the tonnage.

hope that helps but check out the company presentation for june a good read.


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## motion (27 September 2007)

G'day Guys, 


The MD Mr Alex Bajada has given a great talk on the boardroom here is the link. 

http://www.brr.com.au/event/EXM/1849/32111

WOW he is looking for a 1.5 million to 2.0 million ounce resource upgrade on the current figures. Tennant creek had produced over 200 million ounces of gold in pervious mining operations. 

Looks like management are really starting to get this company on its feet, I’m still trying to get through all the history of the area but sounds like they are going to really have some good results. 

Back to reading..


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## exberliner1 (27 September 2007)

On the Boardroom Radio interview the MD of EXM states he is looking to increase the JORC by a further 2mn ounces of gold with the upcoming drilling.

***** DON'T FORGET*****

The guys at EXM have spent the last 9 months analyzing all the historic drilling results and building geo models of the tennements.... apologies if I am not being very technical here.

So - they should know where to drill for the best results. 

_____

Just for a laugh - doing some quick back of the envelope type calculations I get the following:

2.5mn ounces of Gold at US$750 per ounce (I expect gold to be much higher than this by the end of the year).

Anyway the 2.5mn ounces gives us

US$ 1,875,000,000 (approx)

US$ 1,875,000,000 = AU$2,137,500,000 (approx)

Now....bearing in mind that this lot is generally high grade and reported to be easy to mine then taking 10% of this as a mkt cap we get the following:

AU$ 213,750,000 / 1,400,000,000 shares = AU$0.15 (approx)

So... if the MD is correct with his assessment and valuing the in ground at 10% we have 15c per share.

Then you have to add in the other projects which at 15c would be sitting there for free.

Is it any wonder the sell depth is getting smaller by the day.... while the buy depth is growing.

Now if the MD is being a bit conservative with his comments in the interview then it is more than 15c...

Lol

EB


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## mick2006 (29 September 2007)

Finally got the chance to listen to the recent board room radio interview, very encouraging that they are talking about a massive resource upgrade to possibly 2.5 million oz's.

As EB has been saying keep a close eye on this one from late november through to early January, because if they even get close to some of their historical drill results this one could not only pay for christmas but lead to an early retirement.


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## imaginator (8 October 2007)

will they release a BFS? 

I think it will boost up the share price.


by the way my friend asked me does anyone remember a gold stock (UOM? OUM?) that shot from like 90cents to $10 after it struck gold? It was like 2 years ago.


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## imaginator (8 October 2007)

Ok someone told me it was AUM. 

Do you think EXM could also shoot to $10?

What do you expect from EXM?


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## juw177 (8 October 2007)

imaginator said:


> Ok someone told me it was AUM.
> 
> Do you think EXM could also shoot to $10?
> 
> What do you expect from EXM?




Stop being so conservative. I expect it to shoot to $100 by 2009.
Imaginator, you didnt buy in at 4c did you?


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## Sean K (9 October 2007)

imaginator said:


> Ok someone told me it was AUM.
> 
> Do you think EXM could also shoot to $10?
> 
> What do you expect from EXM?



Imaginator, I know you're joking when even remotely suggesting this could go to $10 on this occasion, but I would like to just add that it would be REALLY GOOD  if you provided some basic analysis when you compare stocks to provide a potential valuation. Cheers, Kennas


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## imaginator (9 October 2007)

It's ok to ask a question without any facts. It is ok to dream and wish and hope and speculate, and most of all it's ok to gather information by asking a question. thank you


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## Sean K (10 October 2007)

imaginator said:


> It's ok to ask a question without any facts. It is ok to dream and wish and hope and speculate, and most of all it's ok to gather information by asking a question. thank you



Of course it's OK to ask some questions but why not add some value too by doing a little research yourself and adding it to the forum? 

Why do you even ask the question could it shoot to $10? What are the similarities between this and AUM, or whatever stock you are thinking about? Is it because you expect the drilling program to produce something like 50m@500g/t au? 

At a sp of $10 with about 1450000 shares fully diluted it's market cap would be $1.45b. With 500k oz au JORC....hmmmmm. 

In regard to BFS, they might wait untill they've got the drilling results from the drilling program (which doesn't start till end Oct) before even considering further drilling to deliniate the resources before then doing a Scoping Study, then PFS, then maybe a DFS, and then BFS....possibly in a couple of years time....

Looks to be holding above support at 3 ish.


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## exberliner1 (10 October 2007)

Agreed kennas ....however.

As I have mentioned before EXM has spent the best part of 9 months going over all the historic drilling data going back for decades. The cut off for a lot the older drilling was about 20g/t so there is plenty potentially  left there for us shareholders.

Remember CDU (AUM) was able to find a monster deposit in an area that had been prospected by majors in the past... so there is a precedent ... it has happened before.

What intrigues me is the potential for huge grades here. Short term all EXM needs to do is publish a pretty photo of visible gold in initial drilling pipes. That should really get the market excited.

That aside (given the lack of speed of assay labs in Australia) it may be December or even January before final results are out. This drilling is being done to increase JORC - the MD has mentioned he hopes to find another 2mn ounces - I think he is being conservative and they should find more than this.

With 532k ounces already in the JORC bag and more to come - I would expect regular updates during the drilling which will keep the SP bubbling along.

Also don't forget:

Lake Lefroy 
The results of the Aeromag survey due any minute now.

I have about half my investment capital tied up in EXM and am sitting on a nice profit already but I only see upside from here with ANNs expected on a number of fronts.

Be happy 

EB


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## imaginator (24 October 2007)

exberliner1 said:


> Agreed kennas ....however.
> 
> As I have mentioned before EXM has spent the best part of 9 months going over all the historic drilling data going back for decades. The cut off for a lot the older drilling was about 20g/t so there is plenty potentially  left there for us shareholders.
> 
> ...




Annual report is out today! It talks about their projects and company reports. Let's see if it excites the market?


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## juw177 (24 October 2007)

Its been out for a few hours. The market isnt excited. But I will watch this one and try to pick some up for cheap if the market goes a little nuts over the next 2 weeks.


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## imaginator (24 October 2007)

juw177 said:


> Its been out for a few hours. The market isnt excited. But I will watch this one and try to pick some up for cheap if the market goes a little nuts over the next 2 weeks.




Oh come on market! 

Anyway I saw the director taking 140,000 in salary. 

Maybe everyone is waiting for new drilling results.


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## mick2006 (29 October 2007)

looks like the company has finally commenced drilling at tennant creek, also the company stated that the first results would be due in 1 month.

this is one to keep an eye on as some of the historical grades are unbelieveable, 12000 g/t au.

this is one of the specs that will run hard approaching the results and also on any good news.


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## rico01 (2 November 2007)

There's a far bit of interest in EXM with someone taking the opportunity to snap up 6 million in the last 10 mins


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## yuyry002 (2 November 2007)

up 12% on big volume at the moment. between exm and mhl i chose exm(dont have enough cash for both) when they both were around 3 cents. and mhl is at 4cents atm.oh well,  good enough for me.


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## gordon2007 (2 November 2007)

I've got this one on my watch list as well. Haven't bought into it yet. Was thinking about it yesterday. Snooze you lose. Bugga.


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## yuyry002 (2 November 2007)

some one bought 1.6mil shares at 3.8cents. anyone seeing this????????who is buying?


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## Absolutely (2 November 2007)

I am seeing it. My big order at 3.2c just missed out earlier today so right now I feel like puking. Refuse to chase it - drilling just started.

I guess there is a lot of promise in this drilling program and people want in early.


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## EZZA (2 November 2007)

exm oppies of 23% today, i only hold 1k of these.  not bad for chump change though, interesting to c how this one runs.


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## Sean K (3 November 2007)

Nice short term breakout Friday. Will be interesting to see the follow through. With that volume, and POG flying, you'd expect a gap up. Good for holders I suppose, but caution warranted for entry on the open IMO.

Any theories on the volume?

Maybe just momentum traders?

With drilling only just started I would expect that.


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## Kremmen (5 November 2007)

Overall market's down 2%, but EXM is up again, with almost as much turnover as Friday. It's not a massive rise, but very nice to see in a down market.


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## imaginator (7 November 2007)

Was the pickup recently based on any reports?

Or are we still waiting for more reports coming out?

It is 0.35 - 36 today.

Wonder if any of you are still picking up more?


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## Sean K (7 November 2007)

imaginator said:


> Was the pickup recently based on any reports?
> 
> Or are we still waiting for more reports coming out?
> 
> ...



I picked up some more on the break up from support. Not sure why that happened now and why it hasn't followed through with POG flying.  Perhaps was just volume buying from traders. I think that as long as POG is in the spotlight, that any decent ann on their drilling could provide support. Still very spec though. Some chance they will not come up with the goods but on the information we have it seems more probable IMO that the resource will be expanded.


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## Rob 17 (7 November 2007)

Can you stick to the facts as much as possiable and stop the spec 

Its not helpful....

DYOR


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## Sean K (7 November 2007)

Rob 17 said:


> Can you stick to the facts as much as possiable and stop the spec
> 
> Its not helpful....
> 
> DYOR



Would you care to expand on that Rob, or put it in some context? Not quite sure of your point. 

Cheers, kennas


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## AussiePaul72 (7 November 2007)

Rob 17 said:


> Can you stick to the facts as much as possiable and stop the spec
> 
> Its not helpful....
> 
> DYOR




Yes Rob .... can you please explain and expand on your comment above.... as far as i can see and from reading EXM reports to date, Kennas has told it exactly as it is


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## AussiePaul72 (7 November 2007)

imaginator said:


> Was the pickup recently based on any reports?
> 
> Or are we still waiting for more reports coming out?
> 
> ...




Imaginator, it would be nice if EXM jumped to that level now that i am on board .... we know what you mean but it should have read 0.035 - 0.036 trading today!!


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## happytown (14 November 2007)

up almost 20% today on increasing volume, currently at .037

possibly increasing interest in anticipation of drilling results seeking to confirm historical grades 

cheers


----------



## Sean K (14 November 2007)

Ascending triangle playing out. 

A break through 3.8 - 4.0 could probably send this to the distance of the broadest part of the traingle. 

This is being triggered because of POG and the likelihood of exceptional grades.

Still spec though, so be aware, but not afraid....


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## OBK (14 November 2007)

kennas said:


> A break through 3.8 - 4.0 could probably send this to the distance of the broadest part of the traingle.




hopefully this happens soon
i've got quite a bit of money invested in there.

here's to spectacular drill results!


----------



## Sean K (14 November 2007)

OBK said:


> hopefully this happens soon
> i've got quite a bit of money invested in there.
> 
> here's to spectacular drill results!



Hasn't gone through yet, so I'm reserved....

Just a relatively short term chart perspective too. 

The market is incredibly skittish at the moment, so 'trends' are far less reliable.


----------



## gordon2007 (14 November 2007)

Kennas,

I've got a silly newbie question for you. I've noticed that you often use the term "POG". I have looked but can't seem to find out what it means. Can you help? Maybe the answer in stairing right at me but still just cannot seem to suss it out. Cheers. 



kennas said:


> Ascending triangle playing out.
> 
> 
> 
> This is being triggered because of POG and the likelihood of exceptional grades.


----------



## prawn_86 (14 November 2007)

POG = Price of Gold
POO = Price of Oil


tra la la la go the 100 characters


----------



## gordon2007 (14 November 2007)

Ahhh thanks prawn. Watch out for putting in filler text in a reply, it's rumoured one can get a mark against them for that. 



prawn_86 said:


> POG = Price of Gold
> POO = Price of Oil
> 
> 
> tra la la la go the 100 characters


----------



## prawn_86 (14 November 2007)

lol, Im a moderator so i dont think i'll be reporting myself. But generally, yes if it is not an informative post and padded out it will be removed

the 100 character rule is a good one, but can be a little restricting at times. It is better with than without it thats for sure 

enjoy


----------



## Sean K (15 November 2007)

KAL spiked 100% yesterday on these results:

• 11m @ 6.69gm/t from surface (includes 3m @ 19gm/t)
• 10m @ 5.70gm/t from 62 metres
• 11m @ 2.59gm/t from 14metres
• 9m @ 3.71gm/t from 45 metres
• 9m @2.92 gm/t from 12 metres
• 14m @ 2.10 gm/t from 66 metres
• 6m @ 2.71 gm/t from 43 metres

This may have given some impetus to EXM I suspect.

Now, interesting to compare the above results to EXM:

The average grade of historic production around TC was 24 g/t.
EXM current resource of 530k oz au has an ave grade of 7.2.

If EXM manage to get some similar grades out from the drill program, might provide some interest. Obvious risk is they get nada, so it's a risk reward equation. 

Support around 3 confirmed, up 20% yesterday in what is now an uptrend IMO. Looks like a potential breakout in the making.


----------



## adobee (15 November 2007)

I am in on EXM now too.. I have paid top price but after missing out on KAL and RAU I dont care !!! I just want in on something that might run hard ...
Bring on the results .. Bring on the run !!


----------



## mick2006 (15 November 2007)

EXM is looking very strong again this morning, helped along to a degree by the surge in SP of KAL and PRE recently and also the strong rise in the price of gold overnight.

looks like the 4c level is once again strong resistance if this could be broken and held it may start to run a bit higher.

anyway should remain firm heading into the first results out of Tennant Creek due around the 1st week in december.

anyone else enjoying the EXM ride, I grabbed a very large stake around the 3c mark.


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## OBK (15 November 2007)

Looks like people are profit taking.  up over 10% now back down to yesterday's close.

I think it may stabilize at 4c for awhile until the drilling results come out.


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## chicken8 (15 November 2007)

does drilling grade tend to come out midway through drilling or does it come out same time as drilling results?


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## Sean K (15 November 2007)

chicken8 said:


> does drilling grade tend to come out midway through drilling or does it come out same time as drilling results?





How do you think they know the grade before they get the results?



Let's hope they pull up something like KAL or PRE. Punters are jumping all over these at the moment.


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## moneymajix (15 November 2007)

I heard EXM is in the November issue of Stock Resources magazine.

When are the drill results due?

Lots more interest in EXM in recent days.

3.7c.


----------



## UPKA (15 November 2007)

have a look at:
http://stocknessmonster.com/stock-trades?S=EXM&E=ASX

the sell off was rather small, just few ppl jumping to cash in their profit, probably most traded stock on ASX today, will be on alot of ppl's radar over the next few days!


----------



## juw177 (15 November 2007)

UPKA said:


> have a look at:
> http://stocknessmonster.com/stock-trades?S=EXM&E=ASX
> 
> the sell off was rather small, just few ppl jumping to cash in their profit, probably most traded stock on ASX today, will be on alot of ppl's radar over the next few days!




So the sell off was rather small but it was the most traded stock? How does that work?

Anyway, I topped up when it broke 4c only to see the retrace. Oh well, thats what I risk. Now to wait for the next attempt at breaking 4c.


----------



## UPKA (15 November 2007)

juw177 said:


> So the sell off was rather small but it was the most traded stock? How does that work?
> 
> Anyway, I topped up when it broke 4c only to see the retrace. Oh well, thats what I risk. Now to wait for the next attempt at breaking 4c.




if you look at the link from stocknes, u'll see that most buy orders were put through right after when the market opened. so quite a few ppl holding large positions in EXM. u dont need a large sell off to be most traded stock on market.


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## adobee (15 November 2007)

I bought at 4c and helped push your potenial break out only to see it retrace.. anyway I am happy to lock it away for next month and see what happens..


----------



## Kremmen (15 November 2007)

UPKA said:


> the sell off was rather small




Volume is already 10 times what it usually is for a day and we've still got 2 hours of trading left. I wouldn't call that "small".

However, it does raise an interesting question: The chartists tend to say that a rising price and high volumes is a good omen and falling price on high volumes is bad. ... High volumes and same price as yesterday's close makes it hard to know which way this is going. Lots of people getting out. Lots getting in. It's like a game of musical chairs where nobody's sure whether to play or not. 


[I hold a few EXM, but mostly EXMO, because I think they're much better value if EXM is successful.]


----------



## shaunm (21 November 2007)

Well, this one is going well!?:
Anyone have any idea why this is heading South, or if any announcements are due?


----------



## mick2006 (21 November 2007)

certainly has struggled since it hit 4.1c last week, strange given the first lot of results out of tennant creek would be due in around 1.5-2 weeks.

even earlier today it tried to go on a bit of a run and then was beaten down with a very very large sell order.

I think a few are a bit nervous about what the Federal Reserve said last night, it maybe rough in the US tonight and for a couple of weeks, until the possible Santa Claus rally.


----------



## catman (21 November 2007)

mick2006 said:


> certainly has struggled since it hit 4.1c last week, strange given the first lot of results out of tennant creek would be due in around 1.5-2 weeks.
> 
> even earlier today it tried to go on a bit of a run and then was beaten down with a very very large sell order.
> 
> I think a few are a bit nervous about what the Federal Reserve said last night, it maybe rough in the US tonight and for a couple of weeks, until the possible Santa Claus rally.




it was massive at market seller, could have been trying to keep it down 

up until then it was going great guns, heres hoping the deep drilling results are good as the gold price is gearing up for another run especially if the Fed cuts again.


----------



## UPKA (21 November 2007)

a bit strange really:

http://stocknessmonster.com/stock-trades?S=EXM&E=ASX

7m+ shares was purchased, then an hour later it was dumped... all from 28 trades... may be im reading too much into this, but could it be from the same person?


----------



## Bushman (21 November 2007)

UPKA said:


> a bit strange really:
> 
> http://stocknessmonster.com/stock-trades?S=EXM&E=ASX
> 
> 7m+ shares was purchased, then an hour later it was dumped... all from 28 trades... may be im reading too much into this, but could it be from the same person?




I saw one trade of 492,121 or something like that (cannot remember the exact number but it was distinct) go through as a buy at .035 and then the exact number was off-loaded at .036 not long after. It was quite odd as the net gain was approx $500. Thought is was perplexing too. 

No idea what is going on with EXM intra day.


----------



## catman (21 November 2007)

Bushman said:


> I saw one trade of 492,121 or something like that (cannot remember the exact number but it was distinct) go through as a buy at .035 and then the exact number was off-loaded at .036 not long after. It was quite odd as the net gain was approx $500. Thought is was perplexing too.
> 
> No idea what is going on with EXM intra day.




I must say I was watching this like a hawk today seeing some huge trades go through then at 2.50pm bang! hammered!   doesn't make sense hope someone needed the money although I am prepared to wait for this.


----------



## OBK (22 November 2007)

catman said:


> doesn't make sense hope someone needed the money although I am prepared to wait for this.




i have no idea what's happening with EXM lately.  
There've been a few good runs, but then hammered back down to where it came from. 

I would've thought that with the drill results imminent, the price would have risen a bit.  

Is it just due to everyones jitteriness about the market??


----------



## Sean K (23 November 2007)

EXM at an interesting juncture. Currently pushing up to 3.8, not shown on this chart. Looks to have gone through consolidation, to consolidation, after a few spikes to 4 ish. Potential breakout, AGAIN! 

Breaking and holding above 3.8 may be significant IMO considering this resistance. 

Perhaps the drilling has found some yellow stuff??


----------



## OBK (23 November 2007)

huge resistance at 3.8

i don't think it will break through that mark unless there are some good drill results which will probably be released end of next week


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## Sean K (23 November 2007)

OBK said:


> huge resistance at 3.8
> 
> i don't think it will break through that mark unless there are some good drill results which will probably be released end of next week



I think I agree with you OBK. The results will push it one way or the other. I've backed the previous grades to come through, or at least around what their 500K JORC is based on. 25 g/t will be a good result I think. Anything triple figures, that most of us are hoping for, should push it through, all things being equal. Just a guestimate though, Mr Market can do anything....


----------



## Gangis (23 November 2007)

Decent volume going through, i was waiting for a retrace due to the resistance at 3.8, but still pushing.

I am very optimistic on the results, i want post what my target is as i will probably be laughed at.


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## OBK (23 November 2007)

kennas said:


> 25 g/t will be a good result I think. Anything triple figures, that most of us are hoping for, should push it through, all things being equal.




actually you've got me thinking

i haven't given much consideration into what would be considered a 'good result'.  I think there are *huge* expectations of a significant figure so it may disappoint some when it gets released

if you look at KAL's results of their drilling program, the resource upgrade was from 630K ounces to 1.2M ounces
the results were no where near triple figure - mind you I haven't done any analysis of KAL, just some observations

from the boardroom interview, Alex Bajada was expecting an upgrade of 1.5M-2.0M ounces from the existing 500K or so.  Imagine what would happen to the SP if the upgrade turned out as expected 

I've got 400,000 of these so I'm hoping the drill results are as good as advertised!

just noticed 10M at 0.038.  I don't think it will break through until the ANN


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## Gangis (23 November 2007)

Kennas

Do u think there may be some capping going on at 3.8c

I think it is odd to have that many people lined up to get out at 3.8 when results are around the corner.


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## OBK (23 November 2007)

well there goes my theory.  10M gone just like that at 3.8

so much for me knowing anything!  (I really don't)

EDIT:  Another 2M gone at 3.9.  Looks like things are ramping up


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## rico01 (23 November 2007)

Well somebody just bought 10 million  odd to take out that resistance at .038
  so it might move now


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## wildmanchris (23 November 2007)

I love that feeling when a resistance level is overcome in a flash when you thought it would hang around for ever.

Is there any better feeling?


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## Gangis (23 November 2007)

Same with my theory, blown out of the water, looks like the next run is apart to get going.

Should it attempt 4c and clear this could be very big as momentum is gathering


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## OBK (23 November 2007)

wildmanchris said:


> I love that feeling when a resistance level is overcome in a flash when you thought it would hang around for ever.
> 
> Is there any better feeling?




let's hope this works a second time 

*THERE WILL BE HUGE RESISTANCE AT 0.040!*

10M at 0.038.  That's a cool $380K that's been splashed.
They must be REAL confident about the drill program


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## imaginator (23 November 2007)

OBK said:


> let's hope this works a second time
> 
> *THERE WILL BE HUGE RESISTANCE AT 0.040!*
> 
> ...




Are we able to find out who that rich daddy is?
Might be some corporate or fund manager?

God bless EXM!


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## OBK (23 November 2007)

imaginator said:


> Are we able to find out who that rich daddy is?
> Might be some corporate or fund manager?
> 
> God bless EXM!




mind you the 4M at 0.039 straight after

looks like it's stabilised (for now anyway) at 3.8/3.9

i've got a theory about the 10M @ 3.8.  
My post earlier convinced them to buy !


