The PDAC was very crowded yesterday. I don’t think I have ever seen it so busy. Here is what I learned about Explor. Some of the information was very technical and I did my best to get it as clear as possible. I can only hope that what I state below has been interpreted correctly. I am not a geologist. You should do your own due diligence. I provide the following as an investor who relies on my own research techniques which may or may not be suitable for you to make investment decision. I am a long term patient investor and invest in companies that I believe have HUGE potential. Explor fits that bill in my view.
1.) While the TPW suite of porphyries consists of multiple porphyries from a geological perspective those porphyries are somewhat sandwiched together and for all intents and purposes are one very large porphyry wrapped by one gold bearing ‘wall’ around it. Hence when we hear the name Bristol porphyry it includes the two large pink areas shown on page 7 of the Timmins Porcupine West presentation. This is something that I have wanted clarified for some time now and I am glad to finally have that understood. The figure used to describe the fact that the Bristol Porphyry is 5 times the size of the Pearl Lake porphyry is likely very conservative. It is my view that the Bristol Porphyry is much larger than that. Look to Page 11 of the NI43-101 for a different sandwiched image of the Bristol porphyry.
2.) I learned exactly where the South wall is as well as the north wall. The south where the 2KM strike is to the south of the largest pink area shown on P7 of the TPW presentation. The north wall is at the north side of the 2nd largest pink area shown on P7.
3.) The Dome mine continues to be mined and has now produced 17 million ounce of gold or 4 millions more ounces than shown on the maps. It continues to produce from the splay faults.
4.) The Hollinger McIntyre mine produced its gold from numerous gold veins. Once those veins were mined, the miners then got gold from the splay faults that intersected those veins. The Bristol porphyry has similar gold intersections.
5.) The Bristol Porphyry is very similar to the Pearl Lake porphyry but it lies at a very different angle to the Pearl Lake porphyry. I could be wrong, but I suspect that this is the reason why previous drillers may have abandoned the project. I suspect that Chris and his ‘team of geologists’ figured this out and were better able to target their drills to give investors the stunning results that we saw in the first NI43-101.
6.) A large display on the right hand side at the back wall of the booth caught my eye. This chart representing a side view of the high grade zone simply blew my mind. It puts the pieces of the puzzle together to show an incredible minable resource that no major will be able to resist. I also saw a 3D image of the high and lower grade zones that allows the viewer to rotate the image to better appreciate the gold bearing areas in a much better way than I have ever seen for the Bristol Porphyry. CD agreed to add both images to the web site ASAP. Probably once the show is over. Look for it.
7.) I spent a great deal of time speaking with Chris and his geologist learning as much as I can. It was time well spent. What I learned is that Explor is NOT a one man show as some would have you believe. Yes we need new investors and yes we need to drill to prove up the 1.5 million ounces.
That said, I remember when rumours were circulating that the first NI43-101 was only going to contain 200,000 ounces of gold. I did not believe it then and I certainly don’t believe now that we are only going to prove up 1.5 million by December 2012. It is my view that the 1.5 million ounce is a SAFE number being thrown about.
While it may seem disheartening now to see dilution, I seriously doubt that we will need much more financing (if any) once we finish drilling enough holes to ‘feed’ the December 2012 NI43-101. Assuming that we get the required financing and assuming that we are able to continue drilling to ‘feed’ the December 2012 NI43-101, I will eat my hat if December shows only 1.5 million ounces in the NI43-101 that is being thrown around these day. I think it is going to be much higher that. If I am right, no amount of manipulation will be able to hold the stock price down at that time.
In my opinion any LOYAL larger investor willing to hold onto their shares until the offers start coming in from the majors will make an enormous return on their investment be it private or for their mutual fund portfolios.
I also visited a couple of other select booths that are being hailed as the next greatest. I will not name them but suffice it to say that they have a long way to go to get to where Explor Resources is today.
CD and his TEAM have simply done an incredible job against some really big odds and challenges. I have no problem in supporting them in any way I can and so should all investors interested in making the return of a lifetime.
