Baffled..
Rouyn-Noranda, Sep 7, 2017 AEST (ABN Newswire) - I'm just baffled by the recent trading activity in Explor Resources Inc. (
CVE:EXS) (E1H1:FRA) (EXSFF:OTCMKTS). Gold is in the USD$1,330 range, and Copper USD$3.11. Those prices, when considered in relation to the Timmins Porcupine Gold Deposit, and the Chester Copper Deposit in New Brunswick, should easily suggest a minimum $30-40million Market Cap.
Divide by 160 million shares, and the stock price even on those minimums is in a range of .18-.25CDN. Obviously, the numbers are not exact, but you get my point.
So, is it really shareholders driving the price backwards every time we brush double digits? Or, is something else going on? I've contended on a number of occasions that Explor, with its impressive array of promising gold exploration properties along the Porcupine Destor Fault, and in the Duparquet gold Camp, would be an outstanding takeover target? When I see the clever use of 'Dark Market' trading platforms regularly hiding trades from the retail buyers' eyes, it suggests, & promotes weakness in the stock.
Ultimately, when the culprits make their offer to the board at say .25/share, the vast collective shareholder base might be likely to take it. As gold moves into $1,400, & beyond, EXS/EXSFF/E1H1 will see $2-$3.00. I believe that's inevitable.
Apparently, drilling at East Bay will commence shortly. Geologists are in the process of finalizing the geochemistry, and geophysics associated with potential targets, and crew & equipment are being mobilized. Further, the M&A group are hard at work, and I expect they will be presenting some interesting proposals during the coming weeks.
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.
