RE:RE:Back to realityBack to reality, indeed. Attended the web seminar that was solely focussed on Silver Sity. Heavy on promotional stuff, light on specifics. For such a large tenament as Silver City, Exn needs to drill a lot and that comes with a cost Exn cannot afford, unless they dilute. Same for Kilgore, Platosa and Evolucion.
As I see it, Exn needs to get their priorities straight. For example, what would be Number One priority for 2021 - Silver City, Kilgore, or Platosa?
Oliver views Kilgore as the next catalyst, although I have my doubts about the timing and cost of bringing Kilgore to production. We are not talking about Silver Sity here as it needs easily three years of continuous drilling before any meaningful understanding of the reserves in the grounds is achieved. During the webseminar I noted Exn chief economist, who Cahuill brought for a change, throwing numbers of 100 of million ounces of silver in the ground. He may be right, but his role is to get these numbers first instead of pumping.
One reasons why Exn is vague about the 2021n priorities (and I note that any self-respected miner has listed and made public their 2021 guidance) is expected equity financing. After all Exn needs the money for these juicy developments. Cahill, you will be asked to swalow your spits If the share dilution comes at subpar $5 - the price when Exn was listed at the NYSE - as actions speak loudre than any words (as if the words of Cahill has any wieght any more).