RE: StuffI apologize, of course I meant 2007, as the company did not exist in 1997, and 2007 was the year that the shareholders rights plan was put into place during the boom.
Just a few comments to bring the board into perspective. A previous poster stated:
"At this stage this company has nothing going for it, unable to negotiate, unable to finance, unable to explore, and soon we will likely be losing properties due to lack of exploration and funding."
How do you know this? Were you told this or did you surmise this based on your vast experience? Your opinions are yours, and are not necessarily true. Bashing the principals of the company serves no useful purpose, and leads to slanderous comments, such as the incorrect statement that the compensation agreement is new and suggests wrongful acts on their part.
The founders of the company have likely invested much more in the company than any poster here, and obviously have much more to lose. The constantly negative posts are not very productive and in many cases are pure reaction with no thought. I don't think there are many shareholder's who believe that things have gone well with EXMIN, and I am not trying to say that they have. The unprecedented market conditions that are currently affecting the juniors, mainly the lack of finance capital for exploration, were not forseen by many and occurred at a particularly bad time for EXMIN. It is easy to see this in hindsight, as the negative posters are doing, but the main point is what should be done going forward?
Just consider one constantly mentioned fact: the sale of the Moris mine. The purchase of the mine was obviously a fiasco, but was like a dream come true when the deal was made. When the Moris exploration deal with Hochschild went south, even after unarguably very good initial results, and Hochschild went way over budget on the rehabilitation of the mine, funded by Hochschild in what appeared to be a strong comittment to their partner, but making future cash distributions unlikely, what alternative was there for EXMIN? Sell the mine and try to go forward and recover, or go under. Which do you prefer? What would you have done? There was obviously no white knight such as Rob McEwan with Minera Andes.
It is important that the company is still active and can benefit from any positives that are available instead of being out of existence. Of course the principals in the company, being major shareholders, will try to have the company go forward in the best manner for shareholders, inluding an appropriate type of financing or a sale, merger or other alternative as mentioned by a previous poster. In many respects there has been little change in EXMIN concerning its property position, there was a change in the market and the ability of companies to finance. The exploration projects are largely the same and contrary to a previous post, most of the best ones have not been sold. The Horcon, Melchor Ocampo and Reyna de Oro projects are all potential major discoveries in some of the hottest districts in Mexico and actually the world, and Horcon is a potential near term gold producer. The problem now is funding work, as there is little or no financing available and no one wants to issue stock at such a low price.
Whether the financing of the exploration without excessive dilution can be resolved, that is what shareholders need to be concerned with. The company needs to gain interest in the market, which seems to be more interested in production than in exploration, or deal with a private or public company that can finance, and I would believe that the Directors and Officers of the company are working at that while also conserving capital.