RE: buying?Unfortunately the whole sector is dead at the moment not just EXM. Gold is rising, silver is rising and most junior PM stocks are trading down significantly. I don’t believe we’ve reached the bottom just yet. In fact $0.20 may not hold. It just takes one or two investors to capitulate and down goes the SP as there is no support on the bid to be found just about anywhere. IN FACT THERE ARE MANY PEOPLE POSTING ON OTHER THREADS THAT THEY HAVE SOLD EVERYTHING OR ARE IN THE PROCESS OF DOING SO. As I type there are only 100K shares on the bid down to $0.20 unless there are icebergs but I doubt that very much.
It doesn’t help when the likes of Paul Van Eeden show up on BNN recommending NOT TO BUY ANYTHING. (Although he’s hanging on to his juniors that produce AND are cash flow positive). Sadly I believe he is 100% correct. At the moment it is about preserving capital and not watching the market value of your PF sink lower and lower.
For the record, EXM is my 2nd largest position in terms of shares. I still have a decent cash position and will attempt to average down when it looks like the bottom is in. I would think somewhere between $0.15 & $0.18, unless of course the POG goes ballistic. IMHO the POG will continue to rise slow & steady as it has for the past number of years.
Someone had mentioned another PP at the end of March. That’s the last thing EXM needs at the moment. Who in their right mind would finance at $0.40 when the SP is below $0.25 and sinking. The current warrants are only an issue until March 9th but I don’t believe they are the sole reason the SP is sinking.
It kills me to say it but IMHO the best thing to do is sit on the sidelines and wait for a better buying opportunity. This might come to pass in a month or two.
Good luck and hope we all have better days going forward.
SMF069