EXM - Excalibur Mining Corporation

[NT Trader]

I bought into EXM @ 1.1c not long after buying into WGR. Made a nice profit from WGR who are a stones throw from EXM. I like that EXM have interests in past mines in Peko and Nobles Nob, a transition to producer cost wise would be low. However, I feel they have far too many shares to be of any huge value. In saying that, at such a low price, doubling up or even quadrupuling my initial investment (1.1c) is a very real prospect. That's why I love small priced shares for short term profit. A new board would be nice though and all my votes on the current team are against.

[nathanblack]

ive held for about a month now. im not concerned about the shares on issue, i think market cap is more relevent and this one has plenty of room to move.

[adobee]

Testing 1.8c resistance.... lets hope there are some strong buyers to push this through .. 1.9c + & I dont know where this would go ...

[moneymajix]

Spectacular Juno Diamond Drilling Results Delivers New High Grade
Gold Mineralised Zone

http://www.excaliburmining.com.au/IR...&PageName=Juno Diamond Drilling Update 16 November 2009

[JTLP]

Ouch!

EXM announced that there will be a substantial downgrade in their historical Juno inferred oz's. This sent the shares spiralling down! Ooooppps...minor slipup on managements behalf...or was it? Perhaps they were conducting some due diligience and decided to come clean? Maybe they didnt want to dig deep and realise they didnt have what they though they did?

Who knows...market really didn't like it.

[kennas]

Ouch!

EXM announced that there will be a substantial downgrade in their historical Juno inferred oz's. This sent the shares spiralling down! Ooooppps...minor slipup on managements behalf...or was it? Perhaps they were conducting some due diligience and decided to come clean? Maybe they didnt want to dig deep and realise they didnt have what they though they did?

Who knows...market really didn't like it.

One of the reasons I take managements word on things at face value and like to see price action confirm any real value in a stock.

CTO a classic example.

Promises, JORC's, timetables, plans, free options for nothing, and then just plain BS.

[JTLP]

One of the reasons I take managements word on things at face value and like to see price action confirm any real value in a stock.

CTO a classic example.

Promises, JORC's, timetables, plans, free options for nothing, and then just plain BS.

Believe it or not I actually like the new management. This is a very average result and will definitely see the SP languish but I can appreciate the honesty in a sense. The director selling does paint a bit of an interesting picture though.

It does raise issues now about trustworthiness and financing the project. Also all other costs must now be out the window with this revised ounces. I think cash cost were around 300 per oz...that seems too low for a start up company.

Where do they sit on that trendy excel spreadsheet of yours Kennas...maybe minus 2 - 300 thousand ounces?

Ouch again!

[kennas]

Where do they sit on that trendy excel spreadsheet of yours Kennas...maybe minus 2 - 300 thousand ounces?

Ouch again!

I looked through the ann but didn't see an actual number of ounces anywhere.

Didn't it just say a 'substantial reduction' or something?

[JTLP]

I looked through the ann but didn't see an actual number of ounces anywhere.

Didn't it just say a 'substantial reduction' or something?

Yes. It did say substantial reduction but didn't quote any specifics. The exact figure is supposed to filter through in the next couple of weeks.

I was just being generalistic in my reduction. Perhaps a 33% reduction is big enough to be substantial? Pretty ambiguous term.

And the cast costs...mmm

[moneymajix]

Drilling Update - New Drilling at Juno Continues

Highlighted intersections include:
• EJRD053B 11m @ 14.66 g/t from 284m down the hole
• EJD065 7m @ 17.75 g/t from 275m down the hole and
6m @ 14.34 g/t from 295m down the hole

Excalibur Mining Corporation Limited (ASX: EXM) advises that the company has received results for
recent drill holes that were part of the stope validation work currently being undertaken at
Excalibur’s Juno Project at Tennant Creek, NT.
The complete list of drill results is attached below.

Excalibur’s current Juno drilling program at Tennant Creek has 3 objectives:
• to define the extent and magnitude of the recent Up-Dip discovery at Juno;
• to identify and test inferred areas and extensions around Juno not yet included in the
project's current resource assessment; and,
• to validate current stope positions.




http://asx.com.au/asxpdf/20100312/pd...svxjg12s25.pdf

[JTLP]

This one is getting ugly now. Really need that CUBE consulting update about how bad the resource downgrade is. Management really need to pull the finger out. Faith is probably at an all time low with this mob.

