$EXS...TORONTO TRIP...I spoke with Dupont at lengths yesterday morning. He was about to leave for Montreal when I caught up with him. He’s been in Toronto since last Saturday, & basically tied up since then meeting with, in his words, ‘a variety of groups, & individuals’. Other than displaying his usual enthusiastic optimism, he would not provide me any details of any of the meetings he attended. However, he did indicate that every property on Explor’s books is for sale, at the right price. I found that a very interesting unsolicited comment. So, speculating for a moment, did Dupont meet with Tahoe, or Goldcorp in regards to the Timmins Porcupine West GOLD Resource, and/or the Ogden properties? Or, did he meet with Kirkland Lake in regards to the PG-101 properties? Did he meet with Osisko, or McEwen? All of those outfits would have a keen interest in many of Explor’s properties. Some may recall the spectacular drill results at the company’s Eastford Lake property a few years back, which blew the stock into $1.00 plus territory on the news. Maybe we have a potential buyer for that property block? Ultimately, the main purpose of his trip is to fund a $1million fall drilling campaign at the TPW, and fund a $1million fall drilling campaign at the Chester Copper property in New Brunswick. Any property sale, or Earn-In Agreement, could easily achieve those objectives.
Speculating some more, it strikes me as somewhat odd that the fully funded 3,000meter drilling campaign at East Bay still hasn’t started. Last time Dupont & I spoke about that, he seemed to be very anxious to get the program underway. I’ve heard the geologists have completed their work relative to the site, and I know for a certainty, mobilization of crew & equipment wouldn’t take but a few minutes. So, what’s changed? Did he meet with IAMGOLD, bringing new considerations into that objective?
All the large, & intermediate GOLD producers in the Timmins, & Duparquet Camps are actively seeking out sensible, & ultimately profitable property acquisitions to ensure feed for their hungry mills. With GOLD holding around $1,300, and our variety of GOLD & Base Metal properties, are my speculations really that much of a stretch?
Lastly, office staff are busy with quarterly results, & an updated Management Discussion & Analysis (MD&A) should be available in the near future.
