checking in from MexicoIt has been 3 hectic days so far during my visit to Mexico, but it was worth the trip. I have been staying in a small town in Southern Chihuahua, where this is no internet service available, and it is difficult to get news, but I was able to speak with Karl yesterday by phone, and I was aware the stock was getting hit hard. My deep regret is that I was unable to buy more EXM during the dip, but I hope I will get a shot to buy some on Friday when I get back home before it rebounds.
I am surprised by the selloff triggered by that news. During the 7 hour drive to visit the Urique project, I spoke with Craig and he told me that Penoles did not expect to hit anything significant on the first round of drilling. There is a defined zoning pattern on the deposits, and the upper elevations of the deposit are usually lower grade, but to do a thorough exploration program you drill them off before moving deeper in a system. Stockwatch chose to highlight the headline that Penoles did not expect high grade results. That kind of thing is a magnet to draw out daytrading shorts, and then stops get hit all the way down. Its great for those looking for an opportunity to add more cheap shares, but a hard lesson for the people who found out yesterday that they were stopped out for peanuts.
I will be writing several in depth reports on what I was able to see during my visit. This weekend I have to complete an article for the year end report of the Mexico Mike portfolio, and then I am flying back to Mexico next week to visit another company. But I will post as much information as I can to outline some of the things going on behind the scenes at EXMIN. Chihuahua is going to be a big part of the story in Mexico, and Mexico is going to be one of the hottest places in the world for mineral exploration during this PM bull market. The scale of our holdings is immense, and the discovery potential for those projects is very good. I have been averaging up on my EXM position since the summer, and I plan to continue to add more shares.
cheers!
COACH247