Evening all.Although the report gives a target valuation of 82c...

Evening all.

Although the report gives a target valuation of 82c down from $1.12, that target must now be greatly de-risked as over 60c of it will be in the form of cash not assets to be developed and requiring significant cap-ex.

My guess is that it has gone from a possible target of $1.12 to a probably target of 82c.

In addition to that the tax benefit of the special franked dividend will be of value to many organisations, and I'm not sure if that extra tax value has been factored into the target of 82c. (observations anyone?)

Today's trading seemed much more positive, and was the first day since this little sell down, that we didn't finish down; the next asks are 43k at 64c, and over half of those could get pulled before trading opens. (I know that because 25k are mine).

Still doesn't confirm to me that IVA won't make a bid of some kind for EXS or even the Cloncurry Copper Project, considering the clear arbitrage and the fact that they have complementary business operations in the region.

It is quite a comprehensive but also easy-to-read report -thanks for sharing noellyn I notice its in company anns, dated today. hermie, good effort doing that work and sharing anyway -no doubt will have helped your insight into EXS.


...just my take.



John S.