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McCoach recommended video on Hecla Mine:
Greg McCoach recommended junior explorer investors watch this youtube video about Hecla Mine from discovery to producer. I have not watched it (blocked at work). Here is the link:
Not the NI43-101 but other news...
Just posted on newswire:
11:17 AM ET | Marketwire
Explor to Begin 10,000 Meter Diamond Drill Program on Timmins Porcupine West Property
January 10, 2013 11:17 AM ET
Explor Resources Inc. (TSX VENTURE:EXS)(OTCQX:EXSFF)(FRANKFURT:E1H)(BERLIN:E1H) is pleased to announce the beginning of a 10,000 meter drilling program on the Timmins Porcupine West Property. The recently completed diamond drilling programs have successfully confirmed the model and the gold bearing mineralized structure for more than 2000 meters of strike length at a vertical depth from 600 to 900 meters. It is currently open on strike and at depth. The first five phases of drilling (106,000 meters) were concentrated on the "A" Zone gold mineralization located on the south limb of the geo-syncline. The "A" Zone mineralization is one of five (5) mineralized zones identified on the property.
This 6th phase of diamond drilling will be designed to test and to expand the known near surface gold mineralization in order to determine the open pit resource potential of the property. The results from this new phase of drilling will be integrated into the model and drill hole locations will be determined to maximize the geological information that will be imputed into the 3-D Gemcom model. The "A" Zone identified through modelling strikes east northeast and dips to the north at 70 to 80 degrees. The drilling has confirmed the association of gold mineralization with Quartz feldspar (QFP) and syenite porphyry, found at the Lakeshore West Timmins Properties. The 3-D geological model may be viewed on our website: www.explorresources.com.
Chris Dupont, President and Chief Executive Officer of Explor Resources Inc. commented: "With this 6th phase of diamond drilling, we expect to continue to report excellent drill results. We expect the continuity of the mineralization from hole to hole as well as the grade encountered to date to continue as we expand the known resource. We expect the near the surface mineralization encountered to be significant in terms of establishing a potentially large mineable gold resource. This will complement the existing resource."
Explor is focused on developing a mineable resource based on the drill results that have been obtained to date. An updated NI 43-101 technical report will be completed by MRB Associates of Val-d'Or, Quebec and P & E Mining Consultants of Brampton, Ontario in the coming weeks.
The Timmins Porcupine West Gold Property consists of 185 unpatented mining units and 3 patented claims located in the Bristol and Ogden Townships in the Timmins-Porcupine Mining Camp for a total 3,200 hectares. The property is contiguous with Lakeshore Gold West Timmins Mine. The highway 101 bisects the property and provides access from the city of Timmins located 13 km to the east.
The property has been explored since 1927 by numerous ground geophysical surveys and diamond drilling of up to 111 holes. In 1984, Dome Exploration discovered and delineated a gold mineralized zone that is approximately 350 meters long and 45 meters wide and is open below 350 meters of vertical depth.
The Timmins Porcupine West Project has as a Target Model "The Hollinger-McIntyre-Coniaurum System." The Hollinger-McIntyre-Coniaurum (HMC) System has produced a total of over 30 million oz of gold is spatially associated with the Pearl Lake Porphyry. The high-grade gold bearing quartz veins which hosted the bulk of the gold at the HMC occurred in the adjacent mafic volcanics, located outboard from the porphyry itself.
Chris Dupont P.Eng is the qualified person responsible for the technical information contained in this release.
Explor Resources Inc. is a publicly listed company trading on the TSX Venture (EXS), on the OTCQX (EXSFF) and on the Frankfurt and Berlin Stock Exchanges (E1H).
This press release was prepared by Explor Resources Inc. Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the Policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
Tomexs
McCoach has posted January newsletter.
Basically said Explore was a hold. That CD needed to improve management team to help investors believe the story.
Tomexs
Shareholder Meeting 12-18-12............
The annual shareholder meeting is being held on Dec. 18th in Quebec. Discussion on venue??? I received my mailed proxy info. yesterday.
Tomexs
New releasSeptember 26, 2012 12:43 ET
Explor Intersects North Limb of Syncline on Timmins Porcupine West
ROUYN-NORANDA, CANADA--(Marketwire - Sept. 26, 2012) - Explor Resources Inc. (TSX VENTURE:EXS)(OTCQX:EXSFF)(FRANKFURT:E1H) is pleased to announce the completion of the Stratigraphic Diamond Drill Hole (Press Release April 17, 2012) as shown on the attached sectional plan and the analysis of the drill results on the North Limb of the Timmins Porcupine West Property, ("TPW Property"). The results of 3 drill holes, Holes #12-67, 12-67A, and 12-67B are reported in this press release.
