EXM - Excalibur Mining Corporation

[kennas]

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!

Why such a big position burglar?

Averaging down?

I haven't even checked the SP but they have a very ordinary record.

Maybe change in some directors will be a good thing.

[aussie2004]

one of the worse pick in my life. I lost heaps on it, can't hold no longer, just sold today

[burglar]

Why such a big position burglar?

Averaging down?

I haven't even checked the SP but they have a very ordinary record.

Maybe change in some directors will be a good thing.

Hello Mr Kennas,

It may have been one of my biggest blunders, so let's tell the story here and all the trdaadies can have a good laff.
On second thoughts, ... not.

BTW I need a good spillchecker

I like 'em, ... I like 'em a lot!
I gotta a lotta loot from them earlier!
Well, not enough to cover my current position!

Did I just hear a daytrader laff?

If EXMOA goes $0.34 the burglar will be a millionaire and will quit his day job! lol
Re directors, maybe they were the best for that job, maybe the worst, and no way to tell.

Show me the SP in six months time.

Cheers,
burglar

[exberliner1]

I lost a pile on this one as well.

With both option issues and heads I had about 10mn shares at one point.

I sold the OAs at a rather bizarre 90% profit in the middle of the GFC when they went for a brief and unexplained run - the rest however was a disaster.

I liked the management story and believed their estimates especially with regard to the JORC figure. Unfortunately the management were either not telling the true picture or were unable to understand the data.

I dumped when the true gold reserves figure was announced.

I did find a series of better stocks following the sales and made my loss back and more but it does leave a bitter taste that management can get away with impunity with issuing misleading and downright incorrrect information to the ASX for years.

Of course now, given the number of shares in issue the stock is effectively dead unless current holders take a haircut and go for a consolidation issue and new capital is found.

The resigning directors should be investigated by ASIC - in fact the whole management should.

There are much better companies out there than EXM at the moment.

The word .... avoid .... comes to mind.

EB

[kennas]

one of the worse pick in my life. I lost heaps on it, can't hold no longer, just sold today

Hope you didn't sell at the bottom aussie. Can't really go too much lower and probably won't go into administration at this stage. Still money in the bank. They're still hanging their hat on TC too. Historically some great grades, but need to discover some tonnage. If not, looks in real trouble.

[burglar]

Hi eb,

I believe that the missing ore at Juno represents a fraction of missing ozs.
I visualized the fraud squad traipsing through their office collecting
documents not yet shredded, and computers too!
Hence the need to revise JORC and oops ... missing ozs everywhere!

Then directors resign, what would you think?

Alan Bond said, whenever you find something, there's always more nearby.
That's why I stick with these ... for the moment.

burglar

[burglar]

Mr Kennas,
Being self-taught, my mentor also self-taught, I have trouble finding names.
Is this what you meant by averaging down?

03-09-2009 Sell EXM 50,000 0.0140 $682.01
29-05-2009 Sell EXM 87,638 0.0170 $1,471.86
13-05-2009 Buy EXM 87,638 0.0110 $982.01
17-12-2007 Buy EXM 25,000 0.0380 $967.99
10-12-2007 Buy EXM 25,000 0.0430 $1,092.99

Thanks to you, I have found the answer I sought since
22 November 2010, when I accidently fell into ASF.

I am in trouble with EXMOA because the underlying derivative has been
manipulated by forums, newsletters and prominent magazines.
I failed to do stop loss early on.
I missed an early chance to take a profit.
I was greedy and now comes the paying of the piper.

I fear they may now sit on the bottom till they expire worthless.
Or consolidate 1 for every 10 held (or worse) followed by erosion of the Share Price.
Not going there again.
If the buyer of EXMOA at $0.001 is still around, I will shift some today!

You have taught me a valuable lesson. Many thanks.

[burglar]

... Historically some great grades, but need to discover some tonnage. If not, looks in real trouble.

Mr Kennas,

Looks in real trouble IMO
Big seller in both EXM and Options this week.

If only they would publish some good news to stop the sliding SP

Eternal optimist, I'm holding EXM
Still have some EXMOA Options too.

[drillinto]

November 29, 2011

Excalibur Will Shortly Change Its Name To Pendragon, And Unveil New Projects To Develop Alongside The Tennant Creek Flagship
By Our Man in Oz >> www.minesite.com/aus.html (free registration)

The road to Tennant Creek has been a rough one for Excalibur Mining, as the super-rich pods of gold that the company has targeted around the remote town in Australia’s Northern Territory have proved to be painfully elusive. However, undeterred by a near-death experience last year when a large theoretical gold resource shrivelled in the cold light of drilling results and a fresh look at old data, Excalibur is plotting a return - with major changes.

First: a new name, though the Arthurian theme persists. Back into the lake goes Excalibur, and onto the scene comes instead Pendragon, which Round Table officionados will know was the name of King Arthur’s father. The precise details of the emergence of Pendragon are still a well kept secret. But from what Minesite’s Man in Oz has picked up while wandering the back-streets of his home town, Perth, the process will involve a new listing on the Toronto Stock Exchange to complement the quotation on the ASX.



And, as a means of attracting North American interest, it seems a number of fresh gold exploration assets, most probably in the gold-rich Indonesian province of West Papua, which is home to Freeport’s giant Grasberg mine, will be injected into the company.



Excalibur’s executive chairman, Alex Bajada, was keen to talk about the behind the scenes work at the company, but said it was a bit early to discuss the new Pendragon name, or the details of the fresh assets. What he did acknowledge is that a recapitalisation is now well underway, and that a prospectus is currently in the market to raise A$5.9 million via the issue of a wheel-barrow load of 5.9 billion shares at a microscopic one-tenth of a cent. A major consolidation will follow the share issue, leaving a fresh-looking Pendragon with an ASX and TSX listing, up to A$8 million in cash, new Indonesian gold tenements, and another chance to prove that the gold at Tennant Creek is more than a mirage.



