Most of us are aware of intense drilling activity in the Timmins region which has led to long delays at the few labs assaying core samples. So, despite a number of promises from the lab, we continue to wait for potential VMS drill results from the Company's 1,400meter (4,592ft) drilling on the northern edge of the Glencore Kidd mine. A new video interview is being prepared for international distribution by the Company, and most specifically, the Chinese mainland market.
It's been difficult for most of us to understand why Teck Resources is moving so slowly at the Company's TPW GOLD deposit, where the Hollinger-McIntyre geologic model clearly shows 25-30million ounces of GOLD in the ground. To date, they have spent $3million verifying all of Explor's findings at the site. Taking a longer-term view, I think it would be reasonable to suggest we are about to experience a major BULL market in GOLD. The major, and intermediate, producers all have aggressive production plans in the Timmins Camp. They all know one another, and I contend, have been colluding with one another, to capture, and integrate, all promising GOLD assets into their portfolios. The TPW is within a couple of hundred meters of Tahoe Resources to the west. A number of their Directors were Directors of Goldcorp, whose major regional operations lie close to the TPW to the east.
Apparently, Goldcorp has launched a $2billion, 50,000 ton a day mill development in the Timmins area. My sources tell me 'sterilization drilling' is underway close to Goldcorp's old mill at their Dome Pit. Basically, they are hoping GOLD values are uneconomic, and the new mill won't be built on the motherlode. Further, I'm hearing a variety of engineering firms, and a variety of contractors are setting up shop in Timmins preparing bids on various tenders put out by Goldcorp in conjunction with the new mill. The city is so busy with new faces, long lineups are becoming commonplace at local restaurants, for example. With reference to an interview with Goldcorp by www.metalsnews.com, the Chief Operating Officer (COO) spoke about Goldcorp's 20/20/20 five-year plan. That's a 20% increase in production; a 20% increase in reserves and a 20% decrease in operating costs.
If they are true to their word, 50,000 tons of daily feed for the new mill must come from local sources to tie in to a 20% drop in operating costs, wouldn't it?
It makes sense to believe Goldcorp, Tahoe & Teck may have had a number of discussions about the acquisition of the TPW. Teck can own 70% of the GOLD deposit for a further cash payment of CDN$9million, to fully exercise their Earn-In Option with EXS/EXSFF/E1H1. It's common knowledge that Explor owns the largest porphyry associated with GOLD mineralisation ever found along the Porcupine-Destor Fault Zone (PDFZ). It lies within the TPW property, and, only the southern part of the porphyry has seen extensive drilling. The current known deposit is 2000meters long, open at both ends, & open at depth. Further, it sits very close to a new proposed mining roadway, and, within a few kilometers from the new mill. I know the Big Boys well. Goldcorp and/or Tahoe wouldn't want 70%. They want it all, but want to avoid Dupont's $300million pricetag for the remaining 30%. Is it really so hard to believe a consortium with the power that these three wield might be playing self serving games in the EXS/EXSFF/E1H1 markets? Please stay stubborn, and hold your position. I truly believe a wild ride is coming for anyone holding EXS/EXSFF/E1H1. Given what I think is coming, anyone selling their Explor stock may be leaving a LOT of money on the table…
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.
Explor Resources Flagship project is the Timmins Porcupine West (TPW) Project located in the Porcupine mining camp, in the Province of Ontario. Teck Resources Ltd. (NYSE:TECK) is currently conducting an exploration program as part of an earn-in on the TPW property.
Explor Resources (CVE:EXS) Closed a Second Tranche of a Private Placement of Unsecured Convertible Debentures
Explor Resources (CVE:EXS) Closed a First Tranche of a Private Placement of Unsecured Convertible Debentures
Explor Resources (CVE:EXS) Closes a First Tranche of a Maximum of $1 Million Private Placement in Flow-Through Shares