$EXSFF...TIMMINS MEETINGS? Very nice to see GOLD trading a bit stronger to start the week. Optimistically, the upward trend will continue. The sad reality is the paper market will continue to dictate the price of the commodity, regardless of a diminishing supply, and growing demand in the physical GOLD market. I’m seeing growing opinion amongst the experts I follow that a correction in both the S&P, and Dow is on the horizon. Some are suggesting this will happen as early as 4-6 weeks, and are recommending liquidation, and profit taking over the next 2-3 weeks. That sort of financial event, although brutal for most, is usually good for GOLD. And, its generally good for any equity with GOLD.
Given that back drop, I’m hearing some interesting rumours about Dupont’s trip to Timmins last week. Apparently, he was seen in the company of some of the biggest neighbours the Timmins Porcupine West GOLD Deposit has! I also heard he met with at least five separate groups! The rumours are unsubstantiated, so the names of the companies Dupont met with would be just guesses on my part. The point is, our President & CEO appears to be actively searching for a partner, or buyer, for the TPW. I suspect these meetings in Timmins may be follow ups to Dupont’s mystery trips to Toronto last month? All the intermediate, or senior GOLD producers operating in the Porcupine Destor Fault Zone, are publicly traded companies. As such, they all have a mandate to increase shareholder value, and ensure a continuous flow of proven up feed material to their mills. Given the proximity of the TPW GOLD Deposit to most of them, its conceivable we could have a number of bids for the property, especially once the assays are released on the 3,000meter drill program completed late last month. Once those assay results are incorporated into the Hollinger-McIntyre modelling system, and the 43-101 upgrade completed, we should have a GOLD Deposit worthy of a very serious look by all the majors, & intermediates. As I’ve indicated in the past, the TPW has a 2,000meter Strike Length, open at both ends, and open at depth. I think those facts will play heavily in the ‘Deposit Potential’ thinking of any prospective bidder. I also don’t think we’ll be waiting very long for proposals, given the number of ‘groups’ involved. I’ll keep my ear to the ground, and report as I hear anything further.