Chris Dupont, President and Chief Executive Officer of Explor Resources Inc. commented: "We are extremely pleased and encouraged by the geology and structure encountered in the drill holes. The lower grades encountered on the North Limb near surface mimics the lower grades encountered on the South Limb near surface by Explor and the previous operators of the property. The intersection of the North Limb fault as well as the other faults encountered provides the necessary conduits for transport of gold mineralization."
Hole #TPW-12-67 was collared at an azimuth of 210 degrees and a dip of -85 degrees in order to achieve a down hole azimuth of 180 degrees because of the schistosity of the rock. The hole was designed as a stratigraphic hole to prove the concept of a synclinal structure similar to that of the Hollinger-McIntyre model. A major fault structure was intersected at approximately 174 m down hole. All efforts to pass through failed and the hole was abandoned. Hole #TPW-12-67A was collared at the same location with an azimuth of 240 degrees and a dip of -85 degrees. A major fault structure was intersected at 456 m down hole. All efforts to pass through failed and the hole was abandoned. Hole #TPW-12-67B was collared 26 meters north of TPW-12-67 at an Azimuth of 250 degrees and a dip of -80 degrees. Several faults were encountered during drilling, some with rubble, some with sand and water. Drilling of this hole was very difficult and special muds and cement were used to past through these zones. This hole was drilled successfully to 2403 meters and then abandoned.
Government geological maps and previous diamond drilling on the property suggest that the central part of the TPW Property is underlain predominantly by sericite and silica altered Quartz-Feldspar Porphyry ("QFP") which in turn is intruded by altered syenite. As well, previous drilling has shown that the QFP is bounded to the north and south by Porcupine Group of metasediments. Structurally, it has been proposed that the property is underlain by a synclinal feature similar to that of the Hollinger-McIntyre Mine.
Structurally, diamond drilling has shown that the central part of the property is crossed by an almost E-W trending (splay) fault off the Porcupine-Destor Fault Zone, ("PDFZ"). As well, several drill holes directly north of the QFP contact with the metasediments show that the area is crossed by several parallel to en-echelon splay faults. Deep holes and wedges in the western part of the property within the metasediment package show that several parallel to sub-parallel faults occur to the south of the QFP as well.
Geological and structural interpretation by A.S. Horvath Engineering determined that the property is underlain by an east plunging syncline with the central core being composed by a QFP. The interpretation also determined that the north and south limbs of the syncline are underlain by metasediments and mafic volcanics of the Tisdale Group of Rocks. The contact between the altered central QFP and the bounding metasediments and mafic volcanics were determined to be proximal to E-W trending and 070 degree splay faults from the PDFZ.
Hole TPW-12-67B was drilled at a 250 degree azimuth to compensate for the intense schistosity and was designed to drill at 180 degrees after exiting the deformation zone approximately 400 meters to the south. The 2403 meter hole was designed to intersect all components of the synclinal model. In fact, Hole TPW-12-67B was successful in intercepting all lithologies and structure as interpreted in the Gemcom geo-statistical model by Horvath.
From north to south, the lithologies encountered in TPW-12-67B were as follows: interbedded metasediments with lesser mafic volcanics were intercepted from 37.7m (bedrock) to 218m. This area represents the northern bounded metasediment package directly south of the mafic volcanics. Farther down hole to the south from 218m to 592 meters a package of interbedded metasediments and QFP was intersected. This zone is most likely a transition zone between the northern boundary metasediments and the altered QFP core. From 592 meters to 1869m, the core QFP was intersected with local abundant sericite, silica and syenite alteration. Finally, from 1869m to 2403 meters the southern bounded metasedimentary package of greywacke and argillite were intercepted after exiting the core QFP to the south.
In conclusion, from north to south, the interception of the metasediment package, the core altered QFP and then again the south bounded metasediments clearly shows that TPW-12-67B was successful in identifying the components of the proposed synclinal structure as determined through previous drilling. It should be noted that the grades encountered near surface on the North Limb of the Syncline mimic the grades encountered on the South Limb near surface.
As well, the identification of several intense shears, faults and slips proximal to the contact of the 3 lithological zones shores up the model developed for the TPW Property suggesting the presence of a north limb, central fault and south limb of the proposed synclinal structure.
The mineralization on the south limb strikes east northeast and dips to the north at 70 to 80 degrees. The drilling confirms the association of gold mineralization with Quartz feldspar (QFP) and syenite porphyry, found at both the Lakeshore and West Timmins Properties. The larger zones of mineralization display a strong spatial relationship with proximity to syenite intrusive rocks and high Fe-tholeitic volcanic rocks. The 3D Geological Model may be viewed on our website: www.explorresources.com.