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## Sean K (26 November 2007)

Still hanging in the potential breakout zone, and if that volume keeps up then we'll run out of sellers and it should run from the break with the stronger hands holding on, until there's a significant enough run for them to take profits. To speculate a little, the volume on Friday could be linked to the current drilling. If the drill pigs see some visable gold in the cores it'll be hard to keep quiet. Just speculation of course. Might be just momentum/volume traders. A hold above .038 will be the start of a telling break I think.


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## mick2006 (26 November 2007)

certainly looking good at the moment Kennas it is just a matter of time before we break and hold the 4c level, it may require the first lot of results from tennant creek but it will happen.

as for the results they are due anytime in the next two weeks.


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## Gangis (26 November 2007)

Looks like there's going to be an attempt on 4c today, the anticipation of news may break 4c (or possibly a leak?) 

High volume aswell looks very promising.


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## Gangis (26 November 2007)

Just as i finished typing, 4c was cleared, now its just gotta hold and push thru!!

Some big buys are going thru and buyers keeipng jumping on board


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## wildmanchris (26 November 2007)

Well there goes the 40 cent mark.  Looks like there is some pretty strong interest in EXM again this morning.


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## rico01 (26 November 2007)

The 9 million that just went through @.041 might be what we need for it to break the shackles. A couple more like that and 4c will be history


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## nowork (26 November 2007)

wildmanchris said:


> Well there goes the 40 cent mark.  Looks like there is some pretty strong interest in EXM again this morning.




40 cent mark, that would be great. 

Looking forward to see how it goes with some hopefully positive results.


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## Sean K (26 November 2007)

Gangis said:


> Looks like there's going to be an attempt on 4c today, the anticipation of news may break 4c (or possibly a leak?)
> 
> High volume aswell looks very promising.



Looks a chance but still early in the day. Encouragingly a couple of very big buy orders gone through, but let's wait and see.

I don't like calling things intraday and intra day price commentary rarely serves a purpose other than chearleading and ramping, so I'll try not to myself. 

I stick to my earlier call of just looking forward to a close above .038, for a potential break. Will need to test that then for confirmation. Target from break should be the depth of the triangle, as identified in an earlier post.


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## OBK (26 November 2007)

my reverse curse worked again! 

in the boardroom radio interview on nov 9, alex bajada said it would take 3 weeks for the drill results to be analysed.  

this puts it around end of this week/early next week

the AGM is on Friday as well.  anyone here who is based in perth going?
it'd be interesting what they have to say about the prospects in TC and Tanami


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## UPKA (26 November 2007)

a bit of sell down from its highs. Kennas' right:"I don't like calling things intraday and intra day price commentary rarely serves a purpose other than chearleading and ramping, so I'll try not to myself."


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## Gangis (26 November 2007)

Kennas, you were right -  i came out with the call intraday that 4c had be cleared. I was suprised by the rapid retrace, i hope the next attempt is more successful.


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## mick2006 (26 November 2007)

some very large volume going through EXM again today thats 160 million shares changing hands in the last two trading sessions, you can''t help but feel something is building, it will be interesting if the profit takers can contain the next advance to the 4c level.

With historical results such as below and the gold spec sector running rampant see PRE/IIG it may just be the Tennant Creek gold assays that push EXM through the resistance at 4c. 

1m @ 12,883 G/T Au
32m @ 670g/t Au
20m @ 333g/t Au
6.7m @ 833g/t Au
36m @ 210g/t Au

Remember the company spent 9 months planning this 15,000 metre drill campaign, hired an extra 2 geologists and have targeted an extra 2 million oz''s.

With an already defined JORC resource of 530,000 oz''s the shareprice certainly doesn''t include any exploration upside.

With volume building and results due could it be EXM that is the next spec to go on the rampage?


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## mick2006 (27 November 2007)

very positive the amount of buyers willing to come in at the 3.8c level and with support lining up all the way down the line it may suprisingly have another crack at the 4c level again today.

with the tennant creek results due, the AGM on Friday, and the gold price remaining high maybe EXM will be a little bit insulated from the broader market sell off.


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## imaginator (27 November 2007)

yahoo reached 0.043 today. My sold at 0.041 was triggered. Now Im trying to get back in at 0.038.

Did anyone wanna buy too?


----------



## Sean K (27 November 2007)

Still too early to call a breakout IMO, until EOD.

However, very promising. 

I'd expect a pull back around 12 while everyone goes to lunch, and perhaps some more action when the traders get back around 2 with a belly full of beer. 

I want to see 3.8 tested before I start doing cartwheels.


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## yuyry002 (27 November 2007)

guess todays sp movement has confirmed break out of 4 cents so far. we still got a half day to go.hope it stays above 4 cents and go up straight to north.


----------



## Go8688 (27 November 2007)

I am new to this,,can anyone please tell me what is the prediction to this? what should i be expecting?


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## OBK (27 November 2007)

i've been tempted to get out at 0.043 and hope for a fall back to high 3's, but it's too close to the release of the announcement to sell

don't want to miss out on that!


----------



## Sean K (27 November 2007)

Go8688 said:


> I am new to this,,can anyone please tell me what is the prediction to this? what should i be expecting?



There are 2 ways of looking at it.

Firstly, the company has 500K JORC Au and is targetting 2.5m Oz Au, approx. So, you could do some funnymental analysis and determine what the market cap should be for 2.5m Oz Au, after Capex etc etc, or do a peer comparison. I haven't done this yet.

Secondly, you could work out a technical target. In this case there looks to be a triangle formed and the break from the triangle gives a target the distance of the widest part of the triangle. About 6 cents. This is just a probability, and certainly no certainty. 

Hasn't broken up yet IMO. Needs an EOD close above .038 first.


----------



## moneymajix (27 November 2007)

Well, well.

Maybe news has leaked?

AGM on Friday.


Lot more buyers than sellers.

This has cheered me up!


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## Gangis (27 November 2007)

Will wait for EOD, Made that mistake yesterday, but it does look promising.

Whats the highest vloume this stock has traded in a day? 

Anyone rember a higher voulme day than today?


----------



## nowork (27 November 2007)

Nice movement today in a pretty down day, what do people think the price could get to on positive drilling results?


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## OBK (27 November 2007)

Gangis said:


> Will wait for EOD, Made that mistake yesterday, but it does look promising.
> 
> Whats the highest vloume this stock has traded in a day?
> 
> Anyone rember a higher voulme day than today?




All time is 107M off the top of my head.  I'm at work so can't tell you accurately 

Today's definitely beaten that

I'm still not confident in it closing and staying in the mid 4's in the next few days based on the trading patterns of the last few days


----------



## moneymajix (27 November 2007)

NO WORK

Kennas suggested 6c.

I go a bit higher to high 6s.

Lot depends on the ann. obviously.


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## alcy (27 November 2007)

What is EOD stand for????????                 
I am new to this share, ann coming soon? thanks


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## Gangis (27 November 2007)

EOD = End of day (close price)

An announcement is due in about a week or so. As Kennas stated the rise is not necessarily due to anticipation of results. People may have rerated the value of EXm with their current JORC


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## mick2006 (27 November 2007)

well I step away from the computer for a couple of hours and bang, looks like some very serious buying action.  Hopefully we have finally smashed the resistance at 4c.

It's always a good day when your largest holding starts to break out


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## UPKA (27 November 2007)

EXM is holding really well above 4c, large orders are still coming in at 4.3-4.4c, like said, EXM is going thru re-rating, exciting times ahead!!


----------



## Sean K (27 November 2007)

My only reservation is the volume, for the % gain.

On such amazing volume, I would have expected a 30% gain +.

So, plenty of sellers.

Still, looks like a probable significant break! I hate to say that intraday...


----------



## rico01 (27 November 2007)

Kennas Unlike FDL were twice the amount of shares that were on issue traded in one day, With Exm only 15% of the issued capital has traded so far

   that makes me think that there must be a lot of holders unwilling to sell at these prices


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## mick2006 (27 November 2007)

Kennas I think the best thing about the rally today is the fact it cleared the decks for hopefully some very positive drill results.  So the impact of any positive news maybe greater now the resistance looks to have been breached.

Its unlike you Kennas to go off mid-day


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## UPKA (27 November 2007)

I don't know how significant this is, but EXM is been traded on the ASX test market... obviously some traders are running tests on it in preparation to get in?


----------



## shaunm (27 November 2007)

What exactly is the "ASX Test Market". Sorry never heard of this before only been trading for 5 months?
Cheers


----------



## UPKA (27 November 2007)

shaunm said:


> What exactly is the "ASX Test Market". Sorry never heard of this before only been trading for 5 months?
> Cheers




its a parallel market to the ASX, except its designed for ppl who wants to test either their trading platform or connection settings. traders sometimes use it to test their trade setups. normally its the popular stocks that gets tested on, rarely on small caps, e.g. EXM. Its probably nothing, but the institutional traders would be in this now, taking advantage of the volatility, just hope they didn't pick up too many shares below 4c, and dump it at the end of the day....


----------



## shaunm (27 November 2007)

OK thanks.
Yeah I hope that sell-off doesn't occur. This occurring plus what happened with JMS yesterday would really hurt.


----------



## UPKA (27 November 2007)

I think we can officially call this a break out now, record volume at a record close, Kennas can confirm this :


----------



## Sean K (28 November 2007)

UPKA said:


> I think we can officially call this a break out now, record volume at a record close, Kennas can confirm this :



: LOL.

Great break on amazing volume. 18% of the company traded.

One thing to start to consider is the MC to resource comparison for a basic analysis of it's value to peers.

On it's 500K JORC it's $105 per ounce, which is starting to get high for an explorer/developer.

If we assume they are going to get the targetted 2.5m oz, then this number comes to $22, which would be the lowest value I have on my scale. Way to go for that to come to fruition though.

Even with POG taking a breather, I imagine it will open up, but there's every chance of some profit taking...


----------



## OBK (28 November 2007)

i was expecting plenty of profit taking today, but already up 0.003 today

still a way to go before day's end, but plenty more buyers then sellers at this stage

EDIT:  Make that 0.005


----------



## UPKA (29 November 2007)

any thoughts on last nights ann? what exactly is Sale of Unmarketable Parcels? (100 word limit is driving me nuts...)


----------



## mick2006 (29 November 2007)

unmarketable parcels are the really small shareholders that have say a few hundred shares, they clean the share register up so it doesn't cost the company as much.  More shareholders more costs.

Hey Kennas well it looks like EXM has retested that 3.8c level for you and bounced nicely.

With the major shareholder selling down over the last couple of weeks it explains the unusual amount of resistance on the way up, if anything it is a positive for EXM to get it out of the way before the Tennant Creek drilling results, there should now be less resistance on the way up next time.

I was more than happy to buy up more at 3.9c didn't think I would get the chance again.  With the results due within two weeks expect EXM to rise again as we get closer, also don't discount the fact the AGM is tomorrow we may here some positive news.


----------



## nowork (29 November 2007)

UPKA said:


> any thoughts on last nights ann? what exactly is Sale of Unmarketable Parcels? (100 word limit is driving me nuts...)




Damn i got a bit excited, i thought it might of been the results announcement.

Oh well, hopefully soon.


----------



## yuyry002 (29 November 2007)

ann from last nite got thinking why they would sell just 2 weeks before the results come out?really annoying


----------



## Bushman (29 November 2007)

The longer it stays in the .038 to .042 channel at high volume, the better I think. Allows sellers to be soaked up in the compression phase, getting rid of the profit takers who bought in 2 to 3c range for the quick trade into the announcements. Interested to see what is in those results. High grades will equal a good Christmas folks.  

Soft day for specs all round. If it holds at .038c then I would be happy. Dow is rallying into Christmas- first money pours into blue chips then into specs. Few more soft days then I am hoping for some December action. I like gold, iron ore and coal as the prices are nice and high by historical standards.


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## mick2006 (29 November 2007)

well said bushman, I certainly think the patient will be well rewarded by EXM, the market is willing to run hard on good news, with the AGM on tomorrow and the Tennant Creek gold assays due any day wouldn't surprise to see a strong last hour as the smart money takes positions ahead of the AGM tomorrow and any positive news that may come out.


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## juw177 (29 November 2007)

mick2006 said:


> Tennant Creek gold assays due any day wouldn't surprise to see a strong last hour as the smart money takes positions ahead of the AGM tomorrow and any positive news that may come out.




It is still a pretty tight match between buyers and sellers around the 4c mark it is hard to tell right now which way it will break.

Not downramping but I dont think the smart money will be taking positions any time soon as it was common knowledge that the gold assays are due. If anything they will be liquidating their positions. Smart money dont buy on good news.


----------



## mick2006 (29 November 2007)

nice end to the day with a 2 million chunk taken out of the 4c level, all eyes now turn to tomorrow's AGM and any news on Tennant Creek.

just speculating but one would think that if EXM release a more definate date for the Tennant Creek results, traders would re-enter the stock ahead of the results and we would see some extra volume and perhaps SP appreciation tomorrow.


----------



## Knight Trader (29 November 2007)

yuyry002 said:


> ann from last nite got thinking why they would sell just 2 weeks before the results come out?really annoying




I'm holding a small parcel of EXM and really surprised to see this Ann as well.
Does anyone have a different view to share regarding this Ann?
In fact, makes you wonder and think why ( Aspermont)  is selling 1 or 2 weeks earlier IF the grades are expected to be excellent.
From the top of my head, Aspermont disposing some ~60m shares at this stage is out of ordinary.

Cheers,
K.T


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## mick2006 (29 November 2007)

it is important to remember aspermont is a listed investment company and they paid 1.65c for a large part of their EXM holding, they just made the decision to take some profits.  Theres nothing wrong with that we all do it, at this stage they still hold a substantial amount of EXM which they are holding as we get closer to the drilling results from tennant creek.


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## nowork (30 November 2007)

Looking forward to whatever comes out in the AGM.

Hopefully some positive results will be out soon....


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## happytown (30 November 2007)

ann out, some drilling results due for release mid december, 3000m of 10000m completed - may result in short term weakness from those expecting drill results sooner

cheers


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## poorman (30 November 2007)

Watch it bounce, i have a good feeling about this one. Anything under 0.04 is good if your prepared to wait for the December report. Fingers crossed it turns out well


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## mick2006 (30 November 2007)

pretty much like I was saying, today we found out that the Tennant Creek results would be released in two weeks, also positive that the second drill rig will commence drilling early next week, looks like full speed ahead at Tennant Creek for EXM.

would expect EXM to be a little light on the volume next week as traders will play elsewhere knowing they have time to get in before the results, but the following week expect another surge in volume similar to this week as we approach the drilling results.

for those patient investors keep an eye on EXM you may get a chance to accumulate some next week as those impatient traders won't be around because two weeks is just too far in the future for them


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## rico01 (30 November 2007)

This is from fatguts [hc] He says he was at the AGM today, The geo comment looks good.

Sounds like the the MD was a bit frustrated with sh/holders pushing for results. They will be released as soon as they can.

The 2 mill ounce figure was not mentioned, but as I said previously, both the MD and Geo sounded very excited about the Tennant Creek prospects.

No mention was mad of drill cores to date.

The Geo's presentation will go up on the website, but the slides without his comments wont mean as much. 

Tanami and the uranium sound like they have a bit of potential as well. Drilling to hopefully start before end of financial year on the U ground (if I remember correctly)


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## OBK (30 November 2007)

thanks for the info rico01

good to hear comments from the AGM.  i would have loved to attend but i'm based in melb

i can understand the MD's frustration with SH's pushing for the results

do you know what they've mentioned about Tanami project?  All attentions been focused on TC, so it'll be interesting to see what they have to say about it


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## kevinecom (30 November 2007)

mick2006 said:


> pretty much like I was saying, today we found out that the Tennant Creek results would be released in two weeks, also positive that the second drill rig will commence drilling early next week, looks like full speed ahead at Tennant Creek for EXM.
> 
> would expect EXM to be a little light on the volume next week as traders will play elsewhere knowing they have time to get in before the results, but the following week expect another surge in volume similar to this week as we approach the drilling results.
> 
> for those patient investors keep an eye on EXM you may get a chance to accumulate some next week as those impatient traders won't be around because two weeks is just too far in the future for them




Mick,
What do think the support price for exm?? I'm glad the results delay to few more weeks, give me the opportunity to accumulate


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## mick2006 (30 November 2007)

kevinecom said:


> Mick,
> What do think the support price for exm?? I'm glad the results delay to few more weeks, give me the opportunity to accumulate




hey kevinecom,

I think EXM is one of the most exciting plays currently going around in the gold sector (and it is currently my highest porfolio holding), I have held a substantial parcel picked up at the 3c level for a while now, and on top of that have traded in and out as the momentum has moved.

As for a support price I'm not a chartist some of the other boys such as Kennas/TechA/and now YT could give you a better idea.

As for a momentum trade I was more than happy to buy between 3.6-3.8c today as we are only 2 weeks away from the Tennant Creek results.  

Due to the short time factor to the first set of results I would be surprised if it dipped below the 3.6c mark.

I would expect a fairly quiet start to next week, but as the results get closer I would expect a rise in volume and SP as often happens leading into results.


Hope that helps.


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## kevinecom (30 November 2007)

mick2006 said:


> hey kevinecom,
> 
> I think EXM is one of the most exciting plays currently going around in the gold sector (and it is currently my highest porfolio holding), I have held a substantial parcel picked up at the 3c level for a while now, and on top of that have traded in and out as the momentum has moved.
> 
> ...




Thanks mate,  I have great confidence in MD Alex Bajada after listening to him on the boardroom radio. They spent over 9 months going over the old data, and will spend over $1M on this drilling program.


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## mick2006 (1 December 2007)

well as confirmed by the company yesterday, we know only have 2 weeks to wait for the first batch of gold assays from tennant creek.

there wouldn't be many other spec companies listed on the ASX that have the short term upward potential of EXM. 

With massive historical gold grades (detailed below) and the lack of recent exploration, EXM has the potential to be significantly re-rated by the market if they confirm even a fraction of the historical results.

Just look at these previous drilling results.

1m @ 12,883 G/T Au
32m @ 670g/t Au
20m @ 333g/t Au
6.7m @ 833g/t Au
36m @ 210g/t Au

What makes EXM a real standout in the spec gold space is the location of the current drill program they are drilling in and around one of Australia's highest ever graded gold mine, *with an average head grade of 57 g/t quite unbelieveable.*
Below is a table of the historic production from the area of EXM's tennant creek tennements.


*Mine                        Ore (Tonnes)   Ore Grades     Ounces Au 
Nobles Nob                 2,086,526       16.81 g/t    Au 1,127,544 
Juno                            450,000       57 g/t Au           839,228 
Rising Sun                      10,466       27 g/t Au              7,584 
Rising Sun West                6.950       19.1 g/t Au           4,268 
Two Blues                           500       40 g/t Au                643 
Kimberly Kids                       390       49.84 g/t Au            626 
Weabers Find                        25       193 g/t Au              155 *

Remember the above mining operation was only stopped due to the low gold price, and as confirmed by EXM they already have a *JORC resource of 530,000 oz's*

The company is extremely confident of finding at least *another 2 million oz's of high grade gold*, due to the lack of exploration over the last 20 years and also the use of modern technology.

The market has recently rewarded gold spec companies such as KAL,PRE,IIG for results that don't even go close to what EXM have the potential to provide.

Also confirmed yesterday is the company has secured a third drill rig and plans to continue drilling for a full 12 months. This is signs they are happy with the way things are progressing and extremely confident they are sitting on somthing very substantial.

With traders taking profits late last week when they found out the results were going to be two weeks away, don't be surprised to see a steady build up of volume and Share Price as we start getting closer to the release of the results.


Also working in EXM's favour is the likely Santa Claus rally, December is usually a very strong month for shares.


And on top of that expect a rally in the US markets caused by a Fed Rate cut on December 11, which will be positive for the gold price.


Would be interested to hear traders thoughts who have been in and out of EXM, and their plans for re-entry before the results. 

As EXM provides the perfect combination for traders volume,momentum,results and with 15000 metres of drilling underway we will have plenty of news.


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## Spaghetti (1 December 2007)

mick2006 said:


> The market has recently rewarded gold spec companies such as KAL,PRE,IIG for results that don't even go close to what EXM have the potential to provide.




I have owned all three plus EXM. I disagree with the statement that the market has rewarded these but not EXM. EXM has a market cap of 52 mil compared to KAL having a market cap of 22 mil (maybe 30 with escrowed shares included). EXM has therefore a far higher expectation already being factored into s/p. I prefer KAL atm because I know they actually have a resource so the "spec" label has gone. It is still cheap for what it proves it has.  EXM may well have high grade massive deposit but that is pure speculation until a new jorc is released.  The previous inferred resource is not that high a grade for underground mining and the Nobles resource, though high, very small. 


The market may put a much higher value on expectations as results are released and I would trade into these expectations for sure. However I would not trade on any belief it is worth anything more than it is valued at for the moment. In short follow market sentiment but do not believe for a minute it has any fundamental support. Yet.

Just remember tennant creek was uneconomic resource before and abandoned, so was KAL deposits. So how EXM has far greater potential all of a sudden? Based on what? This statement is highly speculative imo.

KAL previous uneconomic resource 1.2 million ounce gold
EXM previous uneconomic resource 1/2 million ounces of gold.

Both in areas with a history of mining.

So ramp away all you wish on EXM, it may have something we all do not know, but that is the qualifier...we do not know how much potential it has.

If you want to back up that statement with some proof apart from what was mined there before ( ie doesn't that mean all the easy stuff is gone) I will stop trading in and out of EXM and take a serious position but until then the above is how I see it.


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## mick2006 (1 December 2007)

hey spaghetti,

I like you have traded in and out of all four EXM,IIG,PRE,KAL I just feel at this moment of time EXM is the better short term trade, I respect you opinnions in regards KAL.  

As for the resources of the two companies just wait and see what EXM come up with they have 530,000 ozs and are targetting 2.5 million (listen to BRR interview to confirm).  

The fact is there hasn't been any exploration on EXM's tennements for 20 years, so thats why they are drilling the 15000 metres currently to both confirm historical drilling but also expand the resource.

As for average grade their current resource is at 7 g/t nothing to sneeze at.

Its always good to hear both sides of the story and I'm sure depending on information I will trade all four once again, just at this stage I think EXM is the better short term play.


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## Spaghetti (1 December 2007)

You maybe right about the next short term play. Market sentiment is hard to predict.

2.5 million ounces would be great, however the average grades depends if undergound blah blah so hard to assess yet.

Look what market sentiment did to RMS though on grades, great ride even if they only did come up with 80,000 ounces so far. Even if you sold at the recent low you would have made more money than it ever should have been at. (provided how much you paid of course).

