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New PR positive for Open Pit?
Anyone think this sounds good for an open pit? Need 1g/t to be economic for a pit right?
Like many of you my head is still spinning from the reverse split news.
I still have hope the U.S. Debt Ceiling imminent increase will launch Gold into the next leg up, and we get a JV out of left field.
Hoping and praying.
Desty - 43-101 thoughts please?
Againallin - great post
I agree with your observations. I would add that Gold appears to be entering the next leg up - could reach new highs early next year.
In the last 2 months GDXJ is up 55% and our neighbor LSG has increased an impressive 300% with increasing volume.
CD has been pretty savvy to acquire such a large number of properties. I am looking forward to the dividends as they each are sold off. We just need to be patient.
Greg McCoach
Greg's Mining Speculator out today has a brutal review of Explor. Contained the following phrases:
Suck wind
Painful to watch
Ugh!
Hoping Gold takes off as the shorts are forced to cover, and we get a little lift of the share price.
This Friday the 5 day "Energy & Mines Minister Conference" starts in Yellow Knife. The Water Permit could be announced at this event! Buckle your seatbelts!
Gold up $26 this morning!
Of course nothing in the MSM about the Sat fire in the JPMorgan Manhattan gold vault. Anyone live in NY hear anything?
Perhaps we get a positive PR this week?
Hoping a rising Gold Price will help overcome our current SP slide.
Something Good?
Those last 2 posts were certainly refreshing. Just the thought of anything positive on the horizon feels pretty good to me. I suspect someone like Agnico Eagle has finally come to the table with a serious JV offer predicated on some additional shallow drilling results, etc. We may have one more Gold price dip before the next strong move up starts. It appears the bond market is starting to get out of control with 10 yr treasury jumping a full point in the last 2 months. IMHO Bernanke will have to significantly increase QE to keep the rates in check a avoid stalling the housing market momentum. This will be very bullish for gold and silver. Cheers!
Desty - Ditto on the Extortion angle.
I have held Explor and Canadian Zinc shares for 4 years. It has been a real uphill battle for Zinc attempting to obtain their final permits from the Gov / Locals. The great thing about Explor is there are no Permit Issues!
Had to laugh at your elephant birth reference! It may be more appropriate than you think - A typical Elephant gestation period is 640 days. Hope we don't have to wait that long for 3M ounces and subsequent buyout.
Hoping Gold has a violent move up this summer to help our share price improve.
Where is the bottom?
We may hit 1 penny by Memorial Day in the U.S. if CD doesn't explain the 43-101 shortfall soon. Way under water....
Cut Off Grade - State of Shock!
Yes gharma, the Cut Off grade has been reduced again
Dec 2011 2.2 g/t
June 2012 2.0 g/t
Apr 2013 1.7 g/t
Seems like most of the ounces added could be attributed to a 15% reduction in the cut off grade.
Too busy at work to really dig into this right now. I am really shocked at the moment. Thought we would have at least 1.5m total ounces at this 43-101.
Kidd Creek we need you now....
Great letter to Explor Slimmoney!
I have been a McCoach subscriber for 3 years. I was taken back that Greg chose the word "Disgusting" for his update on Explor.
Hopefully we will get some news soon and the SP beat down will be in the rearview mirror.
Hybrid 43-101?
Perhaps Chris will release a 43-101 that includes drill holes thru last Fall rather than the June 2012 cutoff?
It appears that Gold may have bottomed last week. This next leg up will surprise most folks IMHO.
Japan is now printing 23% more per GDP than the U.S. Fed is printing.
All central banks have their money printing presses on overdrive!
The increase in Gold supply above ground only increases by 1.5% per year.
Looking forward to Kidd Creek news and the 43-101 release.
Kidd Creek
Yes, I agree that 2 or more drills would have been a good strategy at Kidd Creek.
Some of the smart guys I follow (James Turk, Jim Sinclair, Rick Rule, John Embry, Eric Sprott, etc) are predicting we are at or near a bottom in the metals and the next leg up will bring us new highs. Hoping the lift in the metals helps EXSFF to be more attractive to a Major as the ounces grow. Sure would be nice if it happened this year.