Explor is focused on developing a mineable resource based on the drill results that have been obtained to date. The NI 43-101 technical report has been completed by MRB Associates of Val-d'Or, Quebec and P & E Mining Consultants of Brampton, Ontario (Press Releases dated December 05, 2011 and June 06, 2012). This fall, Explor expects to release a new NI-43-101 technical report that will significantly increase the known resource.
Hole # From To Interval Gold
(m) (m) (m) (ft) (g/tonne) (oz/ton)
Hole #67 No Significant Values Hole Abandoned
Hole #67A 122.0 123.0 1.00 3.28 1.465 0.043
311.5 313.5 2.00 6.56 1.288 0.038
328.5 333.5 5.00 16.4 2.632 0.077
427.5 429.0 1.50 4.92 2.346 0.068
Hole #67B 69.0 70.5 1.50 4.92 5.830 0.170
The NI 43-101 technical report is available on SEDAR and on the Company Website. The results of Explor's drilling have been incorporated into the Timmins Porcupine West Exploration Video which is available for viewing on the website. The Timmins Porcupine West Project has as a Target Model "The Hollinger-McIntyre-Coniaurum System." To date, Explor's drill program has confirmed the idealised Hollinger-McIntyre-Coniaurum (HMC) isometric model. The HMC system has produced a total of over 30 million oz of gold and is spatially associated with the Pearl Lake Porphyry.
The Timmins Porcupine West Gold Property consists of 185 unpatented mining units and 3 patented claims located in the Bristol and Ogden Townships in the Timmins-Porcupine Mining Camp for a total 3,200 hectares. The property is contiguous with Lakeshore Gold West Timmins Mine. Highway 101 bisects the property and provides access from the city of Timmins located 13 km to the east.
Chris Dupont P.Eng is the qualified person responsible for the information contained in this release.
Explor Resources Inc. is a publicly listed company trading on the TSX Venture (EXS), on the OTCQX (EXSFF) and on the Frankfurt and Berlin Stock Exchanges (E1H).
This press release was prepared by Explor Resources Inc. Neither the TSX Venture Exchange Inc nor its Regulation Services Provider (as that term is defined in the Policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
About Explor Resources Inc.
Explor Resources Inc. 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 Company 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. The TPW mineral resource includes: indicated: 212,800 ounces of gold (1,371,000 tonnes at 4.83 g/t Au) and inferred: 814,800 ounces of gold (7,122,000 tonnes at 3.56 g/t Au (Press Release dated June 06, 2012).
This document may contain forward-looking statements relating to Explor's operations or to the environment in which it operates. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and may be beyond Explor's control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth in other public filling. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not placed on such forward-looking statements. Explor disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.
An map is available at the following address: http://media3.marketwire.com/docs/explor0926.pdf
TOMEXS
My free MDO email this AM......
UPDATE - MONDAY, SEPT. 24, 2012.... At the present time, our buy rating on Explor Resources is mainly do to the stock's improving technicals. As I pointed out last Friday, after trending down for the last two years, Explor finally seems to have come off life support by closing above its 50-Day Moving Average. The next logical step within our technical analysis calls for EXS to close above its 200-Day Moving Average. Assuming we get a close above the 200-DMA, this will hopefully help take us up to the $.60 level. If we are able to clear resistance in the $.50's and $.60's, then we should head to the $1.00 level.
With the technical analysis explained, make no mistake that it is still our absolute opinion that this company will never recognize its full potential for all of its shareholders unless a corporate governance is put in place, including a new and separate Chief Operating Officer - a well known name within the mining industry that would turn heads. We still maintain that Chris Dupont needs help to unlock the potential of "the largest gold discovery in Canadian history." He cannot do it all himself. Until he recognizes this and surrounds himself with a new Board of Directors, this stock will never progress beyond penny stock status. Good CEO's know how to delegate responsibilities within their company
TOMEXS
MDO was sent to me free..... I am not a subscriber so I can post that information here. I guess it is not proprietory and should therefore be ok to do so.
GOLD & SILVER UPDATE: Over the last three weeks, MDO has initiated buy ratings on 19 Gold & Silver stocks. Of the 19 stocks, 18 of them are up. Our only loser is a new penny stock we recommended just two days ago and it's only down 1%. All in all - this sector should now be heavy weighted in investment portfolios. With an endless QE3, inflation that will likely sky rocket and a U.S. Dollar that may implode, look for both gold and silver to trade to new all-time highs. With that said, please note at the bottom of our list that we are officially re-initiating a buy recommendation on Explor Resources....
SILVER WHEATON CORP.: (SLW) $39.66 Down $.19.... Re-initiated buy on 08/27/2012 @ $34.08. Up 15.58% since our buy recommendation. Price objective $70.
