RE: PP...bigbeach..this is actually pretty bullish news.
You are no doubt correct in that the placement is being purchased by an insider or two, and that the total amount of $100K is fairly inconsequential, perhaps addressing a very specific short term cash requirement.
But the price tag of 30 cents (plus 50 cent warrants) is what is key here as it makes a clear statement. First, someone obviously feels quite comfortable paying a 20% premium to yesterday's closing share price. Second, they obviously feel very confident that the shares are a slam dunk double to reach the warrant price of 50 cents and then some or they otherwise would have had no incentive to pay the premium up front. No doubt the purchaser(s) here are expecting a share price well above 50 cents in due time.
The other thing to note from today's trading is that the first 200K shares sold this morning came from MGI Securities. It is almost assuredly a warrant holder dumping into the market. They send a cheque into Exmin for $40K to exercise them at 20 cents, then sell into the market on open today at 25 cents to net themselves a nice 25% return of $10K. Perhaps that same shareholder is still sitting on their original block of 400K shares purchased on the financing at 15 cents and smiling while still being ahead a comfortable 40% on that position.
Also nice to see that there were a diverse group of buyers waiting to scoop up that block of shares to start today. Lots of sales coming from Anonymous this morning as well...even more warrant dumping I'm sure, but again plenty of buyers readily lying in wait to pick them up. Market depth is quite revealing here too with over 400K shares bid between 24-26 cents but only 160K on the ask between 26.5-29 cents as of 11 EST.
I suspect the warrant dumping is just about exhausted...