all this for just one cent, page-15

sorry asf, but that is absolute nonsense reasoning.

You are basically saying it is a disadvantage to have cash.

The EV (enterprise value) of a company is the market cap of a company plus its debts. You then take cash on hand away from this balance to arrive at the EV. EXS actually have an EV of zero at the moment.

If EXS's tenements were spun-off in an entity with no cash, they would have a value. This is no different than many exploration stocks on the market.

That value needs to be added to the cash balance to arrive at the true market value.

EXS do not have a history of throwing cash away.