SILVER STANDARD RESOURCES: (SSRI) $16.34 Down $.15.... Re-initiated buy on 08/27/2012 @ $14.86. Up 8.95% since our buy recommendation. Price objective $30.
OSISKO MINING CORP.: (OSKFF) $10.22 Down $.21... Re-initiated buy on 08/27/2012 @ $9.69. Up 5.26% since our buy recommendation. Price objective $16.00.
SANDSTORM GOLD: (SAND) $11.78 Down $.30.... Re-initiated buy on 08/27/2012 @ $9.77. Up 20% since our buy recommendation. Price objective $20.
GOLDCORP: (GG) $46.48 Down $.40.... Re-initiated buy on 08/27/2012 @ $40.41. Up 13.98% since our buy recommendation. Price objective $80.
RANGOLD RESOURCES: (GOLD) $120.08 Down $1.45... Re-initiated buy on 08/27/2012 @ $100.71. Up 18.74% since our buy recommendation. Price objective $140.
AGNICO EAGLE MINES: (AEM) $51.99 Down $.67.... Re-initiated buy on 08/27/2012 @ $47.39. Up 9.26% since our buy recommendation. Price objective $90.
YAMANA GOLD: (AUY) $19.15 Down $.24.... Re-initiated buy on 08/27/2012 @ $16.81. Up 12.61% since our buy recommendation. Price objective $30.
NEWMONT MINING: (NEM) $56.62 Down $.23.... Re-initiated buy recommendation on 08/27/2012 @ $49.83. Up 12.76% since our buy recommendation. Price objective $90.
BARRICK GOLD: (ABX) $42.46 Down $.28... Re-initiated buy on 08/27/2012 @ $37.78. Up 12.39% since our buy recommendation. Price objective $52.00.
HECLA MINING: (HL) $6.74 Up $.13.... Re-initiated buy on 08/27/2012 @ $5.37. Up 25.51% since our buy recommendation. Price objective $13.00.
KENROS GOLD: (KGC) $10.27 Down $.10... Re-initiated buy on 08/27/2012 @ $9.03. Up 13.73% since our buy recommendation. Price objective $18.00.
CHINA GOLD INTL' RESOURCES: (JINFF) $4.49.... Recommended on 08/24/2012 @ $3.70. Up 21.35% since our recommendation. Price objective $7.00.
GOLDEN QUEEN MINING: (GQMNF) $2.94 Down $.09.... Recommended on 08/24/2012 @ $2.37. Up 25.74% since our recommendation. Price objective $5.00
NEVADA GOLD: (ANV) $37.99 Down $.15.... Recommended on 08/24/2012 @ $31.03. Up 22.43% since our recommendation. Price objective $70.
IAMGOLD: (IAG) $16.06 Down $.10.... Recommended on 09/10/2012 @ $14.06. Up 14.22% since our recommendation. Price objective $30.
LIBERTY SILVER: (LBSV) $1.48 Up $.17 & (LSL.TO) C$1.43 Up C$.08.... Recommended on 09/12/2012 @ $1.03. Up 43.69% since our recommendation. Price objective $4.00.
COMSTOCK METALS: (CMMMF) $.569 Down $.013 & (CSL.V) C$.54 Down C$.04.... Recommended on 09/18/2012 @ $.57. Down 1.75% since our recommendation. Price objective $1.00.
COLOSSUS MINERALS: (COLUF) $6.06 Down $.02 & (CSI.TO) C$5.87 Down C$.08.... Recommended on 09/19/2012 @ $5.75. Up 4.35% since our recommendation. Price objective $10.00.
EXPLOR RESOURCES: (EXSFF) $.185 & (EXS.V) C$.18.... For the last 12 to 18 months, MDO has been negative on Explor Resources. The stock had been sold into oblivion. Up until recently, on every positive assay release, sellers were waiting in the wings to unload stock. Rumors were abundant about a few who sold on insider information. Whatever the reasons for selling, those who were hell bent on destruction seem to be out of the way now. For the last eighteen months, Explor has been unable to close above its 200-Day Moving Average. Not until recently did the stock close above its 50-Day Moving Average. Technically speaking, the close above its 50-DMA is the first bullish development we've had to talk about in well over a year.
Explor is now approaching its 200-Day Moving Average at $.228. The stock seems to have a different feel about it now, so I'm going to stick my neck out on the limb and re-initiate a buy rating on Explor Resources. In anticipation of a close above its 200-DMA, we are initiating a near-term price objective of $1.00. Up 81% from its recent 52-week low, I'm banking on the mojo coming back to Explor with more drill results and a new 43-101 in the wings.