So yes it may well go high and I have no problem trading on anything that moves


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## mick2006 (1 December 2007)

your 100% right spaghetti, market sentiment seems to be the overiding factor at the moment, much more so than charts and fundamentals.  

any significant news in the iron ore/gold/oil sectors has been rewarding for individual company shareholders recently.

thats why EXM provides an excellent chance to make some money taking positions early before the raft of traders come in and drive the price up before the results and certainly after *(if the results warrant it)*.

 it must be noted that EXM is a spec play and it can go either way, but given the market sentiment and historical drilling results I believe it is a good risk/reward play at these levels.


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## mick2006 (3 December 2007)

as expected a very quiet start to the week, given that the tennant creek gold results are not due to probably late next week.  

Would expect traders to start to show interest again later this week, in the meantime us EXM holders are just sitting dreaming of what may happen next week


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## yuyry002 (3 December 2007)

a bit action on share price in last 10 mins and its back up to 4 cents.lets hope it wont drop back below 4cents again.(personally i reckon its highly unlikely)


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## prawn_86 (3 December 2007)

Yuy,

why do you think it wont drop below 4c again? a bit of quantification please. Just a few words is all it takes


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## imaginator (3 December 2007)

yuyry002 said:


> a bit action on share price in last 10 mins and its back up to 4 cents.lets hope it wont drop back below 4cents again.(personally i reckon its highly unlikely)




sheet, i bought at 0.037 friday, sold it this morning 0.038 for a $50 profit cos I didnt have nuf funds to settle. CIBAI!


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## mick2006 (3 December 2007)

strange old day for EXM today nothing much happening then all of a sudden at 3pm some larger buy orders started appearing and it ended up closing at 4.1c.

I'm by no means a chart analyst but it seems very positive that twice friday and today the sellers have tested the buyer resolve at the 3.7c level and twice it has bounced back strongly.

Maybe what we saw in the last hour today was the traders hoping to get in around or below the 3.7c mark realise they would have to pay up to get their fill and that is what caused the rise in volume and shareprice (thats just my theory).

If that is the case and that is a big *if*, we may have found support for the next up leg, as a momentum trader I think time rather than shareprice will be the short term driver of EXM, many traders such as myself move from company to company when major news is upcoming and judging by the sell down late last week when it was revealed that the Tennant Creek results aren't due to late next week there may still be alot of traders that will want to buy back in before the results next week.

As I have posted previously sentiment plays a big part in the spec mining sector and the lure of potentially massive gold grades is more than likely (not certain) to cause a lot of interest in EXM over the coming two weeks, so expect a gradual increase in volume and possibly shareprice over the course of this week and next.

Basically it all comes down to results for EXM if the results are good shareholders will be rewarded if not you know what will happen.


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## Bushman (3 December 2007)

Today's volume was nice and low suggesting the selling reached its zenith last week. Traders have taken their position and the drill results will be the catalyst. Which way it moves will depend on the grades. +10 g/t and this will fly north; less and the result is less likely. However if you are investing, rather than trading announcements, remember this will be the first drilling of many. EXM have 15,000 sm of tenenments in Tanami and cash/rigs to drill it!   

A lot have now bought above 3.7c. Have a look at the volume over the last few weeks. This should ensure that EXM remains at 3.7c support leading up to the announcement IMO. 

Good work with the cheerleading Mick ;-).  Lets hope the drill hits live up to it now and bring this puppy home.


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## adobee (3 December 2007)

yuyry002 said:


> a bit action on share price in last 10 mins and its back up to 4 cents.lets hope it wont drop back below 4cents again.(personally i reckon its highly unlikely)




Dam straight lets hope it wont drop I paid 4c for it two weeks ago !! When I thought it was about to run .. Anyway this is going to make up for my MHL misadverture ...


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## mick2006 (3 December 2007)

Bushman said:


> However if you are investing, rather than trading announcements, remember this will be the first drilling of many. EXM have 15,000 sm of tenenments in Tanami and cash/rigs to drill it!




This is why EXM is such a good tradeable/investable stock, short term the first set of results from Tennant Creek will be the focus, if they are good EXM will run, but as Bushman has highlighted this is only the first 3000m of 15000m, so its not just a one off announcement it is likely to be around 5 over the course of two months.

The number of market sensitive announcements will keep EXM in investors/traders minds meaning volume won't die for too long.

It's hard not to focus on the first set of results, but if these are good it may set EXM alight much like companies such as RMS,KAL,PRE etc *(remember its important to assess your own risk/reward profiles before investing in companies like EXM because they usually go very well or very ordinary there is usually no in between)*


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## kevinecom (3 December 2007)

Too much expectation on this one, I concern we might end up like MDX. 

I still can't decide whether to accumulate more on heads or oopies.


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## mick2006 (4 December 2007)

for those who want to see why EXM holders are so excited about the upcoming Tennant Creek gold drilling results have a look at page 15 of the company's AGM presentation the historical drill results are just incredible, and remember a portion of the drilling campaign is set aside to confirm these historical results, can you just imagine the effect on the share price if they even go close to some of those results.


link to AGM 2007 presentation

http://www.excaliburmining.com.au/IRM/Company/ShowPage.aspx?CPID=1103&PageName=AGM Presentation - November 2007


On top of the Juno prospect EXM have at least 3 other prospects that have all had drilling results of greater than 20g/t au which are also part of this current exploration campaign.

With the company likely to release the results of the 15000 metre exploration campaign over the next 2 months, EXM is likely to become one of the traders favourites.

Not many companies in the spec gold sector can go close to the possible bonaza grades that EXM has the potential to deliver, and the best part we only have just over a week to see whether EXM can come up with the goods.


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## Bushman (4 December 2007)

Lets hope they find another 12000 g/t drill hits Mick.  Correct me if I am wrong but that is 1.2kg of gold per tonne. That is a gold nugget not a drill sample. 

Tanami looks good to with walk up targets of 119 g/t.


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## mick2006 (4 December 2007)

nothing is certain in the exploration game, but they have the right location, they have gone about it the right way, spending 9 months reviewing all historical data to plan this exploration campaign, now I guess its down to the mining exploration gods.


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## mick2006 (6 December 2007)

interesting game of cat and mouse developing for EXM at the moment has traded in a tight range on low volume for all of this week, you get the feeling that if there was a couple of decent whacks into the resistance it might pick up some momentum heading into the anticipated Tennant Creek results.

looks like some buyers are already starting to move up the line, feeling that they mightn't get there fill now below the 4c mark.

this is one any trader will have on their watchlist as any signs of a pickup in volume they will be all over it, in case it runs hard into the Tennant Creek results.


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## OBK (6 December 2007)

significant vol in the last hour
all the sellers at 0.041 gone

maybe the run has started early?  Maybe a leak?  Who knows!


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## Sean K (6 December 2007)

OBK said:


> significant vol in the last hour
> all the sellers at 0.041 gone
> 
> maybe the run has started early?  Maybe a leak?  Who knows!



Has had numerous false starts, I'm quite happy with the break through 3.8, but from here, who knows? I thought 6 as a breakout price target, but this one wants to go in fits and starts. Might need some 000 grades to really take off.


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## Jockstar73 (6 December 2007)

was just about to post the same point.....  this is now 4.3 cents with a 4mil chomp...  there is alot of chatter about EXM on HC so it could be a traders deam in the next few days. We are still waiting on the drilling results in a few weeks, bit as stated, maybe the run up has started and everyone that has this i their watchlist through that they had a little longer to jump in....


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## zt3000 (6 December 2007)

4.6 close... was that a late rally or what!

i picked some up at 4.3 at the end .. been watching for a while waiting waiting and then i thought i almost missed it ... haha

i'll probably hold to results now ...

2Moz would be nice right about now


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## Jockstar73 (6 December 2007)

Yeah I think I will hold as well...  I think I was lucky...  was the last buy @ 4 cents and then Zooooooooommmmmmm........  should be a strong open tomorrow..  the news will filter through and everyone will be on it.


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## mick2006 (6 December 2007)

wow what an explosive finish to today's trading, looks like the run has started to the tennant creek results, what a crazy day

first 3.5 hours trade   3 million volume
last 2.5 hours trade  65 million volume

I don't anyone could have predicted the surge in interest this afternoon, with such a strong volume finish if the US markets hold up tonight we may make an assault on the 5c mark tomorrow some time.


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## nowork (6 December 2007)

mick2006 said:


> wow what an explosive finish to today's trading, looks like the run has started to the tennant creek results, what a crazy day
> 
> first 3.5 hours trade   3 million volume
> last 2.5 hours trade  65 million volume
> ...




Yeah that was pretty interesting.

Wonder if it will take the 5 mark so close to the results or if there will be some profit taking.


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## adobee (6 December 2007)

Thank gosh i have been holding my 4cent entry from a few weeks ago when it retraced straight away ...   

Lets hope US remains strong tonight .. (I am locking this away long term but still would like to see it clear 5c sooner than later)..


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## Jockstar73 (6 December 2007)

pulled this from the "Other" site....

*Excalibur draws on history*

Thursday, December 06, 2007

LIKE King Arthur drew the sword from the stone, so Excalibur Mining has unsheathed old data from its Tennant Creek project in its quest to release more gold. By Mark Mentiplay - RESOURCESTOCKS*

Excalibur Mining believes a year extensively re-examining 30 years of exploration data at its Tennant Creek gold project in the central Northern Territory may provide the key to releasing another 2 million ounces.

The company has launched a 15,000-metre drilling program that is targeting a significant gold resource upgrade of potentially 2 million ounces among the remnants of two major Tennant Creek mines and outlying deposits that have already produced that much.

The company's geological team, which includes three senior geologists, expects to have a new resource estimate completed at the end of the drilling program that will hopefully add significantly to the current JORC-compliant indicated and inferred 2.3 million tonnes at 7.12 grams per tonne gold for 532,244 ounces of contained gold.

Excalibur has also recently acquired the gold and precious metal rights to a prime 12,000-square kilometre tenement package, including an extensive Newmont Mining database, in the Territory's 11 million ounce Tanami and Marla regions. The company has already received several farm-in approaches.

However, Excalibur Managing Director and well-known former Perth stockbroker Alex Bajada told Tennant Creek is the company's prime focus.

The company's prospects there include the famous Noble's Nob and Juno gold mines.

Noble's Nob, one of the largest open-cut gold mines in Australia in its day, produced 1.12Moz from 1939-1996, while Juno yielded some 840,000oz when run by Peko between 1967-1977 and had an average grade of 57gpt.

Historic underground diamond drilling at Juno � a priority target for Excalibur � has returned massive grades, including 1.53m at 12,883gpt from 16.7m within a wider intercept of 670gpt over 32m from 12.5m. Other noteworthy historical hits included 6.7m at 833.6gpt from 24.4m and 36m at 210gpt from 19.5m.

The new program includes 10,000m of reverse circulation and 5000m of diamond drilling to test 12 targets thrown up by the past year's research and re-evaluation of 30 years of exploration data.

"The results are very exciting and this drilling program represents the most significant attempt to further explore one of the richest gold producing areas in Australian history," Bajada said.

"The drilling will be in historically high-grade regions to infill gaps in existing drilling and look more closely at some areas we believe were missed.

"We think we've got potential for about two million ounces."

Bajada acknowledged the current program is a long way from proving up that sort of asset.
He expects it will take several months and be followed soon after by a new resource estimate.

"We plan to drill the hell out of this place over the next 12 to 18 months to better define the resources and I'd be pretty disappointed if we didn't get up to the two million ounce level. We have the real expectation that this is a world class asset," he said.

The RC drill rig is on its way to site, with the diamond rig expected onsite soon. The company is negotiating for a third rig to accelerate the drilling program.

Initial targets include high-grade multiple pods at Juno and Noble's Nob, and nearby satellite deposits such as Rising Sun and M10; any of which could produce early cash flow.

Juno contains the most ounces of the three resources currently defined with a JORC-compliant indicated resource of 321,400oz from 952,000 tonnes at 10.5gpt, followed by M10 with a JORC-compliant inferred resource of 1.2 million tonnes at 5gpt for 193,000oz and 18,000oz at Noble's Nob's with a JORC-compliant inferred resource of 174,000t at 3.2gpt.

The Juno deposit is a steeply plunging pipe of gold mineralisation with some spectacularly high gold grades. Previous drilling encountered high-grade mineralisation on the south side of the east-west orientated stopes and the area will be a prime new drilling target.

M10 lies underneath Juno and was intersected by previous diamond drilling from the underground workings. This will be further drilled to confirm and infill previous intersections, expand the resource and investigate a possible link to nearby Juno West.

Noble's Nob was worked by underground methods and later as an openpit down to 100m.

Bajada said there is geophysical target down plunge to the east of Noble's Nob that has received little or no drilling in the past and will be diamond drilled in the current program.

There are also excellent new targets a few hundred metres east and west of the openpit.

Excalibur's Tennant Creek project is conveniently close to infrastructure being near the Alice Springs-Darwin rail line, about 8km from the Tennant Creek township and within a power grid laid down for past operations. The company also has a large workshop, office and core storage facilities in Tennant Creek.

Excalibur is also carrying out an extensive electromagnetic survey over the Brown's Range South area within its recently acquired Tanami project in the Northern Territory, west of Tennant Creek.

This work will be completed in conjunction with Palace Resources, which holds the uranium rights.

There has been scant exploration in these regions and limited drilling, so the results of the electromagnetic work and evaluation of the Newmont data, including surface samples grading up to 119gpt, will identify targets expected to be drilled soon.

Bajada said the recent opportunity to take a strategic stake in the Tanami region where more than 11Moz of gold has been discovered in mines such as Callie, Tanami, The Granites and Dead Bullock Soak by the likes of Newmont, Falconbridge, BHP Billiton and Anglo American, was too good an opportunity to miss.

The company is evaluating several farm-in approaches on the ground and the early money is on some sort of joint venture.

Excalibur has also identified targets on its 700sq.km Yilgarn uranium project where it is looking for large, low grade, near surface deposits. The acquisition is still subject to shareholder approval.
"These two projects, particularly Tanami-Marla, give us a range of exploration and development options in this market," Bajada said.

"Single project companies are hard to rationalise, but the focus is on Tennant Creek."

The company has $3.5 million in the bank, which is more than enough to cover drilling over the next 18 months, but is considering a further cash raising, possibly around $7 million, shortly.

* This report, first published in the November 2007 edition of RESOURCESTOCKS magazine, was commissioned by Excalibur Mining


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## mick2006 (6 December 2007)

what a great article pretty much sums up why EXM has so much upside potential.

will be very interesting watching what happens tomorrow morning.


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## OBK (6 December 2007)

mind you mick, the report was commissioned by EXM, so it's not exactly a objective article.

That said, the company is a very tantalising prospect
i was thinking of topping up at 3.9c but it's got wayyy past that


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## wildmanchris (6 December 2007)

mick2006 said:


> what a great article pretty much sums up why EXM has so much upside potential.
> 
> will be very interesting watching what happens tomorrow morning.




I was thinking the same thing Mick - mind you some MD's with speccies manage the PR side of things really well and get the name of the company out there.  I guess you have to plug your product if you believe in it!


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## catman (6 December 2007)

OBK said:


> mind you mick, the report was commissioned by EXM, so it's not exactly a objective article.
> 
> That said, the company is a very tantalising prospect
> i was thinking of topping up at 3.9c but it's got wayyy past that




guys been on exm for about 3 weeks now shortly after our first run have accum in the mid to low 3's (1 mill) am holding for the results.

god speed to all of us over the coming weeks


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## Kremmen (7 December 2007)

Another good sign is that the options have picked up even more than the shares. Sellers just aren't selling them much any more, so buyers are having to pay more.


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## Wysiwyg (7 December 2007)

Kremmen said:


> Another good sign is that the options have picked up even more than the shares. Sellers just aren't selling them much any more, so buyers are having to pay more.




:topic Kremmen maaaate, you MUST have seen hot gossip, Karla, sid snot etc.
Hot Gossip ( the gals) were it for me as a school kid, in fact just recently found them on You Tube.


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## mick2006 (8 December 2007)

one thing of interest for EXM holders is the re-float of the old Giants Reef (GTM) Tennant Creek interests which lie just west of EXM's Tennements.  

The company that now holds those assets is Emmerson Resources and it is due to list in about a week (17th December), one thing of importance is that Emmerson will hold the old GTM gold processing plant which is not that far from all EXM's tennements.

Assuming that EXM does start to hit significant targets a toll treating agreement with Emmerson may lead to some very early production/profits.  Much like the significant profits AAR are making currently toll treating their high gold grade ore.

If the market could see EXM as a near term producer it would certainly hasten the re-rating of the stock.


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## Yeti (8 December 2007)

Bushman said:


> Lets hope they find another 12000 g/t drill hits Mick.  Correct me if I am wrong but that is 1.2kg of gold per tonne. That is a gold nugget not a drill sample.
> 
> Tanami looks good to with walk up targets of 119 g/t.




This reply a bit a late Bushman, but I only just noticed your post. 1Kg=1000g. If you thought 1.2kg was a gold nugget, what would you call 12kg?


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## AussiePaul72 (8 December 2007)

mick2006 said:


> one thing of interest for EXM holders is the re-float of the old Giants Reef (GTM) Tennant Creek interests which lie just west of EXM's Tennements.
> 
> The company that now holds those assets is Emmerson Resources and it is due to list in about a week (17th December), one thing of importance is that Emmerson will hold the old GTM gold processing plant which is not that far from all EXM's tennements.
> 
> ...




Thats a very interesting piece of info Mick ..... and certainly may provide EXM with another handy option to initially speed up time to become a producer.

Out of interest, do you know much about Emmerson Resources and the tenements they have. I was just wondering what sort of potential these tenements have considering you mentioned that they are only just west of where EXM are?


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## mick2006 (9 December 2007)

not sure how Emmerson's tennements stack up against that of EXM's, only that they have the old GTM Chariot Gold Mine which may after a bit of resource drilling be able to be brought back into production.

I would still favour EXM at the moment as they have all the exploration momentum behind them, rather than Emmerson who have been dedicating all their time getting the company listed.


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## mick2006 (9 December 2007)

with the likely release this week of the highly anticipated Tennant Creek gold results, few companies are likely to hold such focus in the spec arena as EXM will this week, I'm sure it is already on most traders watchlists already.

It has already been widely discussed the prospectivity of the Tennant Creek area so I won't bore readers with the details again (instead I will include links for those not familar with the EXM story), what will be of interest is how EXM trades before/after the results are released.

It is important to put the first set of results into context they are only 20% of the current drilling campaign so it will only give us a taste of whats to come (3000m of 15000m).

Would be interested to hear holders/potential holders/traders views on how they think the EXM story will play out?

What will be considered an encouraging start to the drilling campaign?

Should we be encouraged the company is organizing a 3rd drill rig?

Is it a positive sign the company already intends to expand this current campaign for the next 12-18 months which will include continious drilling/results?

Does the fact the company has put all other projects on the backburner signal their extreme confidence in what will be discovered?

Who out there thinks they will hit some spectacular grades/ in time find that extra 2 million oz's?

Does the fact Emmerson Resources are re-listing with the former Giants Reef assests change the game for EXM in terms of early toll treated production?

What is a realistic short term/longer term shareprice target?


There is no doubt EXM has alot going for it at the moment, the lure of exceptionally high gold intercepts, a possible large reserve upgrade, the chance for near term production.

With so many questions about to be answered, we are entering a very exciting time for EXM, enjoy the ride boys and girls cause we have no idea where it may take us!!!


Below are a few links and a recent resource stocks article for people that my not know the EXM story yet.


AGM Presentation

http://www.excaliburmining.com.au/IRM/Company/ShowPage.aspx?CPID=1103&PageName=AGM Presentation - November 2007

Board Room Radio Interviews

http://www.brr.com.au/event/EXM/1849/35466

http://www.brr.com.au/event/EXM/1849/32111

http://www.brr.com.au/event/EXM/1849/22411



Excalibur draws on history

Thursday, December 06, 2007

LIKE King Arthur drew the sword from the stone, so Excalibur Mining has unsheathed old data from its Tennant Creek project in its quest to release more gold. By Mark Mentiplay - RESOURCESTOCKS*

Excalibur Mining believes a year extensively re-examining 30 years of exploration data at its Tennant Creek gold project in the central Northern Territory may provide the key to releasing another 2 million ounces.

The company has launched a 15,000-metre drilling program that is targeting a significant gold resource upgrade of potentially 2 million ounces among the remnants of two major Tennant Creek mines and outlying deposits that have already produced that much.

The company's geological team, which includes three senior geologists, expects to have a new resource estimate completed at the end of the drilling program that will hopefully add significantly to the current JORC-compliant indicated and inferred 2.3 million tonnes at 7.12 grams per tonne gold for 532,244 ounces of contained gold.

Excalibur has also recently acquired the gold and precious metal rights to a prime 12,000-square kilometre tenement package, including an extensive Newmont Mining database, in the Territory's 11 million ounce Tanami and Marla regions. The company has already received several farm-in approaches.

However, Excalibur Managing Director and well-known former Perth stockbroker Alex Bajada told Tennant Creek is the company's prime focus.

The company's prospects there include the famous Noble's Nob and Juno gold mines.

Noble's Nob, one of the largest open-cut gold mines in Australia in its day, produced 1.12Moz from 1939-1996, while Juno yielded some 840,000oz when run by Peko between 1967-1977 and had an average grade of 57gpt.

Historic underground diamond drilling at Juno � a priority target for Excalibur � has returned massive grades, including 1.53m at 12,883gpt from 16.7m within a wider intercept of 670gpt over 32m from 12.5m. Other noteworthy historical hits included 6.7m at 833.6gpt from 24.4m and 36m at 210gpt from 19.5m.

The new program includes 10,000m of reverse circulation and 5000m of diamond drilling to test 12 targets thrown up by the past year's research and re-evaluation of 30 years of exploration data.

"The results are very exciting and this drilling program represents the most significant attempt to further explore one of the richest gold producing areas in Australian history," Bajada said.

"The drilling will be in historically high-grade regions to infill gaps in existing drilling and look more closely at some areas we believe were missed.

"We think we've got potential for about two million ounces."

Bajada acknowledged the current program is a long way from proving up that sort of asset.
He expects it will take several months and be followed soon after by a new resource estimate.

"We plan to drill the hell out of this place over the next 12 to 18 months to better define the resources and I'd be pretty disappointed if we didn't get up to the two million ounce level. We have the real expectation that this is a world class asset," he said.

The RC drill rig is on its way to site, with the diamond rig expected onsite soon. The company is negotiating for a third rig to accelerate the drilling program.

