$EXSFF...WHY EXPLOR? Most of us are aware of Tahoe Resources’ very serious problems at their massive Escobal silver mine in Guatemala. Beginning in June, local protesters initially blocked access to the silver deposit, and over the past couple of months, gained the support of the courts to shut down operations. With no solution in sight, the future of the mine appears quite grim. Tahoe’s stock price closed August 25th at CDN$5.58, down over 50% since mid June. Tahoe’s situation speaks volumes to Dupont’s focus in politically stable Canada. All of Explor Resources(EXS/EXSFF/E1H1) exploration assets are focussed in Ontario, Quebec, and New Brunswick. Tahoe is rumoured to be one of the serious suitors interested in Explor Resources Timmins Porcupine West GOLD Deposit (TPW), especially given the resource is adjacent to their Gap 144 GOLD Resource. With pressure from their shareholders, I would think the Tahoe directors would want to put out some GOOD news? As an unhappy Tahoe shareholder, acquisition of the largest porphyry ever found in the Timmins Porcupine Destor Fault, with an HMC Model suggesting 20-30million ounces of GOLD, would make me a lot happier! With the added scramble for regional GOLD assets by Goldcorp, Kirkland Lake, and more recently, McEwen, I suggest the proposed 5-10,000meter drilling campaign slated for this fall at the TPW, may, in fact, be financed by others. I suspect proposals are being prepared for Dupont, and the Board to consider?
Dupont is in Val d’Or, Quebec this week, meeting with the geologists that performed the preliminary work on the company’s East Bay GOLD property block. Explor is the single largest property holder in the Duparquet GOLD Camp, holding some 11,000hectares. IAMGOLD is the second largest in the region. Apparently, following a meticulous geophysics program, some 80 grab samples were sent to a lab in Val d’Or for multiple element testing. Dupont is undoubtedly hopeful the results will be available, as they are a meaningful component in deciding where to drill the 3,000meters proposed on East Bay. I’m also hearing he will be in Timmins for a number of meetings during the week. I know some of Explor’s largest shareholders are anxious to hear from him personally about plans moving forward. I’m guessing he may be meeting with the odd TPW suitor as well?
Lastly, I’m hearing an influential M&A group is developing a comprehensive presentation on Explor to present to prospective financiers; possible Joint Venture Partners; and serious mineral property buyers. Well experienced in the field, I’m expecting some interesting developments from them over the next couple of months.
Dupont is in Val d’Or, Quebec this week, meeting with the geologists that performed the preliminary work on the company’s East Bay GOLD property block. Explor is the single largest property holder in the Duparquet GOLD Camp, holding some 11,000hectares. IAMGOLD is the second largest in the region. Apparently, following a meticulous geophysics program, some 80 grab samples were sent to a lab in Val d’Or for multiple element testing. Dupont is undoubtedly hopeful the results will be available, as they are a meaningful component in deciding where to drill the 3,000meters proposed on East Bay. I’m also hearing he will be in Timmins for a number of meetings during the week. I know some of Explor’s largest shareholders are anxious to hear from him personally about plans moving forward. I’m guessing he may be meeting with the odd TPW suitor as well?
Lastly, I’m hearing an influential M&A group is developing a comprehensive presentation on Explor to present to prospective financiers; possible Joint Venture Partners; and serious mineral property buyers. Well experienced in the field, I’m expecting some interesting developments from them over the next couple of months.