With disgruntled shareholders out of the way, the remaining long-term shareholders are in to stay. Most shareholders who have been in this stock for the last three or four years probably are in at average prices between the mid-.50's and the mid-.60's. As long as the volume continues, there should be very little resistance until we get back to the high-.50's to low-.60's.
TOMEXS
Just go this email..............
From Market Digest Online:
EXPLOR RESOURCES: (EXSFF) $.185 & (EXS.V) C$.18.... For the last 12 to 18 months, MDO has been negative on Explor Resources. The stock had been sold into oblivion. Up until recently, on every positive assay release, sellers were waiting in the wings to unload stock. Rumors were abundant about a few who sold on insider information. Whatever the reasons for selling, those who were hell bent on destruction seem to be out of the way now. For the last eighteen months, Explor has been unable to close above its 200-Day Moving Average. Not until recently did the stock close above its 50-Day Moving Average. Technically speaking, the close above its 50-DMA is the first bullish development we've had to talk about in well over a year.
Explor is now approaching its 200-Day Moving Average at $.228. The stock seems to have a different feel about it now, so I'm going to stick my neck out on the limb and re-initiate a buy rating on Explor Resources. In anticipation of a close above its 200-DMA, we are initiating a near-term price objective of $1.00. Up 81% from its recent 52-week low, I'm banking on the mojo coming back to Explor with more drill results and a new 43-101 in the wings.
With disgruntled shareholders out of the way, the remaining long-term shareholders are in to stay. Most shareholders who have been in this stock for the last three or four years probably are in at average prices between the mid-.50's and the mid-.60's. As long as the volume continues, there should be very little resistance until we get back to the high-.50's to low-.60's.
TOMEXS
AND THIS FROM MINING MARKETWATCH
http://www.miningmarketwatch.net/exs.htm
TOMEXS
I believe GM of MS is Greg McCoach of Mining Speculator.
King World News Article....SORRY ALREADY POSTED :>)
Read entire thing if you wish but the last three paragraphs talks about gold in general and buyouts and mergers to increase.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/8/14_Rule__Gold_Strong,_Expect_Merger_%26_Acquisition_Boom_In_Miners.html
TOMEXS
Got this in my email yesterday.... For what it is worth.
Why Junior Gold Stocks Are Still the Place to Be: Edward Karr
Source: Brian Sylvester of The Gold Report (8/6/12)
Edward Karr, CEO of Geneva-based RAMPartners, favors a disciplined, patient and steady approach to investing in junior gold mining companies.
.....Segment of interview….
TGR: How does RAMPartners, which is a Swiss-based investment management and investment banking firm, become interested in tiny mining equities operating in North America?
EK: The usual way. We get lots of research reports. We get brokers that call us. We do our own analysis. We're constantly out there looking at different ideas, talking to people within the industry, attending trade shows and presentations, etc. We also go on site visits to see the projects themselves. For instance, I was recently in Nevada visiting several companies and seeing their operations.
TGR: Overall, are you still accumulating in this environment? Are you still buying junior mining and junior mining explorer equities?
EK: 100% yes. Everything out there today really looks very, very attractive. This is a fantastic time to accumulate. This is also why in this industry, with its volatility, you always need a pretty high reserve of cash so you can go in and accumulate. One factor that a lot of people in this industry seem to overlook is the potential for declining energy prices in the future. The United States is currently undergoing an energy revolution. More and more oil and gas production is coming on-line due to the unconventional shales. My view is that energy prices are going to continue to fall and we could see crude back to $50 a barrel (bbl). But, for the reasons we've discussed before, I believe that gold will continue to hold firm at around $1,500/oz or higher and oil will go down to $50/bbl, making gold mining companies a good opportunity.
TGR: Gas and diesel are two of the big input costs of the junior miners.
EK: Yes, they are huge.
TGR: You have management teams from different small-cap resource companies coming into your office and pitching you on investing in their companies. What are some things you look for?
EK: First, everything in life is run by human beings. You've got to understand the management; I like to see people who are positive and passionate about what they do. I also like to see management with experience in the industry and a good track record. Finally, I like to see a management team that has invested its own money into the company. I like to see management have a very big equity stake in the company. These are all junior companies so I don't want to see management that is taking large cash salaries and having very high travel expenses and other things like that. Let them put the money in the ground.
TGR: How has your approach changed since 2007, a period in which we've been in and out of a recessionary economic environment?
EK: We're not doing as many deals as we did in the past. During a big bull market, the rising tide lifts all boats. And with a big commodity super cycle, investors could invest in a lot of different companies and most likely the market would bail them out. That's just not the case anymore. We do a lot of research. We really get to know the management teams. We do onsite visits to most of the deals that we're involved in. We do fewer deals but have bigger positions and know the companies intimately.
