EXM - Excalibur Mining Corporation
- Thread starter moneymajix
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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
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
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)
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)
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
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
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
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.
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.
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.
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.
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.
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.
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.
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
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
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.
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.
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
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
prawn_86
Mod: Call me Dendrobranchiata
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Yuy,
why do you think it wont drop below 4c again? a bit of quantification please. Just a few words is all it takes
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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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!
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.
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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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.
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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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 ...
