Explor Resources Inc New EXSFF

RE: Option

[goldspinner]

Those of us that follow various companies such as teck or its subsidiaries see that there are often variations of how things play out when optioning a property or buying back in...the other side may run out of $$ or does not fulfill the obligations...etc...other groups become interested etc... Subsidiary of Teck in argentina had optioned the poncha gold copper property to Golden Arrow Resources back in 2007 for example.... Las Opeas Genesis Minerals (ASX: GMD) has a 100% interest in this gold project located in the Andean province of San Juan. However the local subsidiary of Canadian miner Teck Resources (NYSE: TCK) has recently notified Genesis that it has elected to exercise its pre-emptive Back-in Right to earn a 60 per cent interest in the Project by spending $1.2 million. Teck are currently sole funding exploration at the Project. The project is located near neighboring Poncha gold project, where Genesis has the right to acquire 100% from Teck Argentina. The first drill exploration program at Las Opeas was completed in November 2012, while Teck completed exploration work in 2013. Following significant discoveries, a follow-up drill program is expected during the first half of 2014. projects-argentina-geo lasopenas