Initial targets include high-grade multiple pods at Juno and Noble's Nob, and nearby satellite deposits such as Rising Sun and M10; *any of which could produce early cash flow.*

Juno contains the most ounces of the three resources currently defined with a JORC-compliant indicated resource of 321,400oz from 952,000 tonnes at 10.5gpt, followed by M10 with a JORC-compliant inferred resource of 1.2 million tonnes at 5gpt for 193,000oz and 18,000oz at Noble's Nob's with a JORC-compliant inferred resource of 174,000t at 3.2gpt.

The Juno deposit is a steeply plunging pipe of gold mineralisation with some spectacularly high gold grades. Previous drilling encountered high-grade mineralisation on the south side of the east-west orientated stopes and the area will be a prime new drilling target.

M10 lies underneath Juno and was intersected by previous diamond drilling from the underground workings. This will be further drilled to confirm and infill previous intersections, expand the resource and investigate a possible link to nearby Juno West.

Noble's Nob was worked by underground methods and later as an openpit down to 100m.

Bajada said there is geophysical target down plunge to the east of Noble's Nob that has received little or no drilling in the past and will be diamond drilled in the current program.

There are also excellent new targets a few hundred metres east and west of the openpit.

Excalibur's Tennant Creek project is conveniently close to infrastructure being near the Alice Springs-Darwin rail line, about 8km from the Tennant Creek township and within a power grid laid down for past operations. The company also has a large workshop, office and core storage facilities in Tennant Creek.

Excalibur is also carrying out an extensive electromagnetic survey over the Brown's Range South area within its recently acquired Tanami project in the Northern Territory, west of Tennant Creek.

This work will be completed in conjunction with Palace Resources, which holds the uranium rights.

There has been scant exploration in these regions and limited drilling, so the results of the electromagnetic work and evaluation of the Newmont data, including surface samples grading up to 119gpt, will identify targets expected to be drilled soon.

Bajada said the recent opportunity to take a strategic stake in the Tanami region where more than 11Moz of gold has been discovered in mines such as Callie, Tanami, The Granites and Dead Bullock Soak by the likes of Newmont, Falconbridge, BHP Billiton and Anglo American, was too good an opportunity to miss.

The company is evaluating several farm-in approaches on the ground and the early money is on some sort of joint venture.

Excalibur has also identified targets on its 700sq.km Yilgarn uranium project where it is looking for large, low grade, near surface deposits. The acquisition is still subject to shareholder approval.
"These two projects, particularly Tanami-Marla, give us a range of exploration and development options in this market," Bajada said.

"Single project companies are hard to rationalise, but the focus is on Tennant Creek."

The company has $3.5 million in the bank, which is more than enough to cover drilling over the next 18 months, but is considering a further cash raising, possibly around $7 million, shortly.

* This report, first published in the November 2007 edition of RESOURCESTOCKS magazine, was commissioned by Excalibur Mining


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## Bushman (9 December 2007)

Yeti said:


> This reply a bit a late Bushman, but I only just noticed your post. 1Kg=1000g. If you thought 1.2kg was a gold nugget, what would you call 12kg?




A very big nugget! My apologies for the arithmetic. To think that I am an accountant too. Maybe I'll put it down to the doctrine of conservatism. 

Any near term production capability will give EXM significant leverage to the current historically high gold price. It should then add a premium to the share price which is having a admittedly volatile re-rating as exploration success is factored into the enterprise value of EXM. Cash is king at the moment and with an economic and near term gold mine EXM will be floating in the stuff. 

I am catiously optimistic about EXM in the next 3 to 6 months. If they find they find plenty of the hedge against inflation, we should have a good run. If they can prove up near term production, we should have a better run. My major concern is that everyone is betting on near term exploration success being released to the market. If the grades dissapoint, down we go. Investors are worried about exposure to the spec end of town with full year US financials nearly upon us. Having said that, I would rather be in this one at an average price of 3.6c than out of it.


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## Cor$air (9 December 2007)

Hi all, first post here!

Just a few thoughts on how the SP could go post-announcement:

1. Very good -> spectacular results: Probably a very high intraday sp rise with profit taking at some point, retracing to a new support level. What I find exciting with EXM is that if the first results are good then the general mentality will probably be, "wow, and there's still 80% of the target remaining!" This fact alone should see steady gains as the results trickle in.

2. Average -> Unspectacular results: There is probably the danger that this will see a short-term retracement, even if average grades are found. EXM has been hyped so much that anything less than stellar results could see some move on to other plays in the short-term until the lead-up to the next ann. Depending on one's strategy, this could also present a great opportunity for averaging-in at a lower price, still holding a company with huge potential.

3. Dismal results: As above in 2. with a greater retracement and even better buying opportunity.

I think the beauty of EXM is that it will probably take two rather average results to turn the market sour, so even if the first grades are nothing to write home about, it will be hard to lose too much, for those who hold on the lead-up to the 2nd lot of results.

Now I've already taken 40% on my initial parcel bought in the mid-twos and re-bought half a mil a couple of weeks ago, so will be keen to take some more profits if it gets near 5c then hold the remainder for the good ol' multibag potential.


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## prawn_86 (9 December 2007)

Cor$air,

Welcome to ASF 

In the future can you please provide some analysis as to why a lower price would provide a good entry, and to why you think this co (or any) has multibagger potential.

Also, we try to deal with facts and evidence here at ASF, so posting 'what could happen' probably isnt appropriate. A meteorite _"could"_ hit the earth and we all die before anything else happens


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## Cor$air (9 December 2007)

prawn_86 said:


> Cor$air,
> 
> Welcome to ASF
> 
> ...




Points noted, prawn_86!

Though I thought i explained the reason a lower price would possibly be a good entry point, i.e. that there would still be 80% of the target remaining and plenty of scope for higher grade returns. 

In any case, I'll try and steer clear of too much prophesising


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## juw177 (9 December 2007)

Cor$air said:


> Just a few thoughts on how the SP could go post-announcement:




There is a chance the SP will tank on the news announcement. I hold too, but I just thought I would warn all the newbies out there.

Of course, the share price can also go way up. But looking at recent track record of people selling the fact, it's good to be careful.

My own theory is this: A good way to gauge the news reaction is by how many people post on the thread at HotCopper leading up to the announcement. The more posts at HotCopper the more chance the share price will get smashed on the news. And EXM has been VERY popular at HC lately which MAY suggest the news has been factored into price.


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## mick2006 (10 December 2007)

good to see the buy side building again above the 4.3c level, it looks like we are currently having one of those good old fashion standoffs between th 4.4-4.5c with no-one willing to break either way, with EXM being one of those real momentum stocks just a little volume either way could send this one running again.

should remain firm until we start hearing any news out of Tennant Creek, also watch for the rotation inside the spec gold sector with money churning in and out of companies like BMO,IIG,RAU,PRE,EXM depending on upcoming newsflow and momentum.


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## nowork (10 December 2007)

Looks like a little profit taking at the moment, back to 4.1c

I think it should rebound this afternoon somewhere near the previous close.

Hanging out for the results to see how the share price will go.


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## Rocket man (11 December 2007)

I would have expected a higher sp that .042 at this stage of the game seeing results are imminent .. not that it matters .. just interesting .. trading volume seems low last few days

eagerly awaiting results ...


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## mick2006 (11 December 2007)

I think people got a bit spooked yesterday when someone dumped a 5 million capping order at 4.5c and it certainly halted its march forward (now that order has been pulled it opens it up again for another move forward)


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## yuyry002 (11 December 2007)

was expecting abit higher sp(4.5) starting  this week. well it didnot happen.coupla mil shares got filled at 4.3 and another 2 mil at buy side.maybe its starting to move.


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## wildmanchris (11 December 2007)

Looks like a couple of big trades just clicked over - it seems like there a quite a few patient traders on this one - waiting to see where it goes.......


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## Bushman (12 December 2007)

Its another assualt on 4.5c. The trader resistance is still strong but with another 21m sold, how many are left in this range? It feels a bit like trench warfare this sp movement. Not matter how many the buyers and sellers throw at 4.2 to 4.5c, there is always another buyer, another seller to ensure the stalemate continues. But it is now 75m shares sold above 4.2c. Cannot be too many left.


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## zt3000 (12 December 2007)

Bushman said:


> Its another assualt on 4.5c. The trader resistance is still strong but with another 21m sold, how many are left in this range? It feels a bit like trench warfare this sp movement. Not matter how many the buyers and sellers throw at 4.2 to 4.5c, there is always another buyer, another seller to ensure the stalemate continues. But it is now 75m shares sold above 4.2c. Cannot be too many left.




lol its very funny watching the depth on this one .. big cappers following the price down and up ... lol ... dunno what they trying to achieve except maybe some accumulation lol ..

free entertainment lol


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## wildmanchris (12 December 2007)

I have been reading a bit about EXM - and have come to the conslusion it can go two ways.  Obvious really.

I cant work out why people are relating it to KAL, and then run that it had its results when the market cap of KAL is already less than half of EXM.

Can anyone shed any light on that side of things?  EXM have a bigger drill area?


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## mick2006 (12 December 2007)

wildmanchris said:


> I have been reading a bit about EXM - and have come to the conslusion it can go two ways.  Obvious really.
> 
> I cant work out why people are relating it to KAL, and then run that it had its results when the market cap of KAL is already less than half of EXM.
> 
> Can anyone shed any light on that side of things?  EXM have a bigger drill area?




firstly if you use the fully diluted market caps of both companies EXM is not worth double KAL it works out to be around $13 million more, last time I worked it out.

the reason why so many are exciting about the possibilities of EXM is the location of their drill campaign, historically they have had some incredible drill results from the area (see recent agm presentation for historical results), the big advantage that EXM has over KAL is average grade.

I'm not saying that EXM is a better company than KAL as I have made significant money out of both, but the reason alot of people value EXM higher than KAL is the higher head grades and explorational upside.


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## Spaghetti (13 December 2007)

Mick they both have a target of 2 million oz. So not sure where the greater exploration upside for EXM comes from.

You cannot compare grades of 1,2 moz against a deposit of what ? less than 200,00 oz for the open pit jorc of EXM. EXM does have the better average grade for the open pit but then KAL could just leave out most of it's resource and make the same claim for perhaps even more than 200,000 oz.

KAL is at the end of a resource definition stage and EXM at the start. EXM have stated they need to do a capital raising and 12 mths drilling campaign, KAL has finished so market cap for EXM is about double.

I see EXM as far more speculative, no drill results yet. However it has been accumulated by someone..so either stock manipulation or they know more than anyone else. They have that advantage and nothing more at this stage. Company run by a stockbroker? perhaps knows the tricks to get buyer interest. Never hurts. But it has been the main factor in the increased s/p. Not news, not the POG, nothing has pushed this s/p up more than the accumulator. So you would hope they do know more than the market but all I read is they MIGHT have a good resource. No proof whatesoever. I only imagine they would not undertake a drilling campaign if they did not hold out much hope but that does not make them a better choice than KAL.

Grade comparison is useless as I have pointed out before, as EXM include underground grades in it's average. You cannot compare an apple with an orange. They have started drilling the open first because it is easier and cheaper to mine. If grades were of the essence first off the rank would have been juno.

I am not downramping EXM at all, like yourself , have made money from both but gold is very, very difficult to find in large quantities at higher grades so I would not try to get anyones hopes up with totally no proof.

I hope it does well and maybe with the accumulator onside people can make soem money but it will not be due to any fundamental reason at this stage.


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## mick2006 (13 December 2007)

Hey Spaghetti, I am certainly not forcing anyone to buy into EXM, yes they are certainly a speculative stock.  

They do have a JORC resource of 530,000 oz's at a head grade of 7.12 g/t

The only thing investors can base any decisions on in regards EXM is the historical drill results they have released, the fact they have a decent JORC resource, and the area they are exploring is very prospective for gold (if they actually find anything more its unknown at this stage but likely given location)

There is no doubt the stock is being manipulated and it is very very frustrating, for what reason I guess it will unfold over time.

EXM is one of those stock that is high risk/high reward so its not for the feint hearted.


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## kevinecom (13 December 2007)

mick2006 said:


> Hey Spaghetti, I am certainly not forcing anyone to buy into EXM, yes they are certainly a speculative stock.
> 
> They do have a JORC resource of 530,000 oz's at a head grade of 7.12 g/t
> 
> ...




Mick,
If that's the case, I think EXM should have more than 1Moz if they use the cut off grade of 1.7gt like Kal. EXM has higher grade than KAL.


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## Aargh! (13 December 2007)

mick2006 said:


> Hey Spaghetti, I am certainly not forcing anyone to buy into EXM, yes they are certainly a speculative stock.
> 
> They do have a JORC resource of 530,000 oz's at a head grade of 7.12 g/t
> 
> ...




Hi mick,

I'm not certain how this stock is being manipulated. What evidence should I be looking for to come to this conclusion?

Thanks


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## mick2006 (14 December 2007)

Hi Aargh,

if you have been closely watching the trading in EXM this week on several ocassions very large sell orders have been placed just above market price to try and spook holders to sell, what follows is a quick sell off by panicked holders and some large buying and as soon as it has played out the sell order is removed.

its unfortunate but most specs see this type of market manipulation from time to time.

Cheers

mick


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## wombo (14 December 2007)

Last night a whole slab (12mil) of options where given out to directors. I think the announcement might be pretty good


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## nowork (14 December 2007)

wombo said:


> Last night a whole slab (12mil) of options where given out to directors. I think the announcement might be pretty good




I hope the announcement is soon, as I can't handle waiting. 

Hmmm hopefully pretty good.


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## nowork (17 December 2007)

Wonder if results will be out this week.

Should be an interesting week to see which way EXM goes and if there will less trading up until the announcement or not.


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## Sean K (17 December 2007)

Punters expecting potential high grade results from Juno should perhaps be prepared for lower grades from the other targets.

From the last update:



> These holes have consisted of RC precollars at *Nobles Nob, and RC holes at Rising Sun and Nobles Nob West*. The balance of the programme (approximately 7,000m) should be completed before the end of January 2008.




Check previous drilling at these deposits for the likely grades.

Juno in Jan by the sounds.

I say this as a suggestion that dumping shares on an ann that only indicates 20 g/t or less when there are expectations of 100 g/t ++, may not be fully considered. I expect that there will actually be a sell off because the market will not be fully aware that the Juno drilling has not been completed yet (from what we have been told) so it may represent an opportunity to me. 

Unless anyone has a more advanced drilling update via the phone?


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## mick2006 (17 December 2007)

certainly copping a beating today Kennas, I was a little concerned by the price action on Friday, it looks like the general market outlook is starting to overide any possible upside from the Tennant Creek exploration.

For the patient investor there is money to be made here, the results will flow over the coming months and hopefully the buyers will return, when the market settles down a little bit.


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## adobee (17 December 2007)

kennas said:


> Punters expecting potential high grade results from Juno should perhaps be prepared for lower grades from the other targets.
> 
> From the last update:
> 
> ...





It looks like there is already a bit of a sell off this morning.. 
$17 million shares sold so far down to 3.7c


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## AussiePaul72 (17 December 2007)

mick2006 said:


> certainly copping a beating today Kennas, I was a little concerned by the price action on Friday, it looks like the general market outlook is starting to overide any possible upside from the Tennant Creek exploration.
> 
> For the patient investor there is money to be made here, the results will flow over the coming months and hopefully the buyers will return, when the market settles down a little bit.




Mick, I'm hoping this sell down today is a good thing. The last thing i want to see is the market factoring in an extremely good announcement before any news is released which is a recipe for a big sell off when the announcement finally comes out.
I got in at 3.3-3.4 and i'd be happy if the SP hovered in the high 3's prior to drilling news release!


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## Bushman (17 December 2007)

AussiePaul72 said:


> Mick, I'm hoping this sell down today is a good thing. The last thing i want to see is the market factoring in an extremely good announcement before any news is released which is a recipe for a big sell off when the announcement finally comes out.
> I got in at 3.3-3.4 and i'd be happy if the SP hovered in the high 3's prior to drilling news release!




With you there Aussie P - EXM has now been sold down for about 5 days in a row and finally buyers have dried up. It is a poor day for the markets all round so sell down is to be expected. 

I don't think EXM should be a short term play - see the drilling results through and go for 2.5m oz. No point betting on one announcement. Some will be good, others bad.  

Anyway ZFX's takeover for AGM taught me to stick by your instincts - sold those a month ago based on the way the sp was behaving rather than the obvious takeover potential. You never know what is around the corner and smart plays remain smart plays no matter what the short term market action. 

Now if you want to see a bad ann, check out my employer CNP. A painful day at the office.


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## JTLP (17 December 2007)

The SP has been copping a battering today, but seems to have found resistance around the 3.8 cent level. Are the tennant creek results due this week? And are most of the sellers just nervous nellys trying to get in an out before T+3?


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## imaginator (18 December 2007)

JTLP said:


> The SP has been copping a battering today, but seems to have found resistance around the 3.8 cent level. Are the tennant creek results due this week? And are most of the sellers just nervous nellys trying to get in an out before T+3?




when is the tenant creek report coming out?

EXM got a beating today, now at 33

seems like many people think yesterday's 37 and 38 was cheap.


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## nowork (18 December 2007)

Not sure, hopefully soon.

With the week we are having on the market, if the news comes out positive. This could fly IMO with people searching through the blood for some green.


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## AussiePaul72 (18 December 2007)

Well, I'd be interested to know what other ASFers think of todays SP movement? At the end of the day I was very encouraged. The SP slipped with the sentiment of the market this morning and was sold down. I'm not a TA person but it would appear that EXM has a very good support level around the 3c mark (Techies may want to comment further on this). With the XAO climbing back from nearly 150 points down, EXM rebounded well to finish at 3.6c. As mentioned before, i'm very comfortable with seeing the SP sit in the 3's prior to the first set of drilling results being announced. DYOR as i just tell it how i see it ..... which isn't always right!!! Good luck to all fellow holders and bring on the announcements


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## Kremmen (18 December 2007)

Interesting to see the new announcement that Aspermont increased their stake betwen 28/11 and 11/12 from 12.10% to 13.48%. I guess the question is: do Aspermont know what they're doing? As another play, is it worth buying Aspermont itself?


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## cuttlefish (18 December 2007)

ASP's stake increased due to shares issued to them for sale of Clement resources. They got 35 million shares.  (they've sold 10 million in Nov at avg price of 3.95c then the 35 million were issued to them 14 Dec).  (see appendix in the change in substantial shareholder notice).


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## Kremmen (20 December 2007)

New placement announced this morning: Shares at 3c carrying a free 2012 option with a 6c exercise price.


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## nowork (20 December 2007)

SP taken a hit already from this?

Why can't they just announce the drill results. 

That would be more exciting.


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## imaginator (20 December 2007)

Hey there is a thick announcement today.

Does it include any result or indication for Tennant Creek?

Or is it just about the new placement?

Did someone have a read? PLease summarise


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## adobee (20 December 2007)

I am sure I read a few people suggesting drilling results due out in a week and this was at the end of November.... The most exciting announcement EXM has made so far is a placement...  I am loosing my enthusiasm for this now..


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## nowork (20 December 2007)

adobee said:


> I am sure I read a few people suggesting drilling results due out in a week and this was at the end of November.... The most exciting announcement EXM has made so far is a placement...  I am loosing my enthusiasm for this now..




I thought the drill results were always coming out mid dec? I was hoping before christmas anyway.


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## Cor$air (20 December 2007)

The most recent Tennant Creek Progress Report stated, "around mid December, as available." But in the tradition of keeping the market sweating, they are late. This could have something to do with labs being backed-up i suppose but who knows really...

As for the Prospectus, I'd be interested to hear people's thoughts on the psychology behind the placement price. 

Obviously the placement price needed to be attractive to raise enough capital. However does 3c reflect a bearish short-term outlook from management or was it always to be 3c? If they were bullish on the upcoming results, then one would have thought they could jack the placement price a little higher - at least 3.5c. Instead, they've used data from the last three months, ranging from 2.6 - 4.8. This is actually more accurate and reflective i think, and takes into account the impact of Traders but it's still at the LOW end of the trading range.

It's definitely a dangerous time to be holding an unproven smallcap, with some dilution to come and results due out any moment. On top of that, the market is not friendly to smallcaps atm with the current instability.

Also, lets not forget that Juno is not included in the first set of holes being tested. We're mainly talking NNW and M10 (see web site for historical grades and computer modelling estimates)

Good luck to the brave


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## catman (20 December 2007)

Guys if you read closely and have held for a while you would know that this was approved at the AGM some time ago, its not a placement per say and only relates to option holders.  Essentially, if you hold options and exercise early you get a free option to expiring 2012, if you dont exercise your current option now you wont get your freebie and the shortfall of 2012 options will be sold off as a placement to LT holders.  Seems like a much friendlier way of raising funds and not diluting.

 Hope this helps!


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## adobee (20 December 2007)

catman said:


> Guys if you read closely and have held for a while you would know that this was approved at the AGM some time ago, its not a placement per say and only relates to option holders.  Essentially, if you hold options and exercise early you get a free option to expiring 2012, if you dont exercise your current option now you wont get your freebie and the shortfall of 2012 options will be sold off as a placement to LT holders.  Seems like a much friendlier way of raising funds and not diluting.
> 
> Hope this helps!




tell that to the rest ofthe market they should change the heading of the annoucement press release... Placement for Option Holders ONLY


----------



## imaginator (1 January 2008)

hey guys,

whats happeningto EXM?
when is the tenant creek thingy coming out?

People have been waiting for it!

Everone thought middle of december?


----------



## AussiePaul72 (1 January 2008)

imaginator said:


> hey guys,
> 
> whats happeningto EXM?
> when is the tenant creek thingy coming out?
> ...




Hey all,
I wouldn't be too concerned and i wouldn't be blaming the company for the hold up of Tenant Creek results as it seems that more and more drill results for a number of companies are taking longer and longer due to the bottleneck going through the labs. I guess this Christmas/New Year time of year isn't helping either!
Its a sign of the times and the amount of drilling that is taking place across our nation ......
Hopefully we won't have to wait too much longer! Good luck to all


----------



## nowork (3 January 2008)

Anyone see that 4,000,000 order go through in the last 10 minutes?

Maybe someone knows something...


----------



## adobee (3 January 2008)

nowork said:


> Anyone see that 4,000,000 order go through in the last 10 minutes?
> 
> Maybe someone knows something...




Closed up strong on an off day.. Not bad especially when you could have bouoght shares cheaper for the last two weeks.. 

see what happens...


