$EXS...UPDATE...Was the Friday selloff in the big board equity markets in the USA, and around the world, the beginning of the long-awaited correction? Like most of us, regardless of our experience level, its difficult, at best, to understand all the macro factors that play into the price of GOLD. My head starts to swim when experts talk about Treasury yields, interest rates, inflation, the USD, futures contracts, and the ultimate, broad impact on equities, GOLD, and other commodity prices.
Nonetheless, the Explor office is busy responding to the Stockhouse.com crowd funding opportunity initiated last week. Apparently, some 35,000 emails were sent to Stockhouse subscribers, generating quite a bit of interest. Others are responding to the plethora of ads scattered throughout the entire Stockhouse site, and the ‘Deal Room’ icon. Dupont must have tremendous confidence that the $2,000,000 Placement will be completed, as in recent memory, he has never put out an announcement until after the fact. That could mean that Delineation Drilling at the Company’s Open Pit GOLD Deposit at the Timmins Porcupine West Property (TPW) could get underway imminently. Upon completion, all the new assays would be passed along to fully upgrade the NI43-101 Report, which could substantially increase the known resource. Likewise, a $1,000,000 Delineation Drill Program at the Chester Copper Resource in New Brunswick could ultimately, increase that known resource, when the NI43-101 Report is upgraded.
Its become pretty obvious that if a lab guy makes a promise, he’ll keep it if he feels like it! Dupont is so angry about the ‘pending’ East Bay Drilling results, (in the lab’s hands since the end of November), and all their unfulfilled ‘promises’, he’s threatened to retrieve the core samples, and have them analyzed elsewhere. Whether that gets them motivated to complete the job quickly, remains to be seen. The samples contain considerable visible mineralization, especially Hole #2, which Dupont is very excited about. Personally, I find it alarming that material information important to all investors in a public company, can be held hostage by some irresponsible little lab rat!
Lastly, I’m hearing a new video interview with President/CEO Chris Dupont should be available by the end of this week.