Sweet....If not already on its way to the target site, a deep drilling rig will be sitting on Chris Dupont’s most strategic target adjacent to the Glencore Kidd Mine within a day or two. The intention, as I understand it, is to have actual core from the drill site, optomistically clearly showing massive sulphides within it, to enhance his presentation at the Timmins Mining Exposition June 1st & 2nd. That would be very, very cool, regardless of the ultimate need for analysis, and that would certainly pique my interest as a potential investor in EXS/EXSFF.
Many, many rumblings, musings & rumours about EXS/EXSFF have been heard & shared on this Board. None has been more provacative than the one I heard over the weekend. Originating in the Timmins Camp, its been suggested that Teck will be doing one of two things, and soon. Either they will try to buy the other 30% of the TPC outright at 50-75% of Explor’s asking price of $300million, or, more logically, offer shareholders .50-.75 per share, and try to take over EXS/EXSFF outright. The cartoon covers how I feel about Option 2.[img]https://C:\Users\Zim\Pictures[/img] Option 1 should,however, get Chris Dupont’s attention. Likewise, I suspect either scenario might move the stock to loftier levels, in about a heartbeat. Like Tahoe not taking over Lakeshore in early Febuary, Chris may have to put out a News Release saying nothing material is going on to inspire all the new interest in the stock.
The following is from the latest MD&A filed by Teck on SEDAR, quote, “In addition to exploring for copper and zinc, we are exploring for, and looking to partner in, new GOLD opportunities. Our plan is to explore, find and advance GOLD resources through targeted exploration activity in select jurisdictions. Once an opportunity has been recognized, the strategy is to optimize that opportunity or asset through further definition drilling and engineering studies, then CAPTURE VALUE through periodic divestitures.” Unquote. Divesting means to sell, or dispose of.
Teck produces thermal coal for steelmaking; copper; zinc; and silver. Nominal GOLD production was mentioned in the MD&A report. So, it would follow then that Teck advances the TPW deposit, currently open at both ends, and at depth, then updates the 43-101 to the millions of ounces we know are there, and sells it, logically, to Tahoe, or Goldcorp at a huge profit, rather than develop a new mine themselves. Maybe, they’ve already got it sold, and EXS is just an irrelevant minor detail to tidy up??
As I understand it, the review by EXS Directors of Teck’s report is close to completion, which should provoke a News Release. A Teck crew continues to methodically tabulate down hole readings on the 116 existing EXS drill holes at TPW.