----------



## vert (3 January 2008)

is this a rising 3 patern forming? looks to have found a base at 3.3cents and with the first results any day soon the sp should be heading north


----------



## nowork (3 January 2008)

If we get some positive results with this poor market, i think it will definately head North.

Still keen on why that 4,000,000 went through with 10 minutes to go.


----------



## Doris (3 January 2008)

vert said:


> is this a rising 3 pattern forming? looks to have found a base at 3.3cents and with the first results any day soon the sp should be heading north




If you draw a line from the .044 close on 13 Dec to the .036 close on 28 Dec you'll see today broke up.  With 4 million crossed late today... 2/3 of the day's volume... Looks promising!

I bought in at .034 today as THIS had broken up from this trend line and buyers were lined up.  

Line-up is .033 : .035   Buyers are 4:3.  

I'm a novice using 'female intuition'.  And the fundamental analyses of you guys!


----------



## vert (4 January 2008)

this is building nicely today with some decent sized trades going thru up to 3.7 cents, with the buy side increasing we should see a break of 3.7 soon.

maybe we will see some profits from GDA move over here after its break out today


----------



## Doris (4 January 2008)

vert said:


> this is building nicely today with some decent sized trades going thru up to 3.7 cents, with the buy side increasing we should see a break of 3.7 soon.
> 
> maybe we will see some profits from GDA move over here after its break out today




Yes.
Have noted the buyers are going right to the seller.  Not lining up first.
the current .035 & .036 have been there for brunch.


----------



## Doris (4 January 2008)

Doris said:


> Yes.
> Have noted the buyers are going right to the seller.  Not lining up first.
> the current .035 & .036 have been there for brunch.




Wow.  Does EXM look good on my chart!
If it had closed at .036 instead of .037 I would have been worried.  It's broken up!  Yeah.  Barack wins and EXM breaks out.  A good day!
Now for the ann!  Yes!


----------



## zt3000 (6 January 2008)

Just curious, but would there be any disadvantage to not taking up the options offer and holing onto the Dec 09 3c expiry options?

Just trying to think as to why they trying to get people to exercise the 09 options now???


----------



## Doris (6 January 2008)

zt3000 said:


> Just curious, but would there be any disadvantage to not taking up the options offer and holding onto the Dec 09 3c expiry options?
> 
> Just trying to think as to why they trying to get people to exercise the 09 options now???




Wouldn't this give them capital funds without diluting the shares?
Options are there already.  Owned by shareholders.
New shares dilute the value of existing shares.


----------



## zt3000 (7 January 2008)

Doris said:


> Wouldn't this give them capital funds without diluting the shares?
> Options are there already.  Owned by shareholders.
> New shares dilute the value of existing shares.




Cheers Doris

They say patience is a virture but dam ... waiting for results is like watchin paint dry and then repainting and watching it over again ......

lol ... imagine they hit a nugget in consecutive drill holes ahah that would be funny to watch .. or even better .. they strike an oil reserve ahhaha

Excalibur Oil hhahaha


----------



## Go Nuke (7 January 2008)

So I'm new to Excalibur guys.
From what I have read they are expecting to release some drill results for their gold tenaments in the N.T any day now right?

I first took notice of EXM when i saw it in the top 10 list in the paper for volume some time ago.
I see they have had some awesome hits from historical drilling in the N.T.

Is there anything else i should know anbout this company?

Cheers 
\GN


----------



## nowork (8 January 2008)

Interesting close at 3.6 cents, 8 shares. haha

Damn, wonder if these results are going to come out soon.


----------



## zt3000 (8 January 2008)

Go Nuke said:


> So I'm new to Excalibur guys.
> From what I have read they are expecting to release some drill results for their gold tenaments in the N.T any day now right?
> 
> I first took notice of EXM when i saw it in the top 10 list in the paper for volume some time ago.
> ...




Was historicaly mined. Now they redrilling certian targets. As far as i understand these mines where abandoned in the 70's at aprox 20g/t Au as gold was at aprox $280oz. Now mines are feasable at 3g/t Au as gold is $850 oz.

So if they get some good grades like historically shown then imo strap yourself in.

First drilling results where due in mid-december or as results recieved. Obviously we havn't got them yet so everyones edgy as to how much longer they have to wait hahaha


----------



## Go Nuke (8 January 2008)

Ah I see.
Thanks for the historic prices and the valuation in digging the stuff up. I didn't know that.
Some of those historic grades are awesome in my opinion!

I suppose 1 good thing I see is that it looks like the electromagnetic annomolies that EXM were drilling and the results that we are all waiting for, might come out close to the other drilling targets at Nobles Nob, Rising Sun and Nobles Nob West that were expected to be finished by the end of this month.

2 great announcements would be awesome.

Immagine if the DOW gain 200+ points on the same day.......
(We can all dream cant we )


----------



## nowork (9 January 2008)

A lot of action today, maybe we will see 4c today.

Wonder if the news will be out soon.


----------



## sagitar (9 January 2008)

Almost broke the 4c barrier on this morning's run...there's definitely interest returning to EXM. 

May re-test it again this arvo.


----------



## shaunm (9 January 2008)

Hey Guys,
are we expecting news this week or next week. Man I am getting a bit impatient and keep looking at market depth, it's really hovering between .037 & .038.


----------



## wildmanchris (9 January 2008)

I think its a safe bet, that you can say that in all certainty the results will be out in exactly...............

 

Alot of people waiting for these for some time, and I dont think anyone has a definite answer.


----------



## franga28 (9 January 2008)

sagitar said:


> Almost broke the 4c barrier on this morning's run...there's definitely interest returning to EXM.
> 
> May re-test it again this arvo.




Finally broke 4c barrier.  Seems to definately have interest returning.
Lets just hope for some good results soon!!!


----------



## zt3000 (9 January 2008)

would be nice to see some good grades now announced ... with gold @ $880 US oz its a good time to be release such news

although alot of the spec gold stocks have had interest taken in them of late... will be interesting to see the driving factor behind this


----------



## Doris (9 January 2008)

Doris said:


> Wow.  Does EXM look good on my chart!
> If it had closed at .036 instead of .037 I would have been worried.  It's broken up!  Yeah.  Barack wins and EXM breaks out.  A good day!
> Now for the ann!  Yes!




I hope today was a leak somewhere and not just anticipation!  
There has not been this volume since EXM reached it's all time high close of .046 on Dec 6.  
Highest intraday was .048 on Nov 28. Looking good!

Now for the ann?  Yes?  

And Barack won as many delegates as Hillary... so he's a winner too!


----------



## Wilson! (9 January 2008)

As a holder of kal, I finally bought into exm today, as I saw the volume and depth movements hinting at a breakout potentially. 

And a close on the days high of 4c is very bullish, so expecting a good run here
Looking forward to the first ann, and even more for the one after that 

Cheers,
Wilson


----------



## shaunm (9 January 2008)

Yeah Wilson it was a nice run today. I jumped in and out for a nice little 15%profit. With the way the market is right now I just couldn't let it sit there o/night.
If it all looks good tomorrow I'll hop back in.


----------



## moneymajix (10 January 2008)

More buying today, up .003 to 4.3c.

It will be interesting to see what sort of volume it does today.


LOL.


----------



## adobee (10 January 2008)

Looks positive today.. 
I have been advised that there is an article in the telegraph talking up EXM today.. I havent seen it though, if anyone has please advise /?


----------



## nowork (10 January 2008)

Can't find anything yet.

Looking on the Daily Telegraph website.


----------



## yuyry002 (10 January 2008)

with DOW recover a little bit and POG hit record high, i though today was the best time to release those drill results but it didnot happen. how long do we have to wait? hope it comes out real soon.


----------



## moneymajix (10 January 2008)

_Courtesy of sexysue post on HC today re Telegraph article._


Its in the paper itself on page 65 of(theinsider section)

Title: CUTTING EDGE STUFF

Plenty of interest on the quiet for Excalibur Minining yesterday, closing up 11% on strong volumes. Holders have been patiently waiting for drilling results out of Tennant Creek Project.

Perhaps the results are nice and juicy. EXM could very well become a rocket.

End quote:


----------



## Aargh! (10 January 2008)

moneymajix said:


> _Courtesy of sexysue post on HC today re Telegraph article._
> 
> 
> Its in the paper itself on page 65 of(theinsider section)
> ...




Thanks for that post moneymajix. 

More of a mention than an article...

Obviously starting to draw some anticipation as we move to mid Jan with the last two days trading at over 50m shares per day.

Hopefully the lab rats have returned their livers from the front gate and are busy preparing good news for all holders.


----------



## Go Nuke (11 January 2008)

Gee it was holding up well this morning but again only managed to hit .044c

What the hell is going on with the ASX today!
The DOW is up _again_ but we are sliding down??

It would have been great for those ann to come out to take advantage of the record gold prices. I'm guessing that gold will start to retreat a bit soon after some stellar runs up.

Hopefully this wont affect the size of the rocket that *hopefully* goes under EXM's share price.


----------



## Drubula (11 January 2008)

Big things from EXM have been discussed of recent times hinging on the drilling results due anytime. Any delay in the drilling results would have an effect on the present market fluctuation of the share price.

Good daily buy and sell.


----------



## wildmanchris (11 January 2008)

Can someone correct me if i'm wrong - but they would have to have some MASSIVE drill results to send this flying.  Its already got a large market cap for a gold spec play.

I know the historicals are good, but.....

Disclaimer:  Have traded, scared to hold for annoucement.


----------



## alankew (11 January 2008)

Chris i think the point is as YT made a couple of days ago,punters are looking for companies in which they can buy a shed full of shares and make 100% in a day.Not saying anything about EXM but think this is whats happening here


----------



## AussiePaul72 (12 January 2008)

I wonder if something is brewing here ......... in terms of an announcement or whether its just day traders riding EXM!
Last 3 days of trading have consistently seen over 50 million traded each day. We haven't seen those sort of volumes since late November. Its sent the SP up into the high 3's and up to 4.4 on Friday morning. I got the feeling that it was only market sentiment that pegged it back to high 3's at close.
Looking at current market depth, it will only be the Dow's fall on Friday and flow on effect to the XAO on Monday that will seem to prevent it from heading into the 4's again.
I'm an EXM holder and had a sell order in for a portion of my holdings at 4.3 on Friday but just missed out. I agree with some previous comments that the announcement would have to be a VERY good one (which isn't out of the question) to send EXM rocketing up as it has a reasonable market cap of over $50 million now.
What do others think?
Best of luck to all and DYOR


----------



## Aargh! (15 January 2008)

Trading halt pending announcement later this morning. Hopefully what we have been waiting for.......


----------



## poguemahone (15 January 2008)

Riight

I had a sell in this morning as well!!

anyway hope all good news

and did you see the price of Gold this AM... The yanks are reverting to the lumpy mattress method



Pog..


----------



## Jockstar73 (15 January 2008)

And it would seem to be a perfect day to announce (thinking that it will be a "good drilling result" announcement) imo


----------



## mick2006 (15 January 2008)

one would think it will be the first set of results from the tennant creek gold exploration program, and given they have gone into a trading halt it should be good news, rarely do companies go into a trading halt to release ordinary exploration results.

Hopefully it is what we have all been waiting for.


----------



## Bushman (15 January 2008)

mick2006 said:


> one would think it will be the first set of results from the tennant creek gold exploration program, and given they have gone into a trading halt it should be good news, rarely do companies go into a trading halt to release ordinary exploration results.
> 
> Hopefully it is what we have all been waiting for.




There was big volume last week as well. Hmmmm....

I am hoping it is good drill ann as well on Juno. Would set EXM up for a good year as it firms up the 2.5m ounces. 

But time will tell.


----------



## nowork (15 January 2008)

Far out, now we wait.....

and wait.....

and wait.....

I am too impatient....

 or


----------



## Go8688 (15 January 2008)

Yes, I can't wait anymore either,,
How far do you think it will go? anyone has any ideas? How many more announcement would there be after this?


----------



## Sean K (15 January 2008)

Go8688 said:


> Yes, I can't wait anymore either,,
> How far do you think it will go? anyone has any ideas? How many more announcement would there be after this?



You're assuming it's good news, I assume? On past results, you may assume so. How high might depend on how hard it's ramped at HC. You won't know a fundamental value of the company until there are many many more drill results completed and a PFS done at least. In the meantime, lots of speculation. If they are 'outstanding' beware of a pump and dump. Hope they're good for holders!

If they are in fact drill results.....


----------



## Jockstar73 (15 January 2008)

The announcement did say that it would be "Later" this morning...    so I recon it will be 11:59 & 59 seconds


----------



## Absolutely (15 January 2008)

Go8688 said:


> Yes, I can't wait anymore either,,
> How far do you think it will go? anyone has any ideas? How many more announcement would there be after this?




Watch out the hype - this may not go to the plan you are expecting even if the results are good. These things are governed by emotional hype and not by fundamental value. Talking about how far can it go is not useful and dangerous.


----------



## adobee (15 January 2008)

Hopefully will be good news however I think that EXM is highly over anticipated.. every man and there dog talks about EXM and has a parcel waiting for the 'great announcement' the problem is whos guying to buy it if everyone already owns and is waiting to bag there return & sell .. who on this thread is actually holding EXM for the long term ???


----------



## Bushman (15 January 2008)

Absolutely said:


> Watch out the hype - this may not go to the plan you are expecting even if the results are good. These things are governed by emotional hype and not by fundamental value. Talking about how far can it go is not useful and dangerous.




Agreed - there could well be a dump on the ann release. Has happened to me quite a few times. It all comes down to what is ann vs what traders expect there to be ann. Also you never know what games traders are playing until the transactions hit your screens. 

Play it how you see it, keep in mind that this is drill result one of many (if, indeed, it is drill results) and watch the pump and dump if results are good. P&D happens every time as this stock is very well known and the fact that drill results are out now is also very well known.

Having said that, I am VERY INTERESTED in seeing what is in this ann. Good luck holders.


----------



## UPKA (15 January 2008)

Jockstar73 said:


> The announcement did say that it would be "Later" this morning...    so I recon it will be 11:59 & 59 seconds




I think its gonna be Perth time not the eastern std time... so its couple of hrs behind, say 1.30pm-2pm.


----------



## Rocket man (15 January 2008)

This will be the first of a series of announcements due over next few months from the huge drilling campaign. I will hold .... assuming the 1st Ann is good of course which I think it will be


----------



## poguemahone (15 January 2008)

Yep

I think I have worn out my refresh!

...............................................

anyway

I hope this is not the first of missed deadlines? :

Pog


----------



## franga28 (15 January 2008)

I would not be suprised if we dont receive the announcement today.

Waited long enough for the results, whats an extra day!


----------



## shaunm (15 January 2008)

Announcement in:

Highlights
· Nobles Nob West - 6m @ 37.50g/t Au from 63m
· Rising Sun – 16m @ 1.23g/t Au from 40m
· Diamond drilling continuing and second round of RC will commence
at end of January 2008
· Placement of $7.8M completed over-subscribed. Issue of new shares
and options likely to be concluded by the end of January 2008.
Excalibur Mining Corporation Limited (ASX : EXM) today announced preliminary
results for some of the early round of RC drill holes at Nobles Nob West in its
Tennant Creek Project.
Managing Director Mr Alex Bajada said “We are very excited about these results
as it is the first confirmation we have of the high grades previously discovered”.
“Excalibur’s ongoing drilling programme is focused on both confirming the
historical drill results as well as targeting new anomalies.”
Excalibur released part of its database to the market on 19 September 2007
“Tennant Creek Drilling Programme”, which showed Nobles Nob West having
significant drill results.
Interim results have been released because of the significantly high grades
discovered. Further information and results will be announced in relation to the
holes outlined as they become available.
Nobles Nob West
Initial holes were planned to infill existing drilling which previously defined gold
mineralisation. These historical holes had intersections of up to 12.8m @ 5.44g/t
Au from 127.4m and 7.31m @ 6.6g/t Au from 118m. A total of 11 holes were
drilled in the current programme on 20m spaced lines and the following table lists
the significant results from 2 of the initial 9 holes. These holes were designed to
target various depths between approximately 50 and 200m.
The significance of the new results is that the discovery is at only 63m depth and
will demand further drilling
Hole Easting Northing From To m Au g/t
ENWRC005 424647 7820117 161 164 3 9.91
including 162 163 1 25.70
ENWRC009 424718 7820047 63 69 6 37.50
including 64 67 3 67.40
and 68 72 eoh 4 1.68
Note Hole ENWRC009 ended in mineralisation. This hole will be extended via
diamond drilling.
This mineralisation occurs over a strike length of at least 100m and remains open
down dip and also along strike to the west. This area will be subject to additional
RC and diamond drilling with a view to establishing a JORC compliant resource.
Rising Sun
Initial holes were planned to test the down dip extensions of previously defined
gold mineralisation. A total of 5 holes were drilled on 100m spaced lines and the
following table lists the significant results. These holes were designed to target
depths up to 150m.
Hole Easting Northing From To m Au g/t
ERSRC003 427491 7819845 40 56 16 1.23
and 96 104 8 1.49
Note these results are 4m composite results only.
The next round of drilling at Rising Sun will infill the existing drilling with a view of
defining a JORC compliant open pittable resource.
Nobles Nob East
Diamond drilling has commenced on the NE4 electromagnetic anomaly along
strike from the Nobles Nob open pit. The hole has yet to reach target depth.
For further information, contact Alex Bajada, Managing Director, on telephone
08 9486 1122.


----------



## Go Nuke (15 January 2008)

Yep doesn't look like its going to happen today guys

I was at work looking on the net with my phone every 30min trying not to miss the ann release.

Personally I'm not in EXM for the long term, I'm aiming for that pump and dump you are talking about

Hey..dont blame me...my holiday this year depends on it!!:bananasmi
I did set a stop loss today also as i too have noticed over my small about of time in the stock market, that all too often traders were hoping for SO much more...and the stock tanks!

So do people belive that the Mkt Cap of EXM is starting to get high? I thought I read that somewhere.
I know little about Mkt Caps so it doesn't mean a whole lot to me.

Hhaha  I was beating while typing...oh well.. now I can go read the ann



I know they are just exploring and aren't producing but is $51Mil getting high??
Thx and I hope we all do well from the announcement.


----------



## Go Nuke (15 January 2008)

Ok..well I know nothing about gold, but some of those hits at Nobles Nob looked awesome!!! am i right?

Rising Sun looked pretty disappointing though.
\Still I should be a good day tomorrow.

A very well timed report by EXM to take advantage of the gold price!


----------



## Bushman (15 January 2008)

Go Nuke said:


> Ok..well I know nothing about gold, but some of those hits at Nobles Nob looked awesome!!! am i right?
> 
> Rising Sun looked pretty disappointing though.
> \Still I should be a good day tomorrow.
> ...




The important part of the announcement is the following statement by the CEO:
'Managing Director Mr Alex Bajada said “We are very excited about these results
as it is the first confirmation we have of the high grades previously discovered”.
“Excalibur’s ongoing drilling programme is focused on both confirming the
historical drill results as well as targeting new anomalies.”'

Also 37.5 g/t is awesome.

Having said that you might have some of the lunatic fringe sell out tomorrow judging by the rampers site. They were gunning for 200 g/t at 6m!! El Dorado... 

The story has just begun IMO.


----------



## JTLP (15 January 2008)

Bushman said:


> The important part of the announcement is the following statement by the CEO:
> 'Managing Director Mr Alex Bajada said “We are very excited about these results
> as it is the first confirmation we have of the high grades previously discovered”.
> “Excalibur’s ongoing drilling programme is focused on both confirming the
> ...





LOL i read that as well!!! Worst call ever. Seriously HC should be shutdown. The only thread worthy is PLV due to the fact the MD is on answering questions.

The grades are preliminary yes, and with more drills to come, i think the t+3 will exit and people serious about the position of EXM will accumulate. This stock has recovered good grades thus far, don't be fooled by people who expect 200g/t @ 6m (unless of course you live with Peter Pan =))


----------



## Kremmen (15 January 2008)

From the (admittedly little) reading I've done, it seems that a lot of profitable mines are in the 2-4g/t area. 37.5g/t has to be superb if it's of a decent size.


----------



## Alex11 (15 January 2008)

Hi all,

I am new to this stock, but excited about it,  has anyone done some serious analysis yet about this ann, 

can anyone quantify the effect on tomorrows SP, what are the likely scenarios.

good luck

Alex11


----------



## Bushman (15 January 2008)

Hi Alex;

Today's announcement needs to be seen in context of EXM's 2008 drilling program over its Tenant Creek and Tanami project.

Tennant Creek project:

Drilling over two old producing mines and surrounding areas using modern drilling techniques. Project is currently under written by a JORC of 532k oz over the two sites. Drilling campaign is designed to test and confirm historical drilling data. Data was presented in a June 2007 investor presentation:  

http://www.excaliburmining.com.au/IRM/Company/ShowPage.aspx?CPID=965&PageName=Investor Presentation

Key historical drill results include:
Weabers Find North (40.6m @ 3.55 g/t from surface)
Rising Sun (12m @ 23.7 g/t from 20m)
Rising Sun East (15.24 m @ 16.73 g/t from 108m)
Juno South (3.05m @ 18.67 g/t from 120m)
Nobles Nob West (8m @ 35.03 g/t from 248m)
Juno Deeps (13.4m @ 28.4 g/t from 253.6m)
Juno West (4.9m @ 18.22 g/t at 343m)
Juno East (2m @ 11.03 g/t at 356m).

Today's preliminary drill results at Nobles Nob (37.5 g/t at 63m) and Rising Sun must be seen in this context. Further, EXM mgt are excited by the prospect as for the first time they have current drill results that support the historical database. Drilling will continue and there should be extensive drill results released with the ultimate aim of extending the 500k oz resource to 2m + oz. In this context, today's announcement must be seen as a good start. 

Note: presentation gives valuation of current JORC (532k oz) at in-ground value of $100 per oz at 4.4 cps. Current POG is $800+ per oz! 

Tanami Project:
Rich goldfield that has produced 11m oz gold. EXM hold approx 12,000 km² in this region with a database of historical results inc a surface sample of 119 g/t. This will also be aggressively drilled. No idea what lies beneath but it is prime real estate. 

SP -tomorrow. No idea. It is a much followed and traded stock. Many will not have researched the company and may have been expecting unrealistic grades and 2m oz JORC in this ann. So they might sell it down and move on to the next big thing. However over the life of the drilling campaign, SP should appreciate up to point where JORC is confirmed. 

Much water to cross under the bridge and off course, exploration success is not guaranteed. However it is a great start - hence the trading halt. 

All IMO only. Off course, DYOR. 

