Agoracom: Small Cap Investment - Inspiration Mining - Re: Exeter and Extorre....spin out reference

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The company is exploring for nickel deposits on its Langmuir property near Timmins, Ontario; for nickel-gold-copper on its Cleaver and Douglas properties; and for molybdenum and rare earth elements at recently acquired Desrosiers property.

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Exeter and Extorre....spin out reference

whaler

Apr 16, 2010 10:40AM

Re: Exeter and Extorre....spin out reference

whaler

Apr 16, 2010 10:48AM

Re: Exeter and Extorre....spin out reference

whaler

Apr 20, 2010 12:54PM

wildcatter

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Re: Exeter and Extorre....spin out reference

in response to

Re: Exeter and Extorre....spin out reference

whaler

posted on Apr 22, 2010 12:04PM

Reviewing the spin-out reference is kind of a good news/bad news situation.

THE GOOD NEWS

Prior to the initial announcement in January, Exeter(XRC on TSX) was trading at about $7.50 per share and has a 52 week high of $9.32. The spin-out of one share of Extorre(XG on TSX)for each share of Exeter was finalized in March and the two started trading as separate companies about March 23. Today XRC is trading at $7.47 and XG is trading at $2.74 for a total of $10.21.

THE BAD NEWS

I reviewed all the NR's from Exeter from the initial to the final announcement. That includes a couple of updates and the notice of the special meeting for shareholder approval. WARNING; ISM shareholders should take their anti-nausea medicine before attempting to read all of that. The comparison of the Exeter effort to the ISM effort is sickening.

I'm convinced the spin-out is the way to go. The Exeter template shows how to do it right.