Explor Resources Inc. (fka EXSFF)

[stpiermj]

I decided to try to figure out a rough estimate of the amount of gold revealed by drill results. I used the drill intersections and grams/tonne posted on the company presentation. I also used a default of 10 ft3 per tonne and I assumed continuity between holes and that each hole is spaced 50 meters apart.

I came up with 282,307.03 ounces. Using 134 million shares outstanding and todays price of gold ($1600 US dollars) gives a share value of $3.36 (US dollars) and $2.10 if you want to use $1000/ounce

When I used 12 ft3/tonne the result was: 235,255 ounces and share price of $2.80 @ $1600/ounce.

Needless to say, but I will anyway, EXS is severely under priced.

The 3.1 Meters @ 135.04 grams/tonne added up to 119126 ounces all by itself. Considering the fact that we are moving into the very high mineralization zone, I would expect some really good share price action in the near future (there exist a high probability of hitting similar or better grade and width).

I can send the excel spreadsheet to anyone who wants to use it.

If anyone has a known density value, please post it. Thanks!

Good luck to all!