OTCPK:EXSFF - Post by User
Post by
starresultson Oct 01, 2013 5:44pm
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Post# 21782694
Desperate Comments from the Chief
Desperate Comments from the ChiefFrom Isnob
Response from DuPont....
In response to your concerns the following is supplied. I trust that you are cognizant of the how the market has reacted to junior exploration company stocks in the last 2 years. Communication is provided to the shareholders via the press releases and the website. If you compare the information conveyed by Explor over the last 3 years with any other juniors you will notice that we provide significant information every month to the shareholders. I should inform you that there are certain shareholders that request information prior to it being releases to the public and it is these individuals that are on the chat rooms and boards trashing the company.
The reason they do this is simple. They have told me unless I provide them with this information they will trash the company on the boards and drive the share price down. You may or may not realize it but the board or any member of the board is prevented by law of providing confidential information to any shareholders prior to that information being released to the public via press releases. The company has gone from 0 to 1,000,000 oz in less than 3 years. We planned on spending $10mm per year to increase the resource of TPW., however the market downturn forced the company to re-evaluate the strategy. Spend less and consolidate the existing resources by completing infill drilling and break up the existing resource to both an open pit and underground resource. In addition this drilling would move a significant portion of the resource from the inferred to the indicated category. This would more effectively use existing funds and bring Explor closer to providing a PEA.
We do not raise capital and drop holes and wish for the best. There is significant planning that goes into the selection of where the holes are drilled. This includes analysis of plans and section of the previous results as well as a review of the 3 D model that is updated by an independent third party consultant who has made recommendations on where to drill.
The board has determined that the TPW is a significant asset and came to the conclusion that the best way to finance the project was by a rights offering. This would allow existing shareholders the ability to maintain their interest in the company. Failing the rights offering a rollback is proposed to finance the company. The company must move forward in order to increase shareholder value and be at the forefront when a market turnaround occurs. There are many junior exploration companies proposing roll backs at this time. Some as high as 20 to 1 and 10 to 1. These companies are preparing for the market turnaround. They will be able to finance when the market turnaround occurs.