my theory, page-7

I cracked and sold out of Exco on the final day.
I will probably live to regret this decision but my sentiment was as follows:

1/ Exco is a super little company but probably now has too many shares on issue.
2/ Exco has lost the dynamics to ever become a major player as it has, and always will be, bled of its true potential by IVA and possibly SOL, to realize its best for shareholders.
3/ Whatever Exco discovers will be on-sold at much devalued prices and inhibits Exco's ability to grow.
4/ Currently Exco has less than 15 cents cash per share in the bank, nominal, but useful royalties coming in to defray exploration expenditures, an albeit exhausted gold project (White Dam) plus Mt. Colin (maybe a dismal 7 cents per share if a buyer can ever be found in this daunting economic environment) and nothing much else at present.
5/ I believe the current market sentiment price for Exco now to equate to below 20 cents near term, longer term maybe even below 10 cents, until such time as the company proves up yet another significant resource and on-sells it to a big player just like before.
6/ The old saying that lightning never strikes twice in the same place may well be applicable to Exco, which, now devoid of its guru MD, retreats once again to the status of yet another hopeful in a promising area of the world.

I am happy to be proven wrong in my assessment of the company at this time as I am content with having made a small fortune from taking profits on the best part of one million shares today and I wish all current shareholders all the best for the new pricing scenario next week.
My sentiment was that it was best to take a guaranteed handsome profit in thse perilous economic times and pause for a while, with a vague mindset of reinvesting if the Exco price sooner or later drops to my expected level.
For me, Exco has been a wonderful investment, but the company now seems to face a challenging future and there is nothing compelling to recommend it at present, bar perhaps the vague possibility of a takeover offer from SOL or IVA.
I will watch the stock closely and wish all holders the best of luck and I hope to rejoin you if my expectations come to fruition.