Cheers
Bushman


----------



## Kalmsg (15 January 2008)

Have a look at the historical drilling results for this one from the 1930s to the 1970s.

Some of the gold grades per tonne were phenomenal.

Drilling in the old days was stopped when samples of 20 grams per tonne or less where hit. An areas left untouched due to this.

Now most mines work on grades of  2 to 3 grams per tonne and can make a profit form it.

The tenements that Exm have acquired where leases that where given up by a big miner about 2000.

That was when gold was about 260 to 270 US dollars a ounce. an it was then uneconomical to produce due to cost factors.

But look at gold today it has hit a record of $909 US dollars an ounce.
The grades are far more than 2 to 3 grams on average which in itself is good grades by today's standards.

Does not need infrastructure to produce as another company will process all the ore it can take for extraction and it is close by as well.

This company has a great future ahead of it.

It is also constantly drilling now for at least 18 months and that is till about April 2009 so more results and good grades and resources should be found over the coming months and year.

The shares will not be at these levels for long and the options EXMO are a steal


----------



## Alex11 (15 January 2008)

Many thanks guys, I think  ( from the little research i did in the last few hours) that you are on it ...it looks like a good L term one to hold to if you are a LT investor, but also looks good for trading specially with the huge interest in it (and keeping it at arms length)

wish you all well

ALex11


----------



## wildmanchris (15 January 2008)

Go Nuke said:


> Hey..dont blame me...my holiday this year depends on it!!:bananasmi
> I did set a stop loss today also as i too have noticed over my small about of time in the stock market, that all too often traders were hoping for SO much more...and the stock tanks!




Agree the results are great - but the results looked much like the historical grades that they knew were there.  I would be interested if they drilled in exactly the same spots or not, and what else they have around the tenement.  

I think a good portion of the traders on this share are looking to pump and dump as well - so I hope who ever in on EXM does well on it tomorrow.  Agree re the long term prospects look very good.


----------



## OBK (15 January 2008)

it's a pity HC has turned into a slanging frenzy, i do find it useful (at times)

my personal opinion is the results are very good, not great
i'm not sure why people are complaining about 6m @ 36 g/t from 63m

rising sun was disappointing, but historical drill results were as deep as 260m
so to find that amount of gold, 200m closer to the surface, yet people are saying it's no good, i'm not quite sure why 

mind you there's a long way to go, with plenty of more results coming soon


----------



## Mrs Chippy (16 January 2008)

I am new to trading. 

The results seem positive and I might sell some of my shares to make a marginal profit.

Does anyone know how much of the exploration costs can be recovered by EXM's resources?

Thanks


----------



## Sean K (16 January 2008)

Mrs Chippy said:


> I am new to trading.
> 
> The results seem positive and I might sell some of my shares to make a marginal profit.
> 
> ...



Mrs Chippy, they are a long way from mining. Forget income for quite some time. They'll have to go to the market again for final drilling probably and PFS/BFS/Capex...


----------



## Absolutely (16 January 2008)

Well the results were in line with expectations. Nothing more or less. However the SP does seem to be to be doing a little better on opening then I expected given the shocking Wall Street lead.

We should all treat this as a bottom drawer stock. Lay down $5000 say and come back in 10 years time and your retirement might be paid for.


----------



## Go Nuke (16 January 2008)

Well I'm a bit shocked really that it has ended the day down...though happy to see it didn't get dumped at the start of the day like everything else on my watchlist.

I really thought the sp would have gotten over that.04c range but it was not to be.

Can someone please tell what they mean by "diamond drilling the electromagnetic anomaly"  at Nobles Nob East means?

Does it mean that there is no historical drilling to go by and there is just an unknown anomaly there...ie gold?

All in all I'm hopeing for a better day tomorrow but it looks as though .035 will act as support.


----------



## Yeti (16 January 2008)

I would guess that the fact that they're using a diamond drill rig (more expensive than RC) indicates that they are fairly certain there is something there and they want accurate samples.


----------



## poguemahone (16 January 2008)

Hi Mate

Well it has been many years since I was working on a drill rig back in the days of CRA (Fieldy!!)

Diamond Drilling is the technique used to get the "Core" view of an anomoly. The core is long cylinders of rock!, it is measured, split and bagged.

RC is like a big blower that blows the dirt into a hurricane and then bagged on site.

Anyway I too am looking long term in EXM, and hope it all turns around someday 

cheers

Pog


----------



## imaginator (16 January 2008)

new report is out now 5pm! 

Can someone transcribe?

Some Tanami electromagnetic survey report?

What does this mean for the sp?


----------



## Aargh! (16 January 2008)

imaginator said:


> new report is out now 5pm!
> 
> Can someone transcribe?
> 
> ...




It just reads they have commenced an airborne electromagnetic survey in the Tanami. This survey will cover the unconformity between the Victoria Burrindudu Basin and the older Tanami Complex rocks below.

Will take a week to complete and results in once the geophysicist has interpreted the results.

I wouldn't expect it to do much to the SP as its just investigating an anomaly.


----------



## Doris (16 January 2008)

Aargh! said:


> It just reads they have commenced an airborne electromagnetic survey in the Tanami. This survey will cover the unconformity between the Victoria Burrindudu Basin and the older Tanami Complex rocks below.
> 
> Will take a week to complete and results in once the geophysicist has interpreted the results.
> 
> I wouldn't expect it to do much to the SP as its just investigating an anomaly.




EXM announcement just out! 

PXR: Airborne Electromagnetic Survey Commencement 
2 pages at: 7:10PM

I can't access this from the asx for unknown reason. Grrr... 
Can anyone say if it's it connected to the earlier ann?  
TIA


----------



## Bushman (16 January 2008)

Doris said:


> EXM announcement just out!
> 
> PXR: Airborne Electromagnetic Survey Commencement
> 2 pages at: 7:10PM
> ...




It is not connected to the earlier announcement. EXM have two separate exploration campaigns underway:
1. Tennant Creek Project - drilling old Juno and Nobles Nob sites to confirm historical drilling database. 
2. Tanami - greenfield drilling campaign over 12,000 km² of prime gold country. 

Today's announcement is related to Tanami; yesterday's announcement was related to Tennant Creek. 

PS: remember that huge historical drill hits were from the Juno prospect. No drilling data has been released from this site to date.


----------



## Doris (16 January 2008)

Bushman said:


> It is not connected to the earlier announcement. EXM have two separate exploration campaigns underway:
> 1. Tennant Creek Project - drilling old Juno and Nobles Nob sites to confirm historical drilling database.
> 2. Tanami - greenfield drilling campaign over 12,000 km² of prime gold country.
> 
> ...




Thanks!  So BOTH anns tonight were on Tanami.  A friend emailed me:

"EXM ann same as before , except to say Palace Resources is carrying out the survey and that they will retain the Uranium rights and that EXM will have the precious metals rights. Also that Palace willcontribute 50% to the cost. Showed a map of survey site."


----------



## yuyry002 (18 January 2008)

Good evening gents

Does anyone know if they are still drilling at Juno or they have finished the drilling and waiting for the results? Did not mention anything in last reports about juno.


----------



## Go Nuke (22 January 2008)

WOW

Like everything on the market what else can you say!!
Down 34+%!!!!!
OMG.
Its going to take some change to get that back to my buy in price of.035c

I guess anyone with money will make a killing once the market returns to normal..but that counts me out


----------



## Go8688 (25 January 2008)

thanks god!! finally back on the 3's..hope it will keep going,. I felt trapped badly... Does anyone has any idea about this share? What is the outlook of it.. Please???


----------



## Birdster (25 January 2008)

Go8688 said:


> thanks god!! finally back on the 3's..hope it will keep going,. I felt trapped badly... Does anyone has any idea about this share? What is the outlook of it.. Please???




I bought in at ~.04 on a spec buy. Things turned sour on trading halt and anns?!  IMO is to hold out till they actully dig the stuff out of the ground. Which is apparently a while off.


----------



## Absolutely (25 January 2008)

Go8688 said:


> thanks god!! finally back on the 3's..hope it will keep going,. I felt trapped badly... Does anyone has any idea about this share? What is the outlook of it.. Please???




Why would you buy a share you know nothing about ?

I dunno, you really are going to be trapped badly in the future if that is how you invest.


----------



## Aargh! (25 January 2008)

Go8688 said:


> thanks god!! finally back on the 3's..hope it will keep going,. I felt trapped badly... Does anyone has any idea about this share? What is the outlook of it.. Please???




Well! You buy shares not knowing anything about them?! I for one wouldn't invest in anything I didn't understand or research myself. I suggest you create a trading plan.

Not intended as financial advice.... Pity common isn't common enough to be common sense....


----------



## Birdster (25 January 2008)

Aargh! said:


> Hi mick,
> 
> I'm not certain how this stock is being manipulated. What evidence should I be looking for to come to this conclusion?
> 
> Thanks




Seems we have something to learn about EXM  As posted before, it is a stock that is high risk high return, as with most mining companies that are in a pre drilling stage. "Absolutley" can get a great deal of info reading the entire EXM thread as all of us can do, as well as ask for readers opinions (as we all do). 

What led you to buy/  invest in EXM to start with Absolutley?


----------



## Absolutely (25 January 2008)

Birdster said:


> Seems we have something to learn about EXM  As posted before, it is a stock that is high risk high return, as with most mining companies that are in a pre drilling stage. "Absolutley" can get a great deal of info reading the entire EXM thread as all of us can do, as well as ask for readers opinions (as we all do).
> 
> What led you to buy/  invest in EXM to start with Absolutley?




Hey Birdster, how's it going man?

I'm not saying I know anything more then you or others here. Became aware of the stock, past drill results and the potential for high grades from current drilling program. As with all of us here it is a spec buy but most of us do some minimum research. That guy Go8688 appears from the questions he has asked to have done no research and is asking us to do it for him. He should be able to get a good idea of what is going on by reading this thread. None of us know what the outlook is. Combine that recent post with his previous one asking "How far do we think it will go?" on the announcement - well both those questions are purely annoying to me - how the FU#K do we know? Clearly the guy is expecting all of us to make him money and he seems unprepared to do any research (even just reading back through the thread) and deserves to be "trapped badly" IMO. Go to HotCopper Go8688, you'll get more favourable responses over there.


----------



## Aargh! (25 January 2008)

Birdster said:


> Seems we have something to learn about EXM  As posted before, it is a stock that is high risk high return, as with most mining companies that are in a pre drilling stage. "Absolutley" can get a great deal of info reading the entire EXM thread as all of us can do, as well as ask for readers opinions (as we all do).
> 
> What led you to buy/  invest in EXM to start with Absolutley?




Birdster, perhaps you should read my previous post you just quoted. My question as you will understand when you read it has nothing to do with my knowledge of EXM as a company but rather querying another ASF poster as to their beliefs/evidence as to how the stock price was being manipulated by other traders.

I did my research on EXM prior to buying and have an exit strategy in place. Of course learning is a lifelong experience and there is still some story left in EXM but your suggestion of me not knowing things about EXM is incorrect.


----------



## Birdster (25 January 2008)

Absolutely said:


> Hey Birdster, how's it going man?
> 
> I'm not saying I know anything more then you or others here. Became aware of the stock, past drill results and the potential for high grades from current drilling program. As with all of us here it is a spec buy but most of us do some minimum research. That guy Go8688 appears from the questions he has asked to have done no research and is asking us to do it for him. He should be able to get a good idea of what is going on by reading this thread. None of us know what the outlook is. Combine that recent post with his previous one asking "How far do we think it will go?" on the announcement - well both those questions are purely annoying to me - how the FU#K do we know? Clearly the guy is expecting all of us to make him money and he seems unprepared to do any research (even just reading back through the thread) and deserves to be "trapped badly" IMO. Go to HotCopper Go8688, you'll get more favourable responses over there.




Too true Absolutley. It's like taking a poll if you think it will rain more or less next month! E'one knows "DYOR" and it IS obvious (if you read this entire thread) that its a spec buy. My limited research went wandering when the drill report brought on neg results. 

So in summary Go8688, it's a mining company with potential, IMO, and has rather accurate info of results in this thread and less results on ASX.


----------



## Bushman (30 January 2008)

Popped back in today. At 2.5c, surely the nervousness over the 'high market cap' will be gone. But who knows in this environment. I would have thought good drill hits, 500k oz, more drill hits to come and POG over $900 per oz would see EXM at least hold its ground but this is a soft, soft market.


----------



## Birdster (30 January 2008)

Aargh! said:


> Birdster, perhaps you should read my previous post you just quoted. My question as you will understand when you read it has nothing to do with my knowledge of EXM as a company but rather querying another ASF poster as to their beliefs/evidence as to how the stock price was being manipulated by other traders.
> 
> I did my research on EXM prior to buying and have an exit strategy in place. Of course learning is a lifelong experience and there is still some story left in EXM but your suggestion of me not knowing things about EXM is incorrect.




It wasn't a personal attack against you Arrgh. I could of picked many a number of posts in this thread that have questions. I'm sorry you took offence.  Asking questions without reading the thread first (Not You Arrgh) and expecting an all in one "research answer" was the point I was making.  

On to EXM, They must be due for another ann soon? Airbourne EMs quick to process I would imagine, compared to soil samples. Maybe a question for the geology thread...will go see


----------



## AussiePaul72 (2 February 2008)

Birdster said:


> On to EXM, They must be due for another ann soon? Airbourne EMs quick to process I would imagine, compared to soil samples. Maybe a question for the geology thread...will go see




Yes we should be expecting the results from the airbourne EM's very soon .... quarterly stated that this should be announced in early Feb ...... so could be sometime this coming week. 
It won't bother me too much if they don't find much there as Tennant Creek results will be the maker or breaker for EXM at this stage. Only very early results from TC so far from a few holes but very encouraging IMO to date. Quarterly didn't give any indication as to when we might receive the next set of results ... anyone care to have a punt? with some reasoning?????
By the way, nice to see EXM with some potential diversity in nickel and uranium projects reported in the quarterly. Nickel anomalies seem to have some potential (early stages though).... did i read that right?
I lowered my buy in price on Friday by picking up some more at 2.4c ..... bringing my average down under 3c now as a precaution.
Good luck to all


----------



## Doris (16 February 2008)

Did anyone notice the announcement yesterday morning about 3 EXM directors exercising millions of options?


----------



## cuttlefish (16 February 2008)

that was part of a recent capital raising - option holders who exercised options before some date in jan (can't remember might have been the 6th) got issued a free 6c option along with the shares they got for converting the options.  This put some more money in the till for exm.  The directors took part in this hence the recent notice.  (pretty sure thats the explanation)


----------



## AussiePaul72 (16 February 2008)

Interesting time for EXM building. Looking at the market depth there is a traffic jam with buyers lined up heavily below 2.4 and sellers also lined up reasonably heavily above 2.4, hence the little movement in SP lately. Who will win the battle?????
Surely some more news can't be to far away ..... some drilling results from a few more holes wouldn't go astray!! I'm holding a reasonable amount (in my terms anyway!) of this one and my thinking changes from day to day ...... with every man and his dog on EXM sometimes i just want to look at getting out but then i think of the huge potential that these guys have in the region they are exploring and the excellent potential upside!


----------



## Go Nuke (16 February 2008)

I agree Paul.

This is what I see on my chart.

The MACD is rising along with the RSI slowly making higher highs. *RSI not shown here*
The MACD histogram (the white bars) are now above the zero line which, looking back through the chart you will see is  generaly followed by an upwards movement in the sp.

But it will have the resistance of its 200 day MA to push through.

I think all it will need is some good news to re ignite the share price. Of course gold is still up around $900/oz but people always want to see it go higher to give gold stocks a little boost

These are just my thoughts but I too am really hanging for some news


----------



## AnDy62 (19 February 2008)

Just announced an 'Exploration Update", sent the price moving up a little bit.
I couldn't see tooo much of note, but hopefully when drilling results come back, particularly Tanami, the sp will get a wriggle on


----------



## AussiePaul72 (19 February 2008)

I think resource companies are just as frustrated as shareholders with the time it is taking to get results through from the lab. As mentioned in todays announcement, companies can't plan their future activities until they get results back and in some cases is starting to impact on this.
One thing highlighted in today's exploration update from EXM ........ there is plenty of news coming from drill results at Tenant Creek and also the Tanami airbourne electromagnetic survey. The update mentioned that they had received significant approaches from other companies already wanting to farm-in on the Tanami project. What do we know about this project that makes it very attractive even at this early stage? If i remember correctly EXM has rights to all precious metal discoveries and Palace Resources has rights to uranium discoveries. I'm guessing the results of this survey will be the next news that we get!
Waiting for results is certainly a good exercise in patience!! Good luck to all fellow holders


----------



## moneymajix (21 February 2008)

MD addressing shareholders frustrations on Boardroom Radio ...

*EXM - Exploration Update *
Mr Alex Bajada, MD 
Wed, 20 Feb 2008
05:30PM 


http://www.brr.com.au/asx/EXM


Some points -

Company has been continuously working through its program at Tennant Creek for 4-5mths.

There are more results to come.

Frustration on part of shareholders and directors in terms of getting 
up-to-date of the anlysis from labs. 
Not different to other cos. in this situation in having to wait a long time to get results back.

Not helpful or meaningful to release drilling results as of single holes. Proposes to put out something that is composite and relating to an area where there are a number of holes. 


HANG ON...


----------



## Bushman (21 February 2008)

I'm hanging on Money man. The drill results will be released at some stage soon and if they live up to the 3 holes released earlier this year, watch out. I am really looking forward to them drilling Juno - that is where the bonanza grades were recorded historically. 

The patient will be rewarded with this one. Unfortunately there are many who trade these due to the liquidity and hence the selling pressure when news is delayed. 

Every Aussie miner who rely on third party labs are experiencing delays. It is not EXM specific. Why some do not see that, I will never know.


----------



## JTLP (10 March 2008)

Can they release all the damn results already.

I am feeling the pinch with this one. I'm down a little on my others (ranging from 2 - 10%) but this one has just been a big kick in the teeth. I am seriously struggling to see how it will reach former highs, unless they sign a JV partner / release some bonanza grades, and hopefully soon.


----------



## Go Nuke (10 March 2008)

OMG...C'mon!

I wish they would hurry up with some results.
The sp is really taking a beating here!

Support at .017


----------



## AussiePaul72 (10 March 2008)

I know Nuke .... totally agree .... i think we're all keenly awaiting release of news ..... its taking forever!! I don't blame the company at all though .... its happening across the board with samples slow to get through the laboratory bottleneck due to the volume of samples being submitted during the mining boom! It certainly is a game of patience and its a shame a lot of investors in EXM are selling out before drilling results are released and driving the SP down.
I still think EXM's tenements and historical data that we have show a lot of promise and even though i'm running at a loss on this one at present i'm hanging on as there are many results to come!
Here's to seeing through the quiet and doubting times and looking forward to the (hopefully) better times ahead ...... 



Go Nuke said:


> OMG...C'mon!
> 
> I wish they would hurry up with some results.
> The sp is really taking a beating here!
> ...


----------



## AnDy62 (14 March 2008)

Some relief today, up 10% at the mo on a decent volume. Good times . May those results hurry up... I'm a bit hesitant to top up on this share because it is pretty risk-ay so ill just hold on and hope for the best


----------



## Go Nuke (1 April 2008)

Doesn't look good for EXM holders (like myself) today

SP closed below its support of .017c with heaps of sellers lined up.

I cant believe its taking so long to get some sort of announcement out!

And to add insult to injury the price of gold is dropping off.

Great..just great


----------



## AnDy62 (1 April 2008)

Go Nuke said:


> Doesn't look good for EXM holders (like myself) today
> 
> SP closed below its support of .017c with heaps of sellers lined up.
> 
> ...




I know, it is *really* frustrating. But if your fundamental reason for holding hasn't changed then hold on - a share like EXM can bounce up just as quickly with some good news. And EXM never really seemed to change with the POG much from my observation. It is a lazy share unless there is big news
in the wind. I feel your pain though with this one...


----------



## Drubula (1 April 2008)

I placed my shares for EXM in the bottom draw and maybe look at them again in 6 months. I just dont understand why little info has been forthcoming or have we all been misreading all earlier announcements on potential jorcs?????

Still hoping


Drubs


----------



## alankew (1 April 2008)

EXM and PXR have used the same contractor for their aero surveys.Unfortunately the company they used are using a French helicopter which had problems and parts had tro come from France,add in the wet season and according to one director at PXR thats the reason for the delay.Am not on this but am on PXR and I share your frustration


----------



## AnDy62 (7 April 2008)

Hmmm... jumped up today on strong volume... something in the air? Chart looks good, rebound of dragon-fly doji,  increasing volume. Let's hope for some good luck finally...


----------



## AussiePaul72 (7 April 2008)

AnDy62 said:


> Hmmm... jumped up today on strong volume... something in the air? Chart looks good, rebound of dragon-fly doji,  increasing volume. Let's hope for some good luck finally...




Yes something seems to be happening! Wonder if it's based on rumour or fact??? Would appear that it was a good decision that i bought more the other day at 1.7c. 

Anyway, i must say that the buy:sell ratio is certainly starting to balance out and at one point today total buyers outnumbered sellers. Certainly a good sign! 

Well in my opinion patience is the key and hopefully to those that wait good things will come


----------



## AnDy62 (9 April 2008)

Wow, a great buy Paul! Up over 35% today with still no news. This is nice... *might* be something reallllly good in the works.


----------



## JTLP (9 April 2008)

Whenever I see specs like this run (bear in mind i hold this) I always just think DT's.

It was like watching IIG then RSL...then GDA...

It seems the each little spec gets love for a few days then on to the next...hopefully im wrong


----------



## AussiePaul72 (9 April 2008)

JTLP said:


> Whenever I see specs like this run (bear in mind i hold this) I always just think DT's.
> 
> It was like watching IIG then RSL...then GDA...
> 
> It seems the each little spec gets love for a few days then on to the next...hopefully im wrong




You could be right JTLP! It could be DT's riding EXM. We have seen a couple of runs in the SP lately only to settle back again. Today's run was the most aggressive movement we have seen in EXM in quite a while.

Keep in mind that we have been awaiting drill results for quite a while now aswell. Maybe some news has leaked regarding drill results or maybe its just the meer fact that results are on their way maybe creating interest prior to an announcement. After no news today and a 35% increase in SP i'm expecting EXM to get a speeding ticket!!!

Disclaimer: I hold EXM


----------



## Aargh! (10 April 2008)

Announcement this morning re drilling results at Tennant Creek. Looks to be promising results at Rising Sun with grades of gold near 100 g/t. More results to trickle in.


----------



## Go Nuke (10 April 2008)

Gee dont you just love how the share price jumps 35% the day before drill results are released to the likes of you and I...

