- Joined
- 1 November 2006
- Posts
- 373
- Reactions
- 14
New placement announced this morning: Shares at 3c carrying a free 2012 option with a 6c exercise price.
EXM - Excalibur Mining Corporation
- Thread starter moneymajix
- Start date
- Joined
- 29 March 2006
- Posts
- 218
- Reactions
- 0
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
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
- Joined
- 29 June 2006
- Posts
- 1,458
- Reactions
- 0
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.
- Joined
- 3 December 2007
- Posts
- 4
- Reactions
- 0
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
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
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!
Hope this helps!
- Joined
- 29 June 2006
- Posts
- 1,458
- Reactions
- 0
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
- Joined
- 29 March 2006
- Posts
- 218
- Reactions
- 0
hey guys,
whats happeningto EXM?
when is the tenant creek thingy coming out?
People have been waiting for it!
Everone thought middle of december?
whats happeningto EXM?
when is the tenant creek thingy coming out?
People have been waiting for it!
Everone thought middle of december?
- Joined
- 11 July 2007
- Posts
- 361
- Reactions
- 3
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
- Joined
- 29 June 2006
- Posts
- 1,458
- Reactions
- 0
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...
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!
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.
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!
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.