I like to think the 43-101 delay is due to MRB&Associates being a small boutique firm with only so much bandwidth. I don't think CD would have purchased Chester if his recent PP investors were not on board. Hoping CD and Gary know more about what is going on than they can divulge at this time.
Sitting tight at sea level in Florida,
RT
Hello PB in the Sky!
The PR said a 3,000M drilling program. Last I heard they were planning on drilling 600M deep. Hoping they get in 5 holes before the ice begins to melt. Only one rig onsite.
Waiting for lightning to strike!
RT
Drilling at Kidd Creek
Steven,
If you zoom in on the drill rig operator photo, you can make out that the guages are all active, indicating the drill in running. Hopefully it won't be long before we know if lightning is going to strike at Kidd Creek.
Xstrata next door currently has a $34 BILLION Market Cap.
Cheers,
RT
Dividend Payout - What a Gift!!
Red,
Nice refreshing post - thanks! A Dividend Payout for the selloff of a property like Kidd Creek is truly a gift. The 2013 Tax Rate in the U.S. for Dividends and Long Term gains is only 15%. The Short Term (less than one year) rate is at ordinary income rates, whichever bracket you fall into. The rate benefit is grand, but the spectacular result is not having to worry about an exit strategy should the stock run up nicely. At some point a cash dividend is deposited into your account where you hold your EXSFF shares.
I believe if a Dividend of $2.00 per share was announced for a certain date in the future, the SP would run up near that amount similar to a buyout announcement, and then recede after the dividend was paid to stockholders. Lightning could strike at Kidd Creek within a few weeks. I don't think we will have to wait on core assays as the drill team would most likely be calling all their friends and family if they pull some significant VMS core.
Hopin and Prayin,
RT
Kidd Creek Drilling Tomorrow?
Does anyone know how the drilling schedule is shaping up for Kidd Creek?
Thoughts on a Share Price with a good VMS hit?
Today's Hearings?
Anyone have any insights on how the hearings going today?
Read thru much of 300+ pages of yesterday's transcript. The tone seemed good with a few annoying questions about the 2nd pond, etc.
Ready for the run up!
43-101 and the Gold Price
Yes, as the price of Gold goes up it does allow Chris to lower the cut off grade and increase the total ounces. However, the Gold Price used in the equation is a 2 yr rolling average. So spikes in the price of Gold will help, but not as much as one would think. Now if Gold goes over $2,000 (IMHO this year) then it will certainly support a higher buyout price when we hit 3M ounces at the of this year hopefully.
It may be a mute point if lighting strikes at Kidd Creek. Drilling should start very soon.
Questions for Conference
1. How many drill holes/ wedges will be added to the upcoming 43-101 update?
2. If we hit VMS at Kidd Creek, what could the potential value of that resource be? Just a range please?
Thanks,
RetireToday
Vancouver Resource Investment Conference
Anyone attending the VRIC today or tomorrow?
Would love to hear any feedback from a Chris or Gary sighting!
Thanks,
RT
Colllllllld Indeed at Kidd Creek
Spoke to Gary last week and he said the same thing about drilling at KC to begin about Feb. 1st.
I have seen photos of Xstrata's huge open VMS pit. Do we really have a chance of hitting that large of a deposit? From what I have read VMS do show up in clusters.
What would a decent VMS hit do to our stock price?
Thanks! Warm in Orlando - 81 degrees today.
Drilling at Kidd Creek
Email from Gary a couple of days ago:
All drilling at kidd creek depends on the temperatures. It must remain below -20 daily for two weeks to solidfy the access road. The road to get in is 18 kilometers through the bush/swamp and so it takes a while to get the road built, usually 2 or 3 weeks. So, drilling could start at the end of January if the weather gets cold and stays cold.
My two cents:
The Debt Ceiling talks will begin soon after the Fiscal Cliff fiasco comes to some level of agreement. Google U.S. Debt Gold Price and you will see the price of Gold makes a steady upward climb as more dollars are printed. This 18 month consolidation period will most likely end soon with a surprising launch upward. Hopefully it will finally give our troubled Explor a stock price boost. Would be nice though if we hit the Kidd Creek Lottery! Come on 2013!!