Even though I hold (currently a loss...of course) i would have liked to see EXM get a please explain.

It was just so blatant!

But other than that.....great first lot of result and hopefully more to come..lol


----------



## marklar (10 April 2008)

Go Nuke said:


> Gee dont you just love how the share price jumps 35% the day before drill results are released to the likes of you and I...
> 
> Even though I hold (currently a loss...of course) i would have liked to see EXM get a please explain.



Yeah, well, complain to ASIC.  I'm just happy to see the share price picking up again, like you I'm still holding at a loss.

m.


----------



## Rocket man (10 April 2008)

marklar said:


> Yeah, well, complain to ASIC.  I'm just happy to see the share price picking up again, like you I'm still holding at a loss.
> 
> m.




yeah its blatant ... what do these people at ASIC do all day. I need to remember for next time ... when volume and price spikes get in quick


----------



## Drubula (10 April 2008)

Yeh I noticed that too, but for me the price needs to go beyond .035cents for any recovery. Hopefully the interest remains in this stock well after DT's move on.

Goodluck to all EXM holders

Drubs


----------



## JTLP (10 April 2008)

Ann sounds quite promising...

Especially the presentation 

Who could be the big player to provide support?


----------



## Drubula (19 April 2008)

So much is written about EXM yet little movement upwards in SP. Still holding at .035 buy but may well move on if SP does not move over coming months. Will hold till June.


----------



## Aargh! (19 April 2008)

Drubula said:


> So much is written about EXM yet little movement upwards in SP. Still holding at .035 buy but may well move on if SP does not move over coming months. Will hold till June.




Hi Drubula,

You say so much is written about EXM could you please point us towards that literature? 

I haven't been able to find much literature re EXM.

Cheers


----------



## moneymajix (22 April 2008)

*Re: EXM - Broker Presentation*

I am a long-term holder and continue to hold a positive outlook re the future share price.



*Announcements*


22 Apr 2008 18:06  

*Updated Investor and Broker Presentation April 2008*
38 pages

_
Projects_

Tennant Creek (Au, Cu, Bi)

Potential for early production


Tanami/Marla Project (Au)

Surrounded by majors


Yilgarn Project (U)

Drilling by end 2008


----------



## Drubula (24 April 2008)

Dissapointed that EXM's sp has not moved in value. Maybe the market has already factored in the recent announcement in the current sp. 

A further update soon will encourage further interest in this stock. Which way depends on further positive news.

Hard to read whether the stock is capped or the present value is its true value. My hold is at .035 hebnce I still have a fair way to go.

Cheers


----------



## AnDy62 (29 April 2008)

Up 0.4 c to 2.7 c today on nearly 50m volume.

Another ann tomorrow? Interesting how in the past EXM's reaction to any announcement comes in the couple of days prior. 

In any case, it has been a nice run from 1.6c a few weeks ago, I'm still waiting for 3.5c before I can say I'm out of the red though - but I'm confident in this company and happy to hold for a while.


----------



## Kremmen (29 April 2008)

Nice, big rise so far today and buyers outnumbering sellers. Does anyone know whether this is just normal market movement, or is it insiders trading on some upcoming ann?


----------



## pauldoohan1 (29 April 2008)

Seems to be a typical run up to an Annon for EXM, this has been happening the last few times.  Hmmmmmmmmm


----------



## wombo (30 April 2008)

Well as per usual the announcements have come just after a heap of activity.

3Mill invested by a Hong Kong company, that should increase the investor confidence.

Also its at 3c per share.


----------



## moneymajix (1 May 2008)

http://www.brr.com.au/asx/EXM



EXM - Successful $3M Share Placement 

Mr Alex Bajada, Managing Director   
Thursday, 1 May 2008
12:15PM 


Have a listen!


:star:

.


----------



## Aargh! (5 May 2008)

Drilling Announcement just out. Very encouraging intersections near surface at Rising Sun. More RC and diamond drilling to follow up intersections.


----------



## wombo (13 May 2008)

The price is starting to drop a bit in the last couple of days. it has hit .027 today.

Hopfully some more results come out to keep it on its upwards climb.


----------



## rob (21 May 2008)

waiting for some good news and pretty new to the stockmarket  do you think now would be a good time to grab a few shares in EXM. so glad i found this thread.


----------



## AnDy62 (21 May 2008)

No one can give you financial advise. I hold EXM. Ask yourself a few questions;

Do you like Gold's prospects?, what is your risk tolerance etc etc

Personally, I think that EXM has an impressive resource base and I hold for that reason, and the company has said there will be a steady stream of results coming out. Cheers, DYOR.


----------



## rob (7 June 2008)

Seems to be very quite in here lately so thought id maybe try and add somthing of interest Excalibur rediscovers the gold-rich Tennant Creek area 

Blair Price
Thursday, 5 June 2008

PERTH-BASED explorer Excalibur Mining has not only rediscovered high-grade gold in the historically rich Tennant Creek area of the Northern Territory, but has also located promising fresh deposits missed by previous miners at Rising Sun.



Excalibur Mining's Tenant Creek project 


Night shift diamond drilling at Nobles Nob West 


With the discovery of gold at Tennant Creek and its surrounding areas dating back to the 1930s, Excalibur’s Nobles Nob and Juno tenements were extensively mined until the end of the 1970s and produced more than 2 million ounces of gold.

However, it is Excalibur’s Rising Sun tenement – some 3km east of the well-known Nobles Nob openpit – which is at the forefront of the junior’s plans to be part of Tennant Creek’s return to its former gold production glory. 

Rising Sun was mined from 1936-39, with underground operations producing around 10,000oz of gold until the reserves were first thought to be depleted. 

Last month’s drilling results from Excalibur have suggested otherwise, with highlights including an 11m intersection yielding 30.4 grams per tonne gold from a depth of 39m from the surface – including 3m at 97.47gpt gold – while a second hole had an intersection of 24m at 24.62gpt gold 48m from the surface, including 2m at 119.50gpt gold.

What makes Excalibur’s discoveries all the more interesting is that the company has been working off old geophysical and electro-magnetic data collected for previous miners.

While previous mining did not find all the gold in the area, it did establish considerable infrastructure at the Tennant Creek project. 

Most importantly, Excalibur's tenements are located near the Alice Springs-Darwin rail line, about 8km from the Tennant Creek township. 

Previous infrastructure upgrades included a power grid laid down by past operators. Sealed access roads remain and four-wheel drive vehicles are not required. 

The company’s Tennant Creek project covers two main tenement areas with a group at Juno and the rest at Nobles Nob. 

The total current JORC-compliant indicated and inferred resource of the project’s tenements amounts to 2.3 million tonnes at 7.12gpt gold for 532,244oz gold.

Excalibur head geologist Matthew Sullivan is in the 23rd year of his exploration career and in similar small size exploration teams he has helped discover 6Moz gold at Kanowna Belle and about 3Moz at East Kundana.

Sullivan said “Tennant Creek is one of the more interesting parts of Australia where geophysics works very well”. 

Tennant creek is unlike many other parts of Australia where ground water is salty and conductive to electricity. This tends to cloud the geophysical results. 

With an absence of other troublesome conductors in the ground such as graphitic shales, conductivity diagrams from Excalibur’s tenements, like Juno, can clearly show ore bodies and targets through their electrical responses. 

The types of mineralisation found in the area tend to be part of clustered hydrothermally-created ironstone pods, often with copper at the higher levels, followed by bismuth and lastly gold. 

Sullivan said Rising Sun was originally a minor focus that was only expected to host two pods. Recent drilling has lifted his estimates to at least four or possibly five pods 

“We had a view it had been pretty well unloved,” he said. 

“We just did some basic work and, hey presto, we have probably discovered a [potential] openpit which no one had really looked at before.”

Excalibur managing director and former Perth stockbroker Alex Bajada ranked Rising Sun as the company’s top prospect from a strong return and low-risk perspective. 

“It’s too early to talk about resources as we only have 60 percent of the assays at hand, but we’re highly confident of a new JORC resource at Rising Sun,” he said. 

“We’re also confident about the Nobles Nob West area where we also have shallow, high-grade results – and for a company of Excalibur’s size that is exciting stuff”. 

“Initial analysis indicates high-grade ore with potential for high tonnage within close proximity to the surface. It doesn’t get any better than that anywhere in the world and yet here we are in an area with existing infrastructure that can support the ore’s extraction.”

Aside from Rising Sun, the other tenement of focus is Nobles Nob West, which is just over 1km from the historical Nobles Nob openpit.

Highlights from recent drilling included an intersection of 8m at 28.3gpt gold at 63m from the surface, including 3m at 67.4gpt gold, and 3m at 9.91gpt gold from 161m, including 1m at 25.70gpt gold. 

Drillholes at Nobles Nob West also returned strong copper grades of over 1%, including 1m at 2.46% copper.

Juno is Bajada’s third-ranked target. The mine was run by Peko from 1967-1977 yielding some 840,000oz with an average grade of 57gpt. 

The area has a JORC-compliant indicated resource of 321,400oz from 952,000t at 10.5gpt.

Beneath Juno lies the historically defined M10 deposit, which has a JORC-compliant inferred resource of 1.2 million tonnes at 5gpt for 193,000oz. 

Sullivan believes M10 could potentially host another significant resource, possibly of Juno’s size, but more holes have to be drilled to substantiate this hypothesis. 

Despite considerable delays in receiving assay results, Sullivan said the contracted laboratory has increased its capacity and Excalibur is hopeful of a resource upgrade in the September quarter. 

The forward plan is to drill around 100 additional holes using two diamond rigs up until Christmas. 

While Excalibur shares have fluctuated considerably and remained under 4c for this year, Bajada said Excalibur was working on adding more stability to the register by bringing in Hong Kong investors and negotiating with fund managers. 

He said his company presents a good opportunity for investment in an area with a proven history of very high-grade gold. 

“We have extensive infrastructure around our leases. We own 100 percent of our leases. We have completed 60 percent of our drilling program but we only have about 20 percent of our results. 

“Most of the results we have to date have been sensational. You are talking a market cap, at these prices, of around 40 millin dollars which is very cheap for a company that already has a 500,000-ounce JORC.”



Only new at this hope i did ok


----------



## Yeti (10 June 2008)

Excellent article, thanks for posting Rob. As far as I am concerned you _have_ done well 

Been waiting for EXM to release some more results, due any day now I think (hope).


----------



## Go Nuke (25 June 2008)

Gee EXM has been very quiet for some time.

Anyone know if we can expect some kind of news soon?

Drilling etc?


----------



## franga28 (26 June 2008)

Announcement just out with fantastic gold grades with further drilling results expected soon.


----------



## rob (26 June 2008)

Go Nuke said:


> Gee EXM has been very quiet for some time.
> 
> Anyone know if we can expect some kind of news soon?
> 
> Drilling etc?




Heres sopme info: exm jumped up 22% this afternoon now back to 13 still nice to see some movement, ann, rising sun near surface drilling high grade results. 

four new zones discovered to date. 22m@21.21g/t ua from 49m,including1m @ 94.90g/t au from 51m and 1m @102g/t au from 60m

3m @27.65g/t au from 113.

tried to copy and past but it would'nt do it so hope this helps


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## Go Nuke (26 June 2008)

rob said:


> Heres sopme info: exm jumped up 22% this afternoon now back to 13 still nice to see some movement, ann, rising sun near surface drilling high grade results.
> 
> four new zones discovered to date. 22m@21.21g/t ua from 49m,including1m @ 94.90g/t au from 51m and 1m @102g/t au from 60m
> 
> ...




He3y Rob.

Thanks mate. i saw the announcement when i got home from work. had to laugh. Thought perhaps one of the directors read my previous post lol:

Yes more awesome results. Well i think they are.
I'm assuming its the amount of shares on issue that has the sp so low? is that correct?
*Mrkt cap of $35Mil*
 I think there is something like 1.37Billion shares on issue? + xx amount of options.

Anyway, hopefully this can bring the sp up with my results to come


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## moneymajix (30 June 2008)

*Ann. today

30 Jun 08  Appointment of Director  *



*Dean Felton*

Dean is a co-founder and Director of Oyster Consulting. Prior to this, Dean was managing the Business Analysis function, an in house advisory team, for Rio Tinto Iron Ore. Previous to this role Dean worked in a number of finance and accounting roles for over 10 years in Australia, Canada and the UK. The organisations include the Australian National Audit Office, Chartered Accountancy practice, Australian National University, and various mining houses.

Dean received an MBA from Murdoch University, graduating with Distinctions. Dean studied Business at the University of New England, specialising in Accounting.

Dean has extensive accounting and finance experience in a number of industries including mining, tourism, stockbroking, the public sector, and private practice. This work has covered internally focussed areas such as financial statement preparation and review, evaluating all capital projects and implementing cost analysis and monitoring systems. At Rio Tinto, Dean worked in externally focused areas covering work in mergers and acquisitions, being a key member on BHP merger discussions and the US$2bn North Ltd acquisition by Rio Tinto. Dean worked to create and maintain a revised Business Analysis function which undertook projects including, the development of a rail asset JV, the implementation and monitoring of a ‘recovery plan’ for an overseas subsidiary, and the development of a power asset strategy.

With Dean’s grounded and holistic business acumen he has worked on a wide variety of projects at Oyster Consulting. Dean has led multi-disciplinary teams with Argyle Diamonds, Ticor SA and Ok Tedi focused on a margin improvement program across all aspects of the businesses, these projects each have delivered annual EBIT improvements of tens of millions of dollars. Recently he has worked with emerging mining companies to provide strategic guidance for the earliest stages of company development and has also managed the due diligence and financial analysis for a multi-national business exploring investment opportunities in Australian resource companies. Dean has developed a unique approach with clients to create an integrated suite of planning, balanced scorecard and management reporting tools and techniques. Additionally, Dean co-ordinates Oysters pro-bono efforts for organisations such as the Cerebral Palsy Association of Western Australia and the Western Australian Community Foundation.

His main areas of interest and capability are focused on strategic thinking, developing effective teams, and performance management. Dean is passionate about horse racing and often enjoys a game of golf.


http://www.oysterconsulting.com.au/aboutus_teamdf.html


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## Go Nuke (2 July 2008)

Can anyone shed some light on why the sp is doing so badly?

I mean, they are getting some great Au hits with the drilling and gold about $925/oz...what am i missing??

Why would people think its worth less now than what it was 6 months ago?


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## moneymajix (2 July 2008)

One or more of the following:


a. Out of favour 

b. Market down generally

c. Manipulation

d. The planets have not yet aligned.

e. Don't care. Holding for the long-term.


----------



## Doris (14 July 2008)

New announcement out about ten minutes ago on Tanami results.

Tennant Creek drill results to come shortly.


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## Go Nuke (14 July 2008)

Yep. A very technical ann at that.

Still VERY few buyers!
I would have thought the sp would be higher actually considering they are in the right game in these unstable times (gold) 

More results to come soon, so i hope they provoke a better market reaction.


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## JTLP (15 July 2008)

Meh...that ann was never going to set the world on fire.

VERY overdue and not all that exciting. Just states targets...doesn't drop lines like "potential 4.2 trillion tonnes of 99% Manganese "...now that would get EXM flying!

They really need to start pumping out assay results and bringing to fruition these farm-in talks.

An initial JORC would be nice (might take til the end of the gold bull with these guys .

Still a lot of results pending...let's see what the next few months hold


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## Yeti (16 July 2008)

Go Nuke said:


> I would have thought the sp would be higher actually considering they are in the right game in these unstable times (gold)




Go Nuke, I don't think they are in the right game yet, they are _exploring_. Once they start _producing_ they will be in the right game, providing of course that conditions haven't changed by then.


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## Sean K (16 July 2008)

Most gold explorers on my watch are 50 - 80 % off recent highs, and around 3 - 5 year lows. There's a rare exception. EXM is in the boat with the rest unfortunately. They are all up that creek .....


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## Go Nuke (2 September 2008)

WOW
WTF happened with this stock this afternoon????

From about 3pm it went off!
Up 30+% and Ive no idea why?

Could this be genuine? Or will we see a major retracement tomorrow?

More questions than answers


----------



## LittleFish (2 September 2008)

We are expecting a Jorc upgrade that has been long awaited. On 14th August Alex Bajada suggested we would have an upgrade in the next couple of weeks. 

The high grades that they have been getting at shallow depths from their 17000m of drilling that they've done in the last 10 months or so have raised expectations of a substantial increase to their 553,000 JORC ounces that they already have. 

They have had very slow return of results from the labs and still have a substantial number of assays outstanding. As such this will be a preliminary JORC upgrade with much more to come.

A very exciting story indeed.   

Littlefish


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## Yeti (2 September 2008)

Whatever is happening here, it seems somewhat suspicious. Something must have leaked out. Next thing to happen should be a "please explain" from the ASX.


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## AnDy62 (2 September 2008)

Haha a little suspicious 

It happens everytime with EXM, the stock always jumps before the anns are released to the mkt, it's as plain as day yet don't expect to see any sort of query, it's the way it works 

Anyway, let's hope this JORC can give EXM a kick along as the price was really smashed lately..


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## moneymajix (5 September 2008)

Announcement this morning. 
Share price is up.  In another market....!






*INTERIM RESOURCE
Upgrade at Tennant Creek *

Resource now totals 1,177,711 oz.

Suggestion of greater than 95% gold recovery at Rising Sun and Nobles Nob West


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## Go Nuke (5 September 2008)

Yep I think its fantastic news.

Open at depth and direction too!

What a shame gold has come off its highs and that EXM's share price isn't higher


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## Go Nuke (15 September 2008)

Are we all still hurting badly with this stock??
I know I am

And all the announcements look so good too!
I wish the company would do a share buy back or someting


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## rob (18 September 2008)

Go Nuke said:


> Are we all still hurting badly with this stock??
> I know I am
> 
> And all the announcements look so good too!
> I wish the company would do a share buy back or someting




hi again nuke hav'nt been on here for a while, what a great night for gold in usa gold up 11% and after that great jorc of 1.1million ounces in ground we could finally get some decent up movement good luck to all for holding lets hope gold gets back to $1000 and exm can get fast tracked into production, who knows?


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## Go Nuke (23 September 2008)

I'm a bit suprised with this stock

Gold is back at $900 but we are still looking at .01c!

Undervalued? EXM looks to have alot of good grades just waiting to be developed into a mine!


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## Go Nuke (30 December 2008)

Hey hey...golds on its way up and that mean EXM goes up too!!:>
Nice to see.
Though Im sure its so quiet here becasue a few of us (myself included) are still holding some losses.

Though looking at the recent history of the gold price, you could assume that EXM has more to run yet.


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## Absolutely (30 December 2008)

I can't think that it's the gold price that has driven this up today. These guys are explorers, a long way from production, with many hurdles to overcome. Who knows what the gold price will be when they finally pull some of the stuff out of the ground. You would have to think this rise had something to do with possibly a cash injection being secured or something like that. Then again, it will probably go back .05c tomorrow.


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## jeremy b (5 January 2009)

Might have something to do with scoping study results due out.There is also talk of J.V With gold producer.Hoping it forms a base here as i brought in at 1.6.


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## moneymajix (21 January 2009)

Interest here today with some decent buying, up 30%.

1.3c.

Gold up and many expect it to keep heading that way.


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## JTLP (1 February 2009)

Anyone catch a glimpse at EXM's quarterly? Well worth the read...the whole 4 pages of it LOL

Everything seems pretty stagnant on EXM's front. Really need to find a suitable JV for tennant creek and get the ball rolling on. Gold is up and they have a decent resource...let's hope Oyster Consultings pre feas is worth the read and everything can go ahead as planned.

Still a bit of money in the bank but would prefer something concrete with a JV as a tension easer...

Bit of trading between the 1.1 - 1.7 range...accumulation?


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## Go Nuke (2 February 2009)

Yeah JTLP, they certainly have some good there...just got to get into production.
I was suprised to see EXM sluggish of the mark today, it finally had a rally but got pushed down again. probably becasue gold futures were down?

Alot of upside to EXM in the future.


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## Go Nuke (6 March 2009)

Is EXM doing so poorly compared to other gold mobs becasue they aren't actually mining yet??

I'm suprised to see so much on the sell side with gold prices where they are.


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## JTLP (6 March 2009)

I agree Go Nuke...I think I picked the worst performing producer (AVO) and worst performing explorer (EXM) of the bunch!

EXM really needs to start pumping out some ann's about resource upgrades and new assay results...they have the cash...the MD doing roadshows etc...certainly some interest can be garnered for this kid?

This is one leaky boat and last time it ran to 1.7 I was expecting something...maybe this time if it moves an actual ann will be made? I think we are expecting a Pre-Feas no?


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## moneymajix (29 May 2009)

*Re: EXM - AN EXCALIBUR DAY!*

Anns. out

29 May 2009 14:12  Tennant Creek Project  16   
29 May 2009 14:11  Board Restructure and Broker Roadshow  2   


Good news.

New board and roadshow. 

Moves to becoming a producer in 2010.

It's GOLD!



It has been a long wait!

1.4c, up over 27%.



Aways, to go.


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## Aargh! (3 June 2009)

Finally some news out of the EXM camp. They have set a tight schedule for the next quarter with drilling of shallower pits, tails and dump testing, and verification drilling at Juno (verification?). Will be interesting if they can keep this schedule. 

Another point being the mining of the shallow oxides will go to funding the 300m or so strip to the Juno ore.


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## Georgeb (26 August 2009)

This has the potential to increase in price dramatically as long as they can confirm the gold and copper resource.


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## sagitar (13 September 2009)

Hellooo...heeelloooo...heeelloooo (...echo....), anyone on this thread?  

EXM is about to come alive - close to completing their latest set of drilling at Tenant Creek which could lead to a substantial re-rating of the stock.  

Interest will likely be building this week as early birds grab their seats.  Watch out because we may have a monster on our hands...LOL.

Don't tell me I didn't warn ya.  Good luck all.


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## Annwn (13 September 2009)

Hi Sagitar
Latest  I could find on EXM is a drilling update from 25/8

Looks like there have been delays

Chart looks OK, with Higher Highs and Lows, 
Vol has increased
Resistance around the .30- 35 level 

Cheers


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## sagitar (13 September 2009)

Hello Annwn,
Yes that's correct, EXM did initially experience delays during this program although those were contractor related  issues which were subsequently sorted out. Infill drilling completion was scheduled for 4 weeks, which ends this coming week. Currently they have a resource of around 1.2M oz of gold jorc (plus heaps of Cu) in shallow low cost accessible pits. Given the high historical gold prospects of the area chances are high they will upgrade their current resource. At 1.4c, this company is very undervalued...but possibly not for long.  cheers. S

p.s. nice chart by the way.


