EXSFF...There’s an old expression in the mining
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Posted On: 02/22/2016 9:14:59 AM
EXSFF...There’s an old expression in the mining sector “A great rumour is better than 10 good drill holes”. Explor has recently been the subject of a number of juicy rumblings sparking some enthusiastic buying, especially on the TSX Venture Exchange. Before I get into those, a thought or two on the market. Having closed the session Friday at .21, it warms my heart that a continuous stream of new buyers are sharing in our dream. On the US OTC market (EXSFF), Fidelity, the US ‘Market Maker’, has NO stock in supply. Every time a new buyer puts in an order on the US board, they have to buy that stock on the TSX Venture Exchange to complete the transaction. We saw Fidelity bidding for 175,000 shares at .19, eventually buying stock at .19-.20 on Friday. As more US buyers recognize the profit potential of Explor Resources, the US buying factor can only elevate the current stock price, leaving .21 in the dust!
Will Tahoe be in touch?? The first question should be ‘Will the Lake Shore Gold/Tahoe deal complete?’ If you go to the Lake Shore bull board, you’ll see page after page of dissenting shareholders’ comments, condemning the deal in every respect. For the ‘deal’ to consummate, a two thirds majority is required at a Special Meeting of Shareholders. Now, take a look at the trading activity in LSG since Febuary 5th. Where they had been averaging +/- 4million shares a day, volumes went ballistic, now averaging over 20million shares a day over the past ten days. I think Tahoe, and Lake Shore shareholders in favour of the merger, are doing all they can to stack the vote to ensure the deal completes.
Assuming it does, so what?? The merger/takeover announcement overshadowed the release of LSG’s ‘Gap144’ 43-101 Resource Report, showing an Indicated & Inferred Resource of 621,000 Ounces of gold. Additional drilling, subsequent to the report, is averaging over 5 grams per ton! At a distance of less than one kilometer from the SW ‘open’ end of Explor’s TPW deposit, on the identical geologic structure, do you think Tahoe might want the Timmins Porcupine West property?? I’m thinking Teck will fully exercise their 70% option by paying EXS/EXSFF $12million, less what they spent on exploration. At that point, either they JV with Tahoe, or sell their 70% stake in the TPW outright to Tahoe? Of course, as suggested many, many times on this bull board, Explor’s remaining 30% stake is then in serious play!! With all the key corporate officials of Teck, Tahoe, Goldcorp, et al, congregating during the PDAC event in Toronto March 6-9 inclusive, what better time to initiate negotiations with Explor?
The other thing I’m getting really excited about is what’s going on at the Glencore Kidd mine. It is rumoured they discovered base metals values more than similar to the deposit mined since 1966, but put a halt to extraction from that section for possible encroachment. The question of encroachment onto Explor’s property adjacent to the mine remains unanswered. With a drilling permit forthcoming, and a deep drilling rig ready to roll, it won’t remain unanswered for much longer. I suspect Glencore officials will be attending the PDAC as well??
Will Tahoe be in touch?? The first question should be ‘Will the Lake Shore Gold/Tahoe deal complete?’ If you go to the Lake Shore bull board, you’ll see page after page of dissenting shareholders’ comments, condemning the deal in every respect. For the ‘deal’ to consummate, a two thirds majority is required at a Special Meeting of Shareholders. Now, take a look at the trading activity in LSG since Febuary 5th. Where they had been averaging +/- 4million shares a day, volumes went ballistic, now averaging over 20million shares a day over the past ten days. I think Tahoe, and Lake Shore shareholders in favour of the merger, are doing all they can to stack the vote to ensure the deal completes.
Assuming it does, so what?? The merger/takeover announcement overshadowed the release of LSG’s ‘Gap144’ 43-101 Resource Report, showing an Indicated & Inferred Resource of 621,000 Ounces of gold. Additional drilling, subsequent to the report, is averaging over 5 grams per ton! At a distance of less than one kilometer from the SW ‘open’ end of Explor’s TPW deposit, on the identical geologic structure, do you think Tahoe might want the Timmins Porcupine West property?? I’m thinking Teck will fully exercise their 70% option by paying EXS/EXSFF $12million, less what they spent on exploration. At that point, either they JV with Tahoe, or sell their 70% stake in the TPW outright to Tahoe? Of course, as suggested many, many times on this bull board, Explor’s remaining 30% stake is then in serious play!! With all the key corporate officials of Teck, Tahoe, Goldcorp, et al, congregating during the PDAC event in Toronto March 6-9 inclusive, what better time to initiate negotiations with Explor?
The other thing I’m getting really excited about is what’s going on at the Glencore Kidd mine. It is rumoured they discovered base metals values more than similar to the deposit mined since 1966, but put a halt to extraction from that section for possible encroachment. The question of encroachment onto Explor’s property adjacent to the mine remains unanswered. With a drilling permit forthcoming, and a deep drilling rig ready to roll, it won’t remain unanswered for much longer. I suspect Glencore officials will be attending the PDAC as well??
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