Always Moving Forward...
Rouyn-Noranda, Aug 28, 2017 AEST (ABN Newswire) - 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 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 its 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 20-30 million 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 5-10,000 meter 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 Camp, holding some 11,000 hectares. 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 3,000 meters 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.
NOTE: This forum commentary was published from a third party source. It has not been verified by the company.
About Explor Resources Inc.
Explor Resources Inc. (CVE:EXS) (OTCMKTS:EXSFF) (FRA:E1H1) is a Canadian-based natural resources company with mineral holdings in Ontario, Quebec, Saskatchewan and New Brunswick. Explor is currently focused on exploration in the Abitibi Greenstone Belt. The belt is found in both provinces of Ontario and Quebec with approximately 33% in Ontario and 67% in Quebec. The Belt has produced in excess of 180,000,000 ounces of gold and 450,000,000 tonnes of cu-zn ore over the last 100 years. The Corporation was continued under the laws of Alberta in 1986 and has had its main office in Quebec since 2006.