TGR: Do you believe this is something you're going to continue once the sector picks up again?
EK: We're very opportunistic; if we see the whole sector picking up, if we really start to see investors deploying capital and we think it is sustainable through an economic recovery, then we might start deploying some more cash. Obviously, we'd be looking at other opportunities at that point. But for now, we're going through a very, very challenging time both in the financial markets and in the junior side of the gold companies and explorers. That means that we have to keep some cash reserves out there in case any of our portfolio companies, for whatever reason, might need some money.
TGR: Are you getting more favorable terms from these junior companies?
EK: Without a doubt. Today, if you're an institution that actually has cash and has liquidity and is still writing checks and funding into the junior space, you can almost dictate the terms of your deals these days. That wasn't the case three or four years ago. But, you have to make sure that you use prudence and caution, don't overleverage and keep a lot of cash reserves because the juniors might come back to you for another round of financing.
TGR: What advice would you give to an investor today seeking a private placement in a mining exploration company?
EK: The most important thing is to do your homework. In this sector there could be a lot of lottery tickets but you should not approach this as a lottery. There are thousands of junior mining companies out there and this is not an easy sector in which to invest. Lots of companies are not going to make it. You've got to make sure the company has solid management, a solid project and enough financing to execute. Then you look at the stock and its chart. See if you can get in at a very reasonable valuation. And, continue to know everything about that company.
……………………………
Explor Resources Inc. (TSX-V: EXS, OTCQX: EXSFF, Frankfurt: E1H)
“Defining the Elephant” at Timmins Porcupine West Gold Project
Explor is confidently targeting 3 million ounces of gold by the end of 2013 & that would represent only 10% of the Timmins Porcupine West deposit potential.
EXS has affirmed the model at Timmins Porcupine West and is growing fast; the current gold resource is 212,800 oz Indicated & 814,800 oz Inferred, by the end of 2012 we forecast to be advanced to 1.5 million ounces gold, and by the end of 2013 advanced to 3 million ounces of gold.
§ - Stable, mining-friendly regions.
§ - Experienced management & skilled technical leadership.
§ - Timmins Porcupines West gold deposit, Ontario, current resource 212, 800 oz (1,371,000 tonnes at 4.84 g/t Au) Indicated +814,8000 oz (7,122,000 tonnes at 3.56 g/t Au) Inferred.
§ - 2 km long gold mineralized strike open on both ends and at depth with proven exploration model clearly indicating gold to be found double the depth currently established.
§ - Total 95,000 meters of diamond drilling completed by Explor Resources to date.
§ - 45,000m of drilling on the south limb in 2012 is expected to take the high grade resource to 1.5 million oz gold by the end of the year.
With messages being sent to CD in the last week I ask has anyone had a reply yet?
Tomexs
Destinator:
Thanks for all your input for the time I have been on this site. I do not post often and don't really know what you folks talk about in forked tongue (haha) but thanks for being involved in this website discussion. I bought in because I thought it sounded like a great story and I have other mining stocks that I have visited on my travels. I pray that EXS is given the chance to succeed without all this greed of people that minipulate things for their own gain. People that short or sell to HURT others is wrong. Naive that I am it is still wrong. Best wishes to your new adventure (job) and may I suggest you do things honestly and above board.
TOMEXS
Breaking News from EXSFF
http://finance.yahoo.com/news/explor-begin-30-000-meter-121500013.html
tomexs
Analyst likes N. Ontario....
MR: Stick with the fundamentals. Certain commodities will face different supply-and-demand imbalances over the next decade, the uranium story being among the most acute. We see no evidence of demand for precious metals subsiding. In the last few weeks, we have seen some buoyancy in the iron ore names in our portfolio. Those are some things I like going into 2012.
TGR: You have many positions in small-cap companies seeking gold in Northern Ontario.
MR: I really feel that this jurisdiction is one that is occasionally mistakenly overlooked; I really like Northern Ontario as an exploration jurisdiction.
TGR: Why is Northern Ontario experiencing such a renaissance now?
MR: Money tends to flow to the more glamorous jurisdictions, whether it be South America or Eastern Europe. Ontario has been kind of picked over. But given the volume of dollars going into exploration in Ontario, there is no doubt in my mind that a lot remains to be found. I would rather be here than anywhere else.
I found this discussion Q&A on a financial blog site. TGR is The Gold Report asking MR (Mark Raguz) who is a junior gold mining analyst with Pinetree Capital.
Complete article located here:
http://news.goldseek.com/GoldSeek/1330268400.php
I know Timmins is more east/central Ontario but not to far off.