Impact of a VMS hit at Kidd Creek?
Any guess on what the stock would run up to with VMS discovery? McCoach told me once it would run to at least $10 overnight with the anticipation of an Xsrata buyout. Maybe even before assays were back - he thought word would get out from the drillers into the local community pretty fast. Hoping for a VMS surprise. Been invested for 3.5 years - ready for Explor to pop.
Where is this stocked headed?
Joe,
I agree that it was very strange that only 3000 shares were traded yesterday. So a $300 trade essentially evaporated all the value of the company stock. My cost average is 30 times higher than the current 1/10 cent share price - I am in at 3 cents.
Ronter8 any thoughts?
RetireToday
Wow! Explor back in good graces with MDO!!
MDO was very positive on Explor for at least a couple of years. As of six months ago or so I think they had written off this stock. Very encouraging to see a turn around with MDO. They have a pretty sizeable following, so IMHO this will move us into a nice positive close on Friday. 4 out of 5 up days this week would probably be a record for the past 12 months.
2.2 g/t cut off grade first 43-101
2.0 g/t cut off grade second 43-101
? g/t cut off grade third 43-101
With Gold's momentum the 2 yr rolling average Gold Price used for the cut off grade calculation in November's 43-101 will most likely allow for a cut off grade below 2.0 This increases the ounces of all three 43-101 reports.
It's starting to look like a wonderful Holiday Season ahead!! :)
Thanks John!
I should have read the whole page. So the stock will start trading again on Monday Oct 1? Could stop soon after if the court rules against the company.
I have owned shares for about 18 months now. It was beginning to look like the share price was going to move up. Patience is a virtue.
A hearing has been set for October 1, 2012, on the Commission’s motion for a preliminary injunction. Separately, the Commission issued an order suspending trading in the securities of Freedom from September 17, 2012 through September 28, 2012
SEC Hold?
Just wondering if there is a hold on this stock by the SEC? Several days with no volume is a little surprising.
Thanks!
Good Advice x man x
In 2002 Jim Sinclair forecasted Gold at $1,635 in 2011.
When the Libor scandle broke, he said he was assured that Gold would reach $3,500 within the next 36 months. There are no guarantees in the market (except that gov's will continue to print) but I like following the folks who have a good track record.
www.jsmineset.com/
Thanks for the update PB! I was hoping the 2nd hole was due to positive findings on the first North side hole. It should get more interesting should the indications lean towards the North side of the porphyry mirroring the South side.
Mini Glory Hole #73W5 Noted in 8-21-12 PR
Known:
7.65g/tonne Gold over 33.2 Meters for hole #73W5
2.79 tonnes per cubic meter rock density at TPW (43-101 section 14.9)
$21.8M current Market Cap
Assumptions:
Chris can get $400 per ounce at the buyout
I have calculated the cubic meters in a cylinder around the 73W5 hole using a 12.5M radius and 33.2M length.
16,289 cubic meters
45,446 tonnes of rock (16,289 x 2.79)
347,659 grams of Gold (45,446 x 7.65)
11,589 ounces of Gold (347,659 / 30)
$4,635,452 Added Value from one hole today for Chris (11,589 x $400)
The potential leverage in the Junior Mining stocks is amazing and sometimes very exciting.
IMHO I think we could still be under a buck when the announcement is made that a Major is purchasing TPW for multi-dollars per share. The ounces are building, Gold price is beginning to gain momentum, and the Majors stalking this property are understanding the geology more with each PR. Purchased my first 100,000 shares at .30 in June 2009. In for the long hall, which hopefully will be sooner than later. Good Luck everyone!!
P.S. Anyone have additional info on the 2 drill holes on the North side?
Second long north south hole is being done?
PB - this sounds like a very positive event. I know many were conflicted with the stategy to drill on the North side because of the higher cost and risk / reward of continuing to prove or not prove the Holinger-McIntire model. If they are drilling a 2nd hole, it seems like the first hole must have showed some good indications. If drilling on the North side begins to indicate it mirrors the South side resources, this would be some incredible momentum as far as attracting a Major sooner, than later.
