Explor Resources Inc. (fka EXSFF)

[Flashminer]

I was wondering if anyone on this board would have a valid alternative course of action to suggest to EXS?

Given where we are, what are the options available to EXS? If the goal is to develop TPW to the point where we get a JV or a company buys the whole property are there other ways to get there than what is currently offered by the management. By that I mean the ridiculous rights offering.

I don't believe that hunkering down, stop drilling and wait for better gold prices would get us any closer to that goal.
To get the PEA done for TPW would it really require 10 million or is that to get TPW developed beyond that? If the CapEx for developing TPW to the point where a PEA can be done is less than 10 million couldn't they use the Chester property or a group of properties as collateral to extend the credit limit?
I would support that type of financing in a case where the probability of using debt would bring greater return to shareholders than the cost of interest would be. So technically speaking ROA should be higher than the interest rate. I would assume that to happen if they could get the PEA done by extending the credit limit.

Given the current market and banking conditions it could very well be that it would be impossible for EXS to extend the credit limit.

Does anyone have any creative thoughts on this?