$EXS...SHOW ME THE MONEY...I’m in touch with quite a few investors in Explor Resources Inc. (EXS/EXSFF/E1H1) on an ongoing basis. The big question every one seems to be struggling with, is whether or not, President & CEO Chris Dupont, and the Company’s Directors, can nail down the loan required to exploit the 250,000ounce TPW’s (Timmins Porcupine West GOLD Deposit) Central Pit area.
I started investing in Junior GOLD miners in 1978. My broker was a crusty little gent with Continental Securities in Vancouver. He put me into a Primary Offering he was doing called Corona Resources. He was friends with legendary stock promoter Murray Pezim who, at that time, was drilling on the Porcupine Destor Fault Zone, where the TPW is located. After some 90 failed drilling attempts, he finally hit the ‘glory’ hole, Hemlo was born, and the Corona Resources stock went through the roof. It was Pezim’s tenacity, determination, and undying commitment to getting the job done, that won over financiers Gus McPhail, who ran Continental, and Peter Brown, who established Canarim Investment Corp, (now Canaccord) to fund the venture to the ultimate end result. I met Murray myself, he was all business, and displayed all those qualities during our meetings.
Dupont has all the qualities Murray had. Before I invest in anything, I take a very hard look at the people running the show. I did that four years ago when the Company was brought to my attention by an associate I trust explicitly. I made it my business to meet with Dupont, and I have spent a great deal of time with him since. So, although I must honestly admit to some personal doubts along the way, Dupont and the team have always found the money to get the job done. I’ve learned over these past four years that no other result is acceptable to Chris, no matter what it takes…no matter how long it takes. So, assuming he does eventually nail down the loan, and work gets started at the TPW, with an eventual Dividend to shareholders, what impact do you think that will have on the stock price???
I’ve heard the preliminary metallurgical numbers at the TPW are ‘stunning’. In view of the complex nature of the plethora of results, the lab continues to prepare their final report. Apparently, GOLD recovery rates are well above average, and we have a lot of ‘Free GOLD’ as well. In my experience, that will be music to financiers’ ears, as, ultimately, extraction costs will be considerably minimized. Remember, Detour GOLD, Goldcorp, IAMGOLD, and others in the region, all began as an ‘Explor’. Nothing was more exciting to their early shareholders than watching their stock double, double again, and then double again.