EXMIN Great ArticleSee below attached artcle on web https://gold.seekingalpha.com/article/28406
I hope I havn't duplicated someone else on this board with this information, but for those who have not read this it will give very a interesting insight.
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My personal favorite is EXMIN Resources. After publishing my report “Other People’s Money”, I received a call from CEO Karl Boltz. Karl wanted to correct my spelling errors and update me on his rapidly evolving Company. His enthusiasm for EXMIN and Mexico is intoxicating, to say the least. EXMIN is now up to 17 projects in 12 Districts in the Sierra Madres. He wanted to clarify that Dr. Gibson, EXMIN’s VP of Exploration, consulted for Hochschild on properties being sold by Grupo Mexico, not for Penoles themselves. Apparently Hochschild looked at dozens of projects in Mexico before deciding to JV with EXM at Moris. Boltz also disclosed that their largest institutional shareholder is US Global Advisors [GROW].
He clarified that the April warrants were from the private stock conversion and were re-priced when they did their first offering. The warrants are mostly held by management and insiders and will be re-priced to $.75, in April, for 3 more years.
He gave me some insight into the Penoles drilling program at Maguarichic. He indicated that 2006 drilling results, released last week, was strictly part of an orientation program. These locations were high on the ridges and meant to define targets lower in the valley and locate road access. This drilling was not expected to yield the type of bonanza results that he is looking for from the 2007 drilling program.
Boltz really impresses me. He is building his Company the right way. There are many junior companies that trade only in the pink sheets and get their first actual listing on the Frankfurt Exchange. Caveat emptor, "Let the Buyer Beware", of any company that can’t even muster a TSE Venture listing. Boltz wants to quickly move EXMIN from the Venture to the Toronto Exchange and pave the way for an Amex listing. He knows how a stock traded in the Pink Sheets/Frankfurt Exchange can be manipulated and he does not want that for his shareholders. I applaud that restraint.
Karl is very clear about one thing, they are explorers, not miners. They want to find the ore and partner with the experienced producers to do the mining. At this point, they are well partnered with Hochschild and Penoles. With 15 additional projects, I expect Boltz will continue to attract experienced mid-tier and senior partners.
The author is long EXM and has no positions in any other stocks mentioned in this report.