The reason Excalibur/Pendragon retains its interest in Tennant Creek is easy to understand, from both a historic and a more recent perspective. In the early life of the company’s plum Tennant Creek assets, Juno and Noble’s Nob, gold was produced by the bucketload (a non-technical term). Officially assays from drilling sometimes yielded more than 100 ounces to the tonne, and in the peak year of 1954 Noble’s Nob produced just 15,534 tonnes of ore for a yield of 47,537 ounces of gold, roughly three ounces to the tonne. After those halcyon days, the entire Tennant Creek goldfield disappeared, shrouded from the view of outside explorers by a blanket ban enforced in the name of Aboriginal land rights.



The modern appeal of Tennant Creek is two-fold. Firstly, other explorers are starting to re-connect with the gold trapped in the complex structures in the region. Secondly, a fresh technical look at the Excalibur tenements has re-kindled enthusiasm, both inside and outside the company.



Not far from Excalibur’s Juno and Noble’s Nob projects, where Excalibur flamed out on its first pass at its attempt to get a mine going, both Emmerson Resources and Westgold Resources are having more success. Emmerson has reported bonanza drill hits at its Goanna project, including 3 metres at 34.1 grams a tonne, and Westgold has reported assays up to nine metres at 12.2 grams per tonne from its Rover project.



The Emmerson and Westgold results have confirmed the prospectivity of the ground at Tennant Creek, and inspired Excalibur and its consultants to return to the scene for a revitalised attack, a step which could finally draw a line under the 2010 disaster, when a theoretical 800,000 ounce gold resource on the Excalibur ground was reduced to just 280,000 ounces by hard-nosed technical analysts.



“We need to finish what we started at Tennant Creek”, Alex said, in reference to the work plan that’s being hatched to go along with the corporate restructure of Excalibur. “We have received the first draft of a positive review of our tenements in the area from experts at SRK Consulting, and while it isn’t ready for release yet, it is likely to recommend a number of steps designed to answer the question about how best to locate economic mineralisation on our tenements.”



The SRK team is being complemented by an expanding group of technical experts inside Excalibur, some with extensive experience with the Canadian gold producer, Kinross. It is their input, alongside that of SRK, which is adding to the confidence of Alex and other Excalibur board members.



For investors and Excalibur’s management, the Tennant Creek saga has been bitter. When the company embarked on its attempt to re-develop a mine in the area, either by re-processing mine waste dumps which reportedly grade up to three grams per tonne, or by mining around and below the historic underground workings, hopes were high and the shares commanded a share price 10-times what they are today, namely A0.002 of a cent.



The next phase in the life of Excalibur will restore interest in the company, especially given its new name, new assets and new technical team. But, one thing that will remain unchanged is the geology of Tennant Creek which is undoubtedly hiding more rich gold pods like those at June and Noble’s Nob. It’ll be interesting to see what happens next.

;;;;;;;;;;;;;;;;;;;;;;;;;

[TMC93]

Great post, had this one on the watchlist and didnt buy which was a good thing in hindsight, these new announcements have sparked some interest so will have to look into this company again. Price is attractive at one tenth of a cent for any company but there is probably a reason they are so cheap

[burglar]

Price is attractive at one tenth of a cent for any company but there is probably a reason they are so cheap

Yes, on both counts.

Price is attractive! One Director is buying at $0.001
Probably a reason they are so cheap: A gold explorer without funds.

"Drilling Update"

http://www.asx.com.au/asx/statistics...idsId=01309440

[kennas]

Yes, on both counts.

Price is attractive! One Director is buying at $0.001
Probably a reason they are so cheap: A gold explorer "Drilling

http://www.asx.com.au/asx/statistics...idsId=01309440

You still persisting with this woofer burger? I thought they had died due to a lack of gold in those holes.

[burglar]

You still persisting with this woofer burger? I thought they had died due to a lack of gold in those holes.

Hi Mr kennas,

Not so much persisting ... the reality is I'm stuck with a few.

I still believe there is gold nearby...
... just don't know if this outfit is capable of delivering same.

[sparkvale2]

Whats going on with this old dog?

http://imagesignal.comsec.com.au/doc...RlbGF5ZWQuanNw

[TMC93]

Pure speculation and probably not much else, i don't think many (if any) traders see value in this stock only the chance to gamble on a multi bagger.

[burglar]

You still persisting with this woofer burger? I thought they had died due to a lack of gold in those holes.

No longer persisting with EXMOA, ...
They expired, worthless, today.



Cheeky buggers actually sent correspondence,
explaining how to exercise them!!

[kennas]

No longer persisting with EXMOA, ...
They expired, worthless, today.



Cheeky buggers actually sent correspondence,
explaining how to exercise them!!

So still holding some ordinary shares, I assume? Are they still actually drilling? What happened to the July holes?

Fingers crossed 2013 is a great one for EXM, burgs.

[burglar]

So still holding some ordinary shares, I assume? Are they still actually drilling? What happened to the July holes?

July holes?
African Gold mine?

No idea and don't much care!

Fingers crossed 2013 is a great one for EXM, burgs.

I lost plenty, I learned a lot.
Clawing it back a cent at a time!
I have little interest in EXM now.

[burglar]

... African Gold mine? ...

Kiss of death: 1 for every 100 held.
New issue at 10 cents to raise $30Mill.

http://www.asx.com.au/asxpdf/2013031...tf7561dnwq.pdf

[burglar]

Kiss of death: 1 for every 100 held.
New issue at 10 cents to raise $30Mill.

Correction: New issue to raise $3Mill.