Explor Resources Inc New EXSFF

RE:RE:Financials and MD&A are out

[goldspinner]

excerpt regarding EXS agreement with Teck Resources Ltd. on TPW... Explor grants to Teck the option to acquire an initial 55% interest in the TPW property (the "First Option") which Teck may exercise by incurring an aggregate of $8000000 in committed and optional expenditures by May 1st, 2019, of which is a total amount of $1500000 on or before May 1st, 2016, (condition fulfilled) a cumulative total amount of $3000000 on or before May 1st, 2017, a cumulative total amount of $5000000 on or before May 1st, 2018, and a cumulative total amount of $8000000 on or before May 1st, 2019. The Interim Financials continue to detail Teck having a supplementary second option with spending date targets incurring an additional $4000000 on or before May 1st, 2022. The above amount would give Teck on this Second Option an additional 15% of TPW. This aggregate amount of $12000000 enables Teck to own 70% interest in TPW and Explor Resources will own a 30% interest... Interesting to note in above is the cumulative total amount of $3000000...(With the understanding that the differences can be made up by Teck in a cash payment to make up the difference before or on each target date...) this means that Teck Resources Ltd. minimum is approximately $l million ( or the additional amount required to make up the $3 million including spent money to date) before or on May 1st 2017...Understanding this fact in conjunction with the next $2 million to be spent by Teck the following year by May 1st 2018, and the additional $3 million on top of those previous amounts must be spent or given in cash before or on May 1st, 2019... Keep in mind this is only for the 55% of TPW as a result of $8 million total...Confident that gold price will rise during this time do you actually believe that Teck will simply adhere to the base minimum work incurred to meet the earn-in on the agreement to TPW? Or would Teck Resources Limited take a long term company approach in order to gain strategic advantage in either maintaining the property to fruition or to flip it to Tahoe or another interested party....Simple logic and providing Teck with piece of mind in defining resources at TPW to make it a more appealing acquisition would lead many to believe Teck will engage in a reasonable if not larger drilling program this spring...Favourable drilling results will encourage Teck in late spring to continue with a larger program in the summer months...May decide at some point to flip it for a great profit over its incurred expenses to the highest bidder for TPW....the higher % of ownership for Teck would mean a greater profit. This would allow Teck the opportunity to pay for the difference in cash to attain the 70% ownership of TPW...or it may decide to continue drilling to fulfill the Second Option.... In the meantime, January allows us to get closer to an answer at Kidd Creek, and EXS will begin work at various projects within its properties... Next, favourable results at Chester will start 2017 on a positive note...Finally, Teck detailing it's drilling program at TPW consolidate those who believe in the future of EXS and the rise of its share price...