Regards.
tomexs
New Drill Results.....
http://finance.yahoo.com/news/Explor-Intersects-7-36-g-iw-1397124383.html?x=0
Posted on Yahoo Finance
Go to website and see clip that CD just put together.
Nice find x man x
Regards,
tomexs
Hi all: 2009 Explor article
Here is an oldie but goodie on Explor from 2009 written in The Fundamental View. Sorry if this is old news. A good reminder of what is there. Copy/paste link.
GO EXSFF
Regards,
tomexs
http://thefundamentalview.blogspot.com/2009_08_03_archive.html
I own some ATNAF. We made a trip to Death Valley last year and on the road we stopped at a little hole in the wall market in the desert and saw activity around the nearby mountain. I asked about it and was told the mines name and how just last week a armored car had come and picked up some million plus worth of gold. Found out about Atna and that they were trying to also start up a mine outside of Beaty NV (Reward Mine). All looks good and they continue to buy and then put mines into production.
Does anyone know if Sparton still has the leased natural gas property in the North Atlantic?
Good job Destinator.....
Found this release from Hotstocked.com which I guess covers Canadian junior mining stocks. Released today. He (the writer) wrote other articles within the last two years that were not very flattering towards EXS. So whatever.
"Resources Inc. (CVE:EXS) (PINK:EXSFF) got the stock price fired up after the company raised the resource estimates for their Timmins Porcupine property.
EXS stock price gained 33.3% during the second half of Tuesday's trading session. The move expanded the preceding rally, which was also very strong and had already broken outside the prevailing downtrend. The price spike was accompanied by 1.24 million in trading volume which was nearly 8 times heavier than normal.
The large price advance was a reaction to the announcement of new resource estimates for the Timmins Porcupine West Gold property in Ontario. The estimates were raised to 770 thousand tons of 5.13g/t gold indicated and 5.5 million tons of 3.97 g/t gold inferred, based on a cutoff rate of 2.20 g/t.
The zones identified have a strike length of over 2 kilometers. The company remains focused on exploration and hopes to expand the known resource base further.
The news was actually pretty common for exploration stage companies, thus the price rally shouldn't be too sturdy. The preceding rise in price suggests that traders were anticipating the good news in advance and this just put an end to that.
From a technical point of view, the big price spike on this rally can be interpreted as a sign of upcoming reversal. The large advances are often harbingers of buying pressure exhaustion. However, it wouldn't be surprising if it continued for another session or two.
The most notable resistance on the way of this rally is at 50 cents per share and there is support at around $0.35."
My question is: when news comes out that is very good doesn't resistance up or down not matter?
This writer also wrote these other articles on EXS on Hotstocked.com: Hmmmm, sounds like he has a grudge ha ha.
Explor Resources Inc. (CVE:EXS) (PINK:EXSFF) Gaps Up, Doesn't Suggest Further Rally
Explor Resources Inc. (CVE:EXS) (PINK:EXSFF) Swings Further Down
Explor Resources Inc. (CVE:EXS) Digging Rabbit Holes or Mining Gold?
GO EXS
Tomexs
Anyone going to the Shareholders meeting?
If you are please report back here to these "boardmembers" on the happenings.
Thanks,
Tomexs
Cut Off Grade Determination to value stocks:
Fellow board members I just received this explanation on stock value determination. I found it interesting. Information sent free to me from Equida.com. Tomexs
" This week's topic will be "cut-off" grade - a term you have heard many times before, but is often overlooked or misrepresented. Yet, it is an extremely important factor in mining valuations.
Cut-off Grade Theory and Practice
Consider a block of ore that weighs 1 tonne and contains 3 grams of gold. At a gold price of US$1000 per ounce the value of the gold in the block of ore is just under $96 ($1000/31 X 3 or
$1000 per ounce/ 31 grams (troy ounce) X 3 grams of gold)
Simply put, if it were to cost more than $96 to mine, treat, and extract the gold from that tonne of ore, it would be uneconomic to mine. Conversely , if the cost were less than $96, it could be economic to mine.
But it's not that simple.
If all the tonnes of ore in a deposit contained the exact same grade of gold, it would be easy to calculate. But not all the tonnes of ore that make an orebody contain the same grade of gold. As a matter of fact, gold deposits may vary the most in terms of consistency due to its "nuggetty" nature.
Take a look at this chart: Cant copy chart... sorry
As you can see in Figure 1, in this particular orebody, roughly 30 per cent of the total tonnage has an average grade of 3 grams per tonne, 20 per cent has 2.5 grams per tonne, and so on.
Making the Initial Estimate
Let's assume that a preliminary feasibility study provides the costs for recovering gold:
US$/tonne of ore treated
Overburden removal 12.0
Mining Cost 4.0
Treatment Charge 21.0
Administration and Refining 9.0
Total Cost 46.0
Metallurgical tests also show that only 95 per cent of the gold can be recovered from the ore.
