Be careful trading this stockI imagine there's more going on behind the scenes...I still think this stock is worth far more than what it is trading, dispite the dilution, or these big players would have moved their capital elsewhere. If Sprott is still sticking around, he knows the score and he did not participate in the latest financing because EXN most likely doesn't want him to own more shares (thats my opinion)
I think I remember awhile ago that management announced they did not require further financing. At that time, ES issued a statement that he was no longer bound by his restriction to own a certain percentage of EXN stock and could acquire more in the open market...Seemed to me at the time as a loop hole he took advantage of. The exact details escape me at the moment but I will have to go back and check.
What I do remember is stating on this board at that time that management issued that statement to possibly prevent ES from making moves to take over more of the company. After that time, ES employed tactics to push the share price lower and lower so that he could have shareholders capitulate and sell their shares to him since management wouldn't give him his sweet PP deals on his terms ...
So here we are ...just before this latest financing deal, massive accumulation of stock occured raising the price 50% and then they announced this crazy deal out of nowhere...
All I know that this stock will move crazily over the coming weeks as I suspect some serious power moves will take place so it may be prudent to trade carefully. If you are thinking of trading in and out of this stock, you may find yourself trapped and unable to re-enter if it shoots up too fast
Just my opinion