I 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.
Hey! I was never worried about that. It makes no difference to shareholders anyway, IMHO.
Just a few comments to bring the board into perspective.
Cool, bring us up to speed.
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?
Those weren't my words but I would guess the guy that made that post is not happy about the way his investment has turned out. You have to admit that EXM is not even close to being the company it was a couple of years ago. Their outstanding share count is over 100,000,000, they have no source of income, they have sold several good properties, a PP at 2 cents will dilute the crap out of EXM, the Moris mine was a bust............ Given this his statement doesn't sound all that far off to me?
Were you told this or did you surmise this based on your vast experience?
Again, not my words but if you look at the facts I don't think you need vast experience to come to his conclusion. Even if it is just his opinion how can you refute it?
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.
It appears to me that whomever made that statement made a mistake. If someone posts the facts and they are negative why is that bashing? Are we supposed to ignore everything negative? It would be unfair to only post the positives, wouldn't it?
The founders of the company have likely invested much more in the company than any poster here, and obviously have much more to lose.
They have a lot to lose, no doubt.
The constantly negative posts are not very productive and in many cases are pure reaction with no thought.
Feel free to post something positive other than, "phone the company". I dare you to post 10 killer good deals that EXM has made to increase shareholder value?
I don't think there are many shareholder's who believe that things have gone well with EXMIN,
I don't know any........
and I am not trying to say that they have.
Good.
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.
This company was not supposed to be affected by this because they had a JV in a producing mine that was going to provide cash flow and keep the company afloat in rough times.
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?
Tell us all. You've talked to management. Give us the details of all the great things they are going to do?
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.
I agree that the Moris mine affair was a fiasco. In my opinion that deal has crushed the company and have reduced the odds dramatically for existing shareholders to ever recoup their investment
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,
How did the Moris mine go south? What safeguards were put in place to protect the interests of EXM shareholders? What kind of deal was cut that made no distributions likely for EXM? What the frick really happened?
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?
When your only choice is to sell it's a moot point. Again I ask, how did EXM get themselves into that position?
There was obviously no white knight such as Rob McEwan with Minera Andes.
Nope, there was no white knight, too bad.....
It is important that the company is still active and can benefit from any positives that are available instead of being out of existence.
Give us a list of ten things shareholders can look forward to?
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.
I'm sure they're trying their best but with a 2 cent share price are you surprised that shareholders are not impressed? .
In many respects there has been little change in EXMIN concerning its property position,
It's changing for the worse, IMHO.
there was a change in the market and the ability of companies to finance.
EXM could easily laid low for the tough times had the Moris mine paid them any distributions.
The exploration projects are largely the same and contrary to a previous post, most of the best ones have not been sold.
Some very good projects have 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.
Yes, they're all "potential major discoveries". Given they have little cash and any financing will crush current shareholder value how is EXM going to continue? These properties come with fees that need to be paid. The previous poster is pointing out that eventually EXM has to anti up the fee or lose the property. Either that or dilute current shareholders.
Whether the financing of the exploration without excessive dilution can be resolved, that is what shareholders need to be concerned with.
DUH!!!! No kidding. What the frick do you think they have been saying?
The company needs to gain interest in the market, which seems to be more interested in production than in exploration,
Yup, it's too bad EXM couldn't manage to get any benefit of owning 30% of a producing mine, wouldn't you say?
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.
No doubt they are conserving capital and any financing deal is going to dilute the crap out of existing shareholders.
I would say that it's really bad for EXM when you consider that the Executive Vice President of Exploration and a Director of the company has been selling recently
Filing Date Transaction Date Insider Name Ownership Type Securities Nature of transaction # or value acquired or disposed of Unit Price
Jun 08/09 Jun 03/09 Gibson, Craig Direct Ownership Common Shares 10 - Disposition in the public market -50,000 $0.025
Jun 01/09 May 26/09 Gibson, Craig Direct Ownership Common Shares 10 - Disposition in the public market -33,000 $0.020
Jun 01/09 May 26/09 Gibson, Craig Direct Ownership Common Shares 10 - Disposition in the public market -77,000 $0.025
Feb 16/09 Feb 11/09 Gibson, Craig Direct Ownership Common Shares 10 - Disposition in the public market -24,000 $0.050
Feb 16/09 Feb 10/09 Gibson, Craig Direct Ownership Common Shares 10 - Disposition in the public market -50,000 $0.045