[lemontree]

I think 2 days ago someone sold off 40million shares at .4c leading to many others to start selling in frenzy. Just today, possibly the same person bought back 40million at .4c. Could it be that was an attempt to cause some selling so he/she could buy at a lower price?

[JTLP]

I think 2 days ago someone sold off 40million shares at .4c leading to many others to start selling in frenzy. Just today, possibly the same person bought back 40million at .4c. Could it be that was an attempt to cause some selling so he/she could buy at a lower price?

Don't know lemontree...too hard to tell this stuff.

What I can tell you and everybody else is that 1 million ounces of that solid gold love DISAPPEARED when they did a remodelling of the JORC. Interesting times indeed if you are a holder. How can that happen you ask? Are management responsible? Who knows...all I know is that the JORC went from circa 1.2M oz to 200,000 oz. Bye bye the possibility of mining at Tennant Creek.

P.S When they said significant who'da thunk it that it would be the big 1M?

[lemontree]

Don't know lemontree...too hard to tell this stuff.

What I can tell you and everybody else is that 1 million ounces of that solid gold love DISAPPEARED when they did a remodelling of the JORC. Interesting times indeed if you are a holder. How can that happen you ask? Are management responsible? Who knows...all I know is that the JORC went from circa 1.2M oz to 200,000 oz. Bye bye the possibility of mining at Tennant Creek.

P.S When they said significant who'da thunk it that it would be the big 1M?

Everyone was anticipating a drop in the reserves.. but i agree, 1 million is quite the discrepancy. Bought in at .4c and was hoping to sell at .5c to make a quick buck haha. But later decided it would be wise to just sell back out at .4c and make a minor loss on brokerages. Should have done my due dilligence before making such a trade.

[kennas]

What I can tell you and everybody else is that 1 million ounces of that solid gold love DISAPPEARED when they did a remodelling of the JORC. Interesting times indeed if you are a holder. How can that happen you ask? Are management responsible? Who knows...all I know is that the JORC went from circa 1.2M oz to 200,000 oz. Bye bye the possibility of mining at Tennant Creek.

P.S When they said significant who'da thunk it that it would be the big 1M?

HUH? They reduced their 'JORC' by 1m ounces?

And management tried to put a positive spin on it.

we are now creating a solid foundation which is necessary for evaluating future exploration and development options at Tennant Creek

Who are they kidding.

So, who lost their job over this? It's almost corporate fraud.

Unbelievable.

[JTLP]

HUH? They reduced their 'JORC' by 1m ounces?

And management tried to put a positive spin on it.

Who are they kidding.

So, who lost their job over this? It's almost corporate fraud.

Unbelievable.

Nobody lost their job. It's all roses over at EXM.

To make matters worse for holder's...with the little cash reserve they have left they are going out to Tanami to try and make it big there.

Do I hear slush fund?

[kennas]

Nobody lost their job. It's all roses over at EXM.

To make matters worse for holder's...with the little cash reserve they have left they are going out to Tanami to try and make it big there.

Do I hear slush fund?

This really looks in trouble. Can it go to 0.0009? I'm not sure if that's possible is it.

MC must be down around $10m or less now.

Maybe they'll switch into diamonds, or, or something.

[GumbyLearner]

HUH? They reduced their 'JORC' by 1m ounces?

And management tried to put a positive spin on it.

Who are they kidding.

So, who lost their job over this? It's almost corporate fraud.

Unbelievable.

I agree Kennas.

These clowns have no idea.

Maybe a knock on the door is not that far off.

What's the current JORC? NFI!!!!

[burglar]

What do you think? Have they tanked or not?

I hope so, cos I've been buying them all the way down!

And aren't they fun to watch in the Pre-Open?!

[burglar]

Two Directors resign at Annual General Meeting.

http://www.asx.com.au/asxpdf/2010113...gmw65hvkx0.pdf

As a result, I fear this is not a good time for a big position!