First Asset Morningstar Emerging Markets Composite T.EXM.A

are people confused?

[henkh73]

I think people are confused by the numbers because the company lost money over the whole year (assuming 800$/oz of gold and ignoring the silver for now). The dug up 338304 ton at a cost of say $15/ton. That implies a loss of 5580*800-338304*15=-610,000. But that was during the ramping up stage. But read more carefully: they produced 5580 oz in the last 3.5 month. Using the average head grade provided, it implies they processed 100440 tonnes (at $15/ton), which means they made almost 3 million dollars! So they seem on track for at least 10 million dollar this year, of which 30% goes to Exmin. What am I doing wrong here? or is the market doing something wrong? The company has about 1M dollar in cash after the warrants were exercised and will be getting about 3M dollar this year from the mine. Yet it trades at only 21M MC?

[Nosleep]

could still easily be warrant overhang unfortunatly. Who really knows. Dissapointing, being punished for being an explorer with an income source, and an income source that could become more valuable as the year progresses. It is odd. We could be seeing the last of some warrant selling though. Nosleep

[gabrielgray]

Looks bad, doesn't it? It's not just EXM, not just the juniors, it's everything. Minera Andes just announced a drill core from Los Azules that contains over 600 feet of .89% copper, after last week's 1.69 ounce per ton gold and heaven only knows how many ounces of silver per ton. Result: the stock sells off on pitiful volume. I bought EXM at .28 today. That was a good deal.

[Revelation181]

Yes it must be confusing for investors to read about EXMDriving around Mexico with a Diamond Drill attached to the back of a pick up truck !!Enjoy Mining$$

[frankthetank1]

You bought some of my shares. I'm expecting a drop in SP for the juniors when the metals correct. I will sit and wait for the 52 week lows to be tested then we will rocket up as gold breaks a thousand and runs too $1200. The junior flurry will eventually come but first we will recieve more pain. Good luck and these are just my oppinion. Tank

[RADAR@214]

LOL GG you couldn't resist eh I'm looking to add also but 0.28 was a bit rich for me 0.25 is my upper limit in this 'no support/interest cept us lil guys' market enviro. good to see you back here

[ship_rat]

Over the last couple of days I bought 400,000 shares out of ECU profits I had hanging around for the last year....I expect a triple shortly or there abouts.....no, I am not a loser.

[gabrielgray]

Hi guys, I never gave up on EXM, I just closed out @ .36 when it failed the .37 breakout, and kept watching it for re-entry. You could be right, frank, but I didn't want to take the chance on that chart. EXM may test .24-.25 again, but I don't believe it will linger there long. The fundamentals have shifted dramatically, and I was afraid I might snooze and lose. I'm strapped in

[RADAR@214]

Juniors not seeing benefits of soaring gold pricePosted: March 13, 2008, 8:51 AM by Jonathan Ratner MiningThere is a growing chorus of analysts – and investors most likely – whofeel that share prices of small cap gold companies do not adequatelyreflect spot gold, which climbed above US$996 per ounce on Thursdaymorning.Bullion has soared more than US$150 so far in 2008, and is up more thanUS$340

[bryancj]

I make the cash cost at somewhere between $560 and $610 /oz gold range based on the latest figures released by EXMIN for Moris. If Gold remains at $1000 we are talking of about $400 margin and at 60,000 pa that gives the Moris project $24million profit p.a. - Exmins share being $7m. This beats the original forecast of $4m pa profit for EXMIN. Not bad though cash costs are higher than

[bryancj]

The figures in my previous note are not correct sorry!. Here is a revised assessment. If exmin are to produce 1080k per annum this would cost $15.1m using the upper end of there cost range at $14 per tonne. If prices are to stay at current levels revenue would be approx $25m for gold (25,000 x $1000) and $1.2m for silver (60,000 x $20) total of $26.2m. That gives us a profit of $11.1m

[ramblersrest]

.....i am not counting on any income from the mine until EXM actually receives their portion (if any)....generally start ups carry a paper loss for many many quarters before they are in a profit/taxable position.....j4r

[bryancj]

EXMIN have publically stated that profits have been recorded since the beinning of 2008.

[ramblersrest]

....EXM has only said that the mine has been operationally profitable since the beginning of the year ,there are streamlining costs etc. and expenses to be accounted......all i am saying is that EXM won't know if ,when and how huch income they will receive until it actually happens........the mining economics for small producers has been difficult and often dissapointing despite high metals

[soccer57]

Does anyone have any ideas on why cash costs are so High? $550-600?? best wishes Soccer

[ramblersrest]

...we were being told 6 weeks or so ago that the costs were to be approx $250 .....it will take 18 to 24 months of reporting to get an indication of how this is actually performing at the bottom line.....SP is showing subdued expectations

[bigbeach2010]

         "SP is showing subdued expectations"I don't think we are seeing subdued expectations, there has just been nothing exceptional to garner attention to drive the sp upward.  We are not the only jr to have this issue, most that have moved have had the news to attract investor attention.  I could be wrong but it seems we need to

[Revelation181]

No.... Exmin's partner  is charging Karl extra to operate the mine !In order to recoup the money they donated  for his current 25 cent PAPERIMO"""Enjoy Mining""