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## Aargh! (13 September 2009)

sagitar said:


> Hellooo...heeelloooo...heeelloooo (...echo....), anyone on this thread?
> 
> EXM is about to come alive - close to completing their latest set of drilling at Tenant Creek which could lead to a substantial re-rating of the stock.
> 
> ...




What a poor quality effort at a ramping post. This isn't HC so you are required to back up your "Monster" claims with some form of analysis.


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## jancha (13 September 2009)

sagitar said:


> Hellooo...heeelloooo...heeelloooo (...echo....), anyone on this thread?
> 
> EXM is about to come alive - close to completing their latest set of drilling at Tenant Creek which could lead to a substantial re-rating of the stock.
> 
> ...




LOL is about right. They would have to find a s**t load of gold with the amount of shares in this company. Good luck anyway


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## sagitar (14 September 2009)

"...may have a monster on our hands...LOL"

C'mon guys/gals, lighten up...only trying to wake up this dead thread with a bit of sarcastic humour.  Oh well, lets see how things unfold.


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## Pallen (15 September 2009)

Diluted to buggery.

No doubt will rise on any announcement, but I just dont trust the management in charge.

Traders stock until they do something, anything.


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## sagitar (18 September 2009)

Well guys, as I had implied earlier, this is only the beginning.  The share price has appreciated considerably over the current week - a gain of 21% for the week!! This climb is coinciding with the price of gold (not that there may be a direct association yet) but more importantly with attention turning to what they further uncover in the current drilling round at TC, which is also scheduled to conclude around about now. Next week there'll be more action to come imo...until then, hasta pronto amigos.


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## adobee (16 October 2009)

Its been a whilse since I have looked at these bad boys but with my focus now on the NT i will be re evaluating my exm holdings.. Most gold stocks have really picked up of late but EXM is yet to see much gain even with proven resource.. will look take a position this morning..  BOOM !


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## NT Trader (16 October 2009)

I bought into EXM @ 1.1c not long after buying into WGR.  Made a nice profit from WGR who are a stones throw from EXM.  I like that EXM have interests in past mines in Peko and Nobles Nob, a transition to producer cost wise would be low.  However, I feel they have far too many shares to be of any huge value.  In saying that, at such a low price, doubling up or even quadrupuling my initial investment (1.1c) is a very real prospect.  That's why I love small priced shares for short term profit.  A new board would be nice though and all my votes on the current team are against.


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## nathanblack (17 October 2009)

ive held for about a month now. im not concerned about the shares on issue, i think market cap is more relevent and this one has plenty of room to move.


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## adobee (19 October 2009)

Testing 1.8c resistance.... lets hope there are some strong buyers to push this through .. 1.9c + & I dont know where this would go ...


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## moneymajix (17 November 2009)

*Spectacular Juno Diamond Drilling Results Delivers New High Grade 
Gold Mineralised Zone*

http://www.excaliburmining.com.au/IRM/Company/ShowPage.aspx?CPID=1354&EID=51041787&PageName=Juno Diamond Drilling Update 16 November 2009


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## JTLP (11 March 2010)

Ouch!

EXM announced that there will be a substantial downgrade in their historical Juno inferred oz's. This sent the shares spiralling down! Ooooppps...minor slipup on managements behalf...or was it? Perhaps they were conducting some due diligience and decided to come clean? Maybe they didnt want to dig deep and realise they didnt have what they though they did?

Who knows...market really didn't like it.


----------



## Sean K (11 March 2010)

JTLP said:


> Ouch!
> 
> EXM announced that there will be a substantial downgrade in their historical Juno inferred oz's. This sent the shares spiralling down! Ooooppps...minor slipup on managements behalf...or was it? Perhaps they were conducting some due diligience and decided to come clean? Maybe they didnt want to dig deep and realise they didnt have what they though they did?
> 
> Who knows...market really didn't like it.



One of the reasons I take managements word on things at face value and like to see price action confirm any real value in a stock.

CTO a classic example. 

Promises, JORC's, timetables, plans, free options for nothing, and then just plain BS.


----------



## JTLP (11 March 2010)

kennas said:


> One of the reasons I take managements word on things at face value and like to see price action confirm any real value in a stock.
> 
> CTO a classic example.
> 
> Promises, JORC's, timetables, plans, free options for nothing, and then just plain BS.




Believe it or not I actually like the new management. This is a very average result and will definitely see the SP languish but I can appreciate the honesty in a sense. The director selling does paint a bit of an interesting picture though.

It does raise issues now about trustworthiness and financing the project. Also all other costs must now be out the window with this revised ounces. I think cash cost were around 300 per oz...that seems too low for a start up company.

Where do they sit on that trendy excel spreadsheet of yours Kennas...maybe minus 2 - 300 thousand ounces?

Ouch again!


----------



## Sean K (11 March 2010)

JTLP said:


> Where do they sit on that trendy excel spreadsheet of yours Kennas...maybe minus 2 - 300 thousand ounces?
> 
> Ouch again!



I looked through the ann but didn't see an actual number of ounces anywhere. 

Didn't it just say a 'substantial reduction' or something?


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## JTLP (11 March 2010)

kennas said:


> I looked through the ann but didn't see an actual number of ounces anywhere.
> 
> Didn't it just say a 'substantial reduction' or something?




Yes. It did say substantial reduction but didn't quote any specifics. The exact figure is supposed to filter through in the next couple of weeks.

I was just being generalistic in my reduction. Perhaps a 33% reduction is big enough to be substantial? Pretty ambiguous term.

And the cast costs...mmm


----------



## moneymajix (12 March 2010)

*Drilling Update - New Drilling at Juno Continues*

Highlighted intersections include:
• EJRD053B 11m @ 14.66 g/t from 284m down the hole
• EJD065 7m @ 17.75 g/t from 275m down the hole and
6m @ 14.34 g/t from 295m down the hole

Excalibur Mining Corporation Limited (ASX: EXM) advises that the company has received results for
recent drill holes that were part of the stope validation work currently being undertaken at
Excalibur’s Juno Project at Tennant Creek, NT.
The complete list of drill results is attached below.

Excalibur’s current Juno drilling program at Tennant Creek has 3 objectives:
• to define the extent and magnitude of the recent Up-Dip discovery at Juno;
• to identify and test inferred areas and extensions around Juno not yet included in the
project's current resource assessment; and,
• to validate current stope positions.




http://asx.com.au/asxpdf/20100312/pdf/31p6svxjg12s25.pdf


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## JTLP (18 April 2010)

This one is getting ugly now. Really need that CUBE consulting update about how bad the resource downgrade is. Management really need to pull the finger out. Faith is probably at an all time low with this mob.


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## lemontree (17 June 2010)

I think 2 days ago someone sold off 40million shares at .4c leading to many others to start selling in frenzy. Just today, possibly the same person bought back 40million at .4c. Could it be that was an attempt to cause some selling so he/she could buy at a lower price?


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## JTLP (17 June 2010)

lemontree said:


> I think 2 days ago someone sold off 40million shares at .4c leading to many others to start selling in frenzy. Just today, possibly the same person bought back 40million at .4c. Could it be that was an attempt to cause some selling so he/she could buy at a lower price?




Don't know lemontree...too hard to tell this stuff. 

What I can tell you and everybody else is that 1 million ounces of that solid gold love DISAPPEARED when they did a remodelling of the JORC. Interesting times indeed if you are a holder. How can that happen you ask? Are management responsible? Who knows...all I know is that the JORC went from circa 1.2M oz to 200,000 oz. Bye bye the possibility of mining at Tennant Creek.

P.S When they said significant who'da thunk it that it would be the big 1M?


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## lemontree (17 June 2010)

JTLP said:


> Don't know lemontree...too hard to tell this stuff.
> 
> What I can tell you and everybody else is that 1 million ounces of that solid gold love DISAPPEARED when they did a remodelling of the JORC. Interesting times indeed if you are a holder. How can that happen you ask? Are management responsible? Who knows...all I know is that the JORC went from circa 1.2M oz to 200,000 oz. Bye bye the possibility of mining at Tennant Creek.
> 
> P.S When they said significant who'da thunk it that it would be the big 1M?




Everyone was anticipating a drop in the reserves.. but i agree, 1 million is quite the discrepancy. Bought in at .4c and was hoping to sell at .5c to make a quick buck haha. But later decided it would be wise to just sell back out at .4c and make a minor loss on brokerages. Should have done my due dilligence before making such a trade.


----------



## Sean K (19 June 2010)

JTLP said:


> What I can tell you and everybody else is that 1 million ounces of that solid gold love DISAPPEARED when they did a remodelling of the JORC. Interesting times indeed if you are a holder. How can that happen you ask? Are management responsible? Who knows...all I know is that the JORC went from circa 1.2M oz to 200,000 oz. Bye bye the possibility of mining at Tennant Creek.
> 
> P.S When they said significant who'da thunk it that it would be the big 1M?



HUH?  They reduced their 'JORC' by 1m ounces?

And management tried to put a positive spin on it.



> we are now creating a solid foundation which is necessary for evaluating future exploration and development options at Tennant Creek



Who are they kidding.

So, who lost their job over this? It's almost corporate fraud. 

Unbelievable.


----------



## JTLP (19 June 2010)

kennas said:


> HUH?  They reduced their 'JORC' by 1m ounces?
> 
> And management tried to put a positive spin on it.
> 
> ...




Nobody lost their job. It's all roses over at EXM.

To make matters worse for holder's...with the little cash reserve they have left they are going out to Tanami to try and make it big there.

Do I hear slush fund?


----------



## Sean K (14 July 2010)

JTLP said:


> Nobody lost their job. It's all roses over at EXM.
> 
> To make matters worse for holder's...with the little cash reserve they have left they are going out to Tanami to try and make it big there.
> 
> Do I hear slush fund?



This really looks in trouble. Can it go to 0.0009? I'm not sure if that's possible is it.

MC must be down around $10m or less now. 

Maybe they'll switch into diamonds, or, or something.


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## GumbyLearner (15 July 2010)

kennas said:


> HUH?  They reduced their 'JORC' by 1m ounces?
> 
> And management tried to put a positive spin on it.
> 
> ...




I agree Kennas.

These clowns have no idea. 

Maybe a knock on the door is not that far off. 

What's the current JORC? NFI!!!!


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## burglar (26 November 2010)

What do you think? Have they tanked or not?

I hope so, cos I've been buying them all the way down!

And aren't they fun to watch in the Pre-Open?!         :twak:


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## burglar (2 December 2010)

Two Directors resign at Annual General Meeting. 

http://www.asx.com.au/asxpdf/20101130/pdf/31v9gmw65hvkx0.pdf

As a result, I fear this is not a good time for a big position!


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## Sean K (2 December 2010)

burglar said:


> Two Directors resign at Annual General Meeting.
> 
> http://www.asx.com.au/asxpdf/20101130/pdf/31v9gmw65hvkx0.pdf
> 
> As a result, I fear this is not a good time for a big position!



Why such a big position burglar?

Averaging down?

I haven't even checked the SP but they have a very ordinary record.

Maybe change in some directors will be a good thing.


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## aussie2004 (2 December 2010)

one of the worse pick in my life. I lost heaps on it, can't hold no longer, just sold today


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## burglar (2 December 2010)

kennas said:


> Why such a big position burglar?
> 
> Averaging down?
> 
> ...




Hello Mr Kennas,

It may have been one of my biggest blunders, so let's tell the story here and all the trdaadies can have a good laff. 
On second thoughts, ... not.

BTW I need a good spillchecker

I like 'em, ... I like 'em a lot!
I gotta a lotta loot from them earlier!
Well, not enough to cover my current position!

Did I just hear a daytrader laff? 

If EXMOA goes $0.34 the burglar will be a millionaire and will quit his day job! lol 
Re directors, maybe they were the best for that job, maybe the worst, and no way to tell. 

Show me the SP in six months time.

Cheers,
burglar


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## exberliner1 (2 December 2010)

I lost a pile on this one as well.

With both option issues and heads I had about 10mn shares at one point.

I sold the OAs at a rather bizarre 90% profit in the middle of the GFC when they went for a brief and unexplained run - the rest however was a disaster.

I liked the management story and believed their estimates especially with regard to the JORC figure. Unfortunately the management were either not telling the true picture or were unable to understand the data.

I dumped when the true gold reserves figure was announced.

I did find a series of better stocks following the sales and made my loss back and more but it does leave a bitter taste that management can get away with impunity with issuing misleading and downright incorrrect information to the ASX for years.

Of course now, given the number of shares in issue the stock is effectively dead unless current holders take a haircut and go for a consolidation issue and new capital is found.

The resigning directors should be investigated by ASIC - in fact the whole management should.

There are much better companies out there than EXM at the moment.

The word .... avoid .... comes to mind.

EB


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## Sean K (2 December 2010)

aussie2004 said:


> one of the worse pick in my life. I lost heaps on it, can't hold no longer, just sold today



Hope you didn't sell at the bottom aussie. Can't really go too much lower and probably won't go into administration at this stage. Still money in the bank. They're still hanging their hat on TC too. Historically some great grades, but need to discover some tonnage. If not, looks in real trouble.


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## burglar (2 December 2010)

Hi eb,

I believe that the missing ore at Juno represents a fraction of missing ozs.
I visualized the fraud squad traipsing through their office collecting 
documents not yet shredded, and computers too!
Hence the need to revise JORC and  oops ... missing ozs everywhere!

Then directors resign, what would you think?

Alan Bond said, whenever you find something, there's always more nearby.
That's why I stick with these ... for the moment.

burglar


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## burglar (8 December 2010)

Mr Kennas,
Being self-taught, my mentor also self-taught, I have trouble finding names.
Is this what you meant by averaging down?

03-09-2009	Sell	EXM	50,000	0.0140	$682.01
29-05-2009	Sell	EXM	87,638	0.0170	$1,471.86
13-05-2009	Buy	EXM	87,638	0.0110	$982.01
17-12-2007	Buy	EXM	25,000	0.0380	$967.99
10-12-2007	Buy	EXM	25,000	0.0430	$1,092.99

Thanks to you, I have found the answer I sought since 
22 November 2010, when I accidently fell into ASF.

I am in trouble with EXMOA because the underlying derivative has been 
manipulated by forums, newsletters and prominent magazines. 
I failed to do stop loss early on.
I missed an early chance to take a profit.
I was greedy and now comes the paying of the piper.

I fear they may now sit on the bottom till they expire worthless.
Or consolidate 1 for every 10 held (or worse) followed by erosion of the Share Price.
Not going there again. 
If the buyer of EXMOA at $0.001 is still around, I will shift some today!

You have taught me a valuable lesson. Many thanks.


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## burglar (15 January 2011)

kennas said:


> ... Historically some great grades, but need to discover some tonnage. If not, looks in real trouble.




Mr Kennas, 

Looks in real trouble IMO
Big seller in both EXM and Options this week. 

If only they would publish some good news to stop the sliding SP 

Eternal optimist, I'm holding EXM
Still have some EXMOA Options too.


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## drillinto (30 November 2011)

November 29, 2011

Excalibur Will Shortly Change Its Name To Pendragon, And Unveil New Projects To Develop Alongside The Tennant Creek Flagship
By Our Man in Oz >> www.minesite.com/aus.html (free registration)

The road to Tennant Creek has been a rough one for Excalibur Mining, as the super-rich pods of gold that the company has targeted around the remote town in Australia’s Northern Territory have proved to be painfully elusive. However, undeterred by a near-death experience last year when a large theoretical gold resource shrivelled in the cold light of drilling results and a fresh look at old data, Excalibur is plotting a return - with major changes. 

First: a new name, though the Arthurian theme persists. Back into the lake goes Excalibur, and onto the scene comes instead Pendragon, which Round Table officionados will know was the name of King Arthur’s father. The precise details of the emergence of Pendragon are still a well kept secret. But from what Minesite’s Man in Oz has picked up while wandering the back-streets of his home town, Perth, the process will involve a new listing on the Toronto Stock Exchange to complement the quotation on the ASX. 



And, as a means of attracting North American interest, it seems a number of fresh gold exploration assets, most probably in the gold-rich Indonesian province of West Papua, which is home to Freeport’s giant Grasberg mine, will be injected into the company.



Excalibur’s executive chairman, Alex Bajada, was keen to talk about the behind the scenes work at the company, but said it was a bit early to discuss the new Pendragon name, or the details of the fresh assets. What he did acknowledge is that a recapitalisation is now well underway, and that a prospectus is currently in the market to raise A$5.9 million via the issue of a wheel-barrow load of 5.9 billion shares at a microscopic one-tenth of a cent. A major consolidation will follow the share issue, leaving a fresh-looking Pendragon with an ASX and TSX listing, up to A$8 million in cash, new Indonesian gold tenements, and another chance to prove that the gold at Tennant Creek is more than a mirage.



The reason Excalibur/Pendragon retains its interest in Tennant Creek is easy to understand, from both a historic and a more recent perspective. In the early life of the company’s plum Tennant Creek assets, Juno and Noble’s Nob, gold was produced by the bucketload (a non-technical term). Officially assays from drilling sometimes yielded more than 100 ounces to the tonne, and in the peak year of 1954 Noble’s Nob produced just 15,534 tonnes of ore for a yield of 47,537 ounces of gold, roughly three ounces to the tonne. After those halcyon days, the entire Tennant Creek goldfield disappeared, shrouded from the view of outside explorers by a blanket ban enforced in the name of Aboriginal land rights.



The modern appeal of Tennant Creek is two-fold. Firstly, other explorers are starting to re-connect with the gold trapped in the complex structures in the region. Secondly, a fresh technical look at the Excalibur tenements has re-kindled enthusiasm, both inside and outside the company.



Not far from Excalibur’s Juno and Noble’s Nob projects, where Excalibur flamed out on its first pass at its attempt to get a mine going, both Emmerson Resources and Westgold Resources are having more success. Emmerson has reported bonanza drill hits at its Goanna project, including 3 metres at 34.1 grams a tonne, and Westgold has reported assays up to nine metres at 12.2 grams per tonne from its Rover project. 



The Emmerson and Westgold results have confirmed the prospectivity of the ground at Tennant Creek, and inspired Excalibur and its consultants to return to the scene for a revitalised attack, a step which could finally draw a line under the 2010 disaster, when a theoretical 800,000 ounce gold resource on the Excalibur ground was reduced to just 280,000 ounces by hard-nosed technical analysts.



“We need to finish what we started at Tennant Creek”, Alex said, in reference to the work plan that’s being hatched to go along with the corporate restructure of Excalibur. “We have received the first draft of a positive review of our tenements in the area from experts at SRK Consulting, and while it isn’t ready for release yet, it is likely to recommend a number of steps designed to answer the question about how best to locate economic mineralisation on our tenements.” 



The SRK team is being complemented by an expanding group of technical experts inside Excalibur, some with extensive experience with the Canadian gold producer, Kinross. It is their input, alongside that of SRK, which is adding to the confidence of Alex and other Excalibur board members.



For investors and Excalibur’s management, the Tennant Creek saga has been bitter. When the company embarked on its attempt to re-develop a mine in the area, either by re-processing mine waste dumps which reportedly grade up to three grams per tonne, or by mining around and below the historic underground workings, hopes were high and the shares commanded a share price 10-times what they are today, namely A0.002 of a cent. 



The next phase in the life of Excalibur will restore interest in the company, especially given its new name, new assets and new technical team. But, one thing that will remain unchanged is the geology of Tennant Creek which is undoubtedly hiding more rich gold pods like those at June and Noble’s Nob. It’ll be interesting to see what happens next.

;;;;;;;;;;;;;;;;;;;;;;;;;


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## TMC93 (30 November 2011)

Great post, had this one on the watchlist and didnt buy which was a good thing in hindsight, these new announcements have sparked some interest so will have to look into this company again. Price is attractive at one tenth of a cent for any company but there is probably a reason they are so cheap


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## burglar (29 June 2012)

TMC93 said:


> Price is attractive at one tenth of a cent for any company but there is probably a reason they are so cheap



Yes, on both counts.

Price is attractive! One Director is buying at $0.001
Probably a reason they are so cheap: A gold explorer without funds.

"Drilling Update"

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01309440


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## Sean K (29 June 2012)

burglar said:


> Yes, on both counts.
> 
> Price is attractive! One Director is buying at $0.001
> Probably a reason they are so cheap: A gold explorer "Drilling
> ...



You still persisting with this woofer burger? I thought they had died due to a lack of gold in those holes.


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## burglar (29 June 2012)

kennas said:


> You still persisting with this woofer burger? I thought they had died due to a lack of gold in those holes.



Hi Mr kennas,

Not so much persisting ... the reality is I'm stuck with a few.

I still believe there is gold nearby...
... just don't know if this outfit is capable of delivering same.


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## sparkvale2 (12 October 2012)

Whats going on with this old dog?

http://imagesignal.comsec.com.au/do...nZXNpZ25hbC9lcnJvcnBhZ2VzL3BkZmRlbGF5ZWQuanNw


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## TMC93 (13 October 2012)

Pure speculation and probably not much else, i don't think many (if any) traders see value in this stock only the chance to gamble on a multi bagger.


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## burglar (21 December 2012)

kennas said:


> You still persisting with this woofer burger? I thought they had died due to a lack of gold in those holes.




No longer persisting with EXMOA, ...
They expired, worthless, today.



Cheeky buggers actually sent correspondence, 
explaining how to exercise them!!


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## Sean K (21 December 2012)

burglar said:


> No longer persisting with EXMOA, ...
> They expired, worthless, today.
> 
> 
> ...



So still holding some ordinary shares, I assume? Are they still actually drilling? What happened to the July holes? 

Fingers crossed 2013 is a great one for EXM, burgs.


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## burglar (21 December 2012)

kennas said:


> So still holding some ordinary shares, I assume? Are they still actually drilling? What happened to the July holes?




July holes?
African Gold mine?

No idea and don't much care!



kennas said:


> Fingers crossed 2013 is a great one for EXM, burgs.




I lost plenty, I learned a lot.
Clawing it back a cent at a time!
I have little interest in EXM now.


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## burglar (18 March 2013)

burglar said:


> ... African Gold mine? ...




Kiss of death: 1 for every 100 held. 
New issue at 10 cents to raise $30Mill.

http://www.asx.com.au/asxpdf/20130318/pdf/42dqtf7561dnwq.pdf


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## burglar (18 March 2013)

burglar said:


> Kiss of death: 1 for every 100 held.
> New issue at 10 cents to raise $30Mill.




Correction: New issue to raise $3Mill.


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