EXM - Excalibur Mining Corporation

[mick2006]

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.

 

[Sean K]

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

 

[mick2006]

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.

 

[motion]

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..

 

[exberliner1]

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

 

[mick2006]

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.

 

[imaginator]

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.

 

[imaginator]

Ok someone told me it was AUM.

Do you think EXM could also shoot to $10?

What do you expect from EXM?

 

[juw177]

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?

 

[Sean K]

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

 

[imaginator]

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

 

[Sean K]

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.

 

[exberliner1]

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

 

[imaginator]

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

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

 

[juw177]

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.

 

[imaginator]

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.

 

[mick2006]

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.

 

[rico01]

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

 

[yuyry002]

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.

 

[gordon2007]

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.