So the question is, what is the minimum amount of gold the project needs in one tonne of ore to make it economically recoverable?
As the table shows, there has to be enough gold to provide US$46 of revenue to cover the costs. In other words, the grade that provides the US$46 is the cut-off grade. Let's once again assume that the gold price is $1000 per ounce, which is equal to $32 per gram (US$1000/31.1 grams)
The formula is simple:
total cost/recovery/price per unit of metal = Cut-off grade
Therefore, in our example:
46/0.95/32 = 1.5 grams per tonne
Now, if we go back to the original tonnage grade distribution as shown in our graph, we can see that roughly 6 per cent of our orebody has a grade of less than 1.5 grams per tonne. Obviously when we mine the orebody, we would try and stay away from mining and certainly would not treat the 6 percent of tonnage below the cut-off grade.
That means, for reserve reporting purposes (see It's Not that Simple: Mining 101), we have reduced the size of our economic ore down to 94% of our original tonnage. While we have reduced the tonnage above the cut-off by removing the uneconomical 6% of ore, the remaining average grade will have increased as the lower grade is no longer included.
That means that increasing the cut-off grade reduces economic tonnage, but increases the overall grade.
Now here is where its gets complicated in assessing the NPV (net present value) of a project. A whole textbook can be dedicated to cut-off grade and assessing the NPV, but I will simplify as much as possible for all intents and purposes.
First of all, we determine the mine life.
Let's assume that the annual treatment capacity can process 10 percent of the original total reserve. That means, with a zero cut-off grade, the original mine life would be 10 years (100%/10%). If you increase the cut-off grade, you decrease the life of the mine due to diminishing reserves (reserves are ore in a deposit that is economical to extract, see Mining 101: It's Not that Simple), but you would increase gold production due to the higher grade.
Now if we assume that capital cost is relatively fixed, it is possible to estimate the NPV for each cut-off grade because we know the operating cost, the mine life, the gold price, and therefore revenue.
Take a look:
Cut-off Grade 1.0 1.5 2.0 2.5 3.0 3.5 4.0
Mine Life (yrs) 9.9 9.5 8.7 6.7 3.7 2.3 1.5
Relative NPV 1.0 1.04 1.07 1.08 0.9 0.7 0.6
Looking at the table, you can see that as the cut-off grade increases, so does the NPV. This is due to the greater benefit of a higher annual cash flow from the higher annual average grade outweighing the shorter mine life.
However, eventually, the shorter mine life becomes too significant and the NPV declines. Looking at the table, you can clearly see that a cut-off grade of 4.0 reduces the relative NPV down to 0.6. Again, remember that increasing cut-off grade reduces your mine life as you "throw away" the lower grade ore in your calculations. That means that the higher the cut-off grade, there is even a possibility that the NPV would be negative as the mine life and recoverable ore becomes too small.
The important factor is selecting the cut-off grade that yields the highest NPV. In our table, that means selecting the 2.5 grams per tonne cut-off grade. Of course, this is an extremely simplified example using an extremely simplified calculation of NPV we used previously. With the advent of new technology and computing software, the optimum economic recovery of an ore deposit can be fine tuned even further. That means it is quite possible that the optimum cut-off grade in our example is somewhere between 2.0 and 2.5 grams per tonne, before the NPV drops.
In our example, the higher NPV was achieved using a higher cut-off grade, as a result of increased annual revenue outweighing the shorter mine life. However, cut-off grade will vary significantly from one project to another as many factor such as mine capacity, mill capacity, and commodity prices can all affect the NPV.
The next time you hear about a project that is comparable to another successful mine, remember that no deposits are ever the same. A minor gram per tonne variation in cut-off grade can have significant effects on a project's NPV and calculations in NPV can vary dramatically from one source to another. That's why larger projects often have to go through numerous calculations from different sources before proceeding.
When calculating NPV, there are obviously conflicting factors. For example, your capital costs will increase when you increase production, but you need to keep it to a minimum for a given production rate. An increase in annual mine production will generate higher revenue, but it's subject to available reserves and must be enough to satisfy the capital expenditures. The list of conflicting factors go on so its imperative that calculations are correct to optimize the NPV of a project.
There you have it, the basics of cut-off grade. "
It is still on the front page of the website www.explorresources.com. Enjoy.
Tomexs
Don't think so. I am from US.
Hi All. I have been reading for awhile and just joined IHub. I own many shares. The website has posted a new video (I think) on the main page showing the underground exploration. Sorry if someone already posted that info. I don't recall reading it before. GO EXS
tomexs