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EXM - Excalibur Mining Corporation

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



EB
 
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
 
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
 
2.7c
Up 12%

This has been making gains this week.

Looking very good.

Good volumes.

Gold price up too which is helpful.
 
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
 
My first post with attachment chart from Big Charts.

Close at 2.6c. High today of 2.9c.
 

Attachments

  • EXM Sept 5 07.gif
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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
 
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
 

Attachments

  • 18_moneypig_132257.gif
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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
 
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
 
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
 
EB

Of course, noticed.

Just didn't post.

Happy days, fingers crossed.

Maybe there are silent ASF holders out there!

 
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.
 
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
 
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.
 
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
 
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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