We would all appreciate any further thoughts you have on this.
Cheers,
RT
Good Luck Destinator!
Will certainly miss your posts here. I have a couple of questions for you if you don't mind. Could you please send me a note to roybuckeye@gmail.com?
Thanks!
Plumbers on the way...
Explor may be a little of both right now. I think within the next year Agnico or Barrick Plumbing will show up to unclog our stock price in a big way!!
Almost One Million Ounces of Gold Already!
When the 43-101 was released last December many were glad a conservative cutoff grade of 2.2g/t was used for the total ounces calculation. See section 14.12 below.
831,175 Total Ounces using Gold at $1,350/oz (24 month trailing ave) was used in the formula.
If the 43-101 released last Dec were released today, the Cut Off Grade would be lowered from 2.2g/t to 1.8g/t and it would show almost 1M ounces!
979,989 Total Ounces using $1,690/oz (current 24 mon trailing ave) http://www.kitco.com/charts/techcharts_gold.html
I think drilling on the North side is a good idea. This June the updated 43-101 has a good chance of getting us to 2 million ounces. If the North side drill hole supports a mirror image forecast, then that will certainly get the attention of the majors who desperately need replace their depleting reserves.
I have been accumulating shares for 3 years now. Underwater for almost a year. I like the expression “It’s always the darkest before the dawn". Hoping will we see a nice sunrise sooner than later!
14.12 Resource Estimate
Underground Resource Estimate Au Cut-Off Grade Calculation CDN$
Au Price US$1,350/oz (Approx 24 month trailing average price Oct 31/11)
$US/$CDN Exchange Rate $1.00
Au Recovery 95%
Mining Cost (2,000tpd) $75/tonne mined
Process Cost (2,000tpd) $12.00/tonne milled
General & Administration $5.00/tonne milled
Operating costs per ore tone = ($75 + $12 +$5) = $92/tonne
[($92)/[($1,350/oz/31.1035 x 95% Recovery)] = 2.23gpt Use 2.2 gpt
Questions for Gary:
1. What are the new drill hole numbers that will be added to the first Rev of the upcoming 43-101 update?
2. Could these drill hole numbers be noted in the next PR, along with the drill hole numbers that are still pending?
3. Will we keep two drills going till TPW is sold off?
4. Is one drill still performing "in fill" drilling and one stepping out?
5. Once TPW is sold off, what is the next property Chris will focus his resources on?
I agree we will be at 3 million ounces before the end of 2013. With the grades they are hitting it could happen by the 43-101 release in Dec 2012.
Destinator,
Did the new illustrations you saw at PDAC ever make on the Explor website?
IMHO the Agnico geologists are way ahead of the team producing the 43-101 report. Chris has most likely received a verbal offer from Agnico by now. His response was probably something like "Thanks, but I will keep on drilling - if you want to risk a bidding war later with someone like Barrick or Newmont, that will be fine with me."
I have been accumulating for 3 years now and I'm under water like most readers here. The stock slide has been very depressing, but in the end the big payoff will seem all the sweeter for those of us who were patient enough to hang in there.
Looking forward to some great drill results soon!
Hello MiningJunkie,
Please email me offline - I have a couple of questions for you.
roybuckeye@gmail.com
Sorry to see you depart this board.
Thanks,
Roy
Great Summary Cash2
I would bet 90% of the sheeple have know clue about the future significant devaluation of the dollar. Gold is not in a bubble, but the U.S. Treasuries market sure is. The negative yield bond is right around the corner. The petrodollar is on the ropes, and gas prices this summer will be painful tax on the economy.
Looking forward to those 10 drill cores that are pending!!
IMHO The big upswing in Silver/Gold prices in the next few months will be very surprising as forecasted by James Turk, Jim Sinclair, Alf Fields and many others.
Lakeshore Gold up 13% today on 43-101 news
LSG up 13% with 5.5 million shares traded.
LSG Market Cap is 14.5 times larger than EXSFF. $684M vs $45M
If EXSFF had the same amount of gold...
14.5 x .35 = $5.07 per share for Explor