(MENAFN- ABN Newswire) Rouyn-Noranda, Oct 18, 2017 AEST (ABN Newswire) - At least two Confidentiality Agreements (CA's) have been signed with Explor () () () in the past two months. A couple of other CA's are in legal process.
A CA to most is no big deal. However, you have to ask the question, why would well established mid-tier, or large producers negotiate & sign such a document if they were not really interested in a specific asset, or assets in the Explor portfolio? Obviously, they wouldn't waste their time reviewing volumes of material; analyzing the merits of the asset(s), or ultimately preparing an offer, would they? The only way they would even consider signing such a document is if they could clearly see a pronounced benefit to their future production, assuming the price is right. Given the advanced exploration status at the Timmins Porcupine West GOLD Resource (TPW), and its proximity to various mills in the Timmins GOLD Camp, I would venture this asset is being seriously scrutinized by a prospective suitor, or two, (or three?).
Likewise, given Copper is at three-year highs, I would suspect we may be seeing new, or renewed interest in the company's Chester Copper Resource in New Brunswick, Canada as well. Both of those property blocks have NI 43-101 Resource Estimates with interesting numbers. Then we have the large GOLD exploration property blocks at East Bay, PG-101, Eastford, and Kidd Creek. Any serious mid or large producer would be happy to add any of these to their portfolios, given historical GOLD, and/or Copper production, & future potential. It should be noted that the 3,000-meter drilling program at East Bay has been on hold for a number of weeks now, opening one's thinking to a number of possibilities for that historically GOLD rich block of claims & concessions. So, whilst the macro factors with their ebb & flow, wreck havoc with the GOLD sector, Dupont, and his crew are intensely busy negotiating a brighter future than the market might suggest.
Having just returned from a promising trip to Europe, Dupont is confident that the proposed million- dollar drilling programs at the TPW, and the Chester property will be underway in due course. Personally, I think those will be financed either through an outright property sale, Joint Ventures, or Earn-In Agreements.
NOTE: This forum commentary was published from a third party source. It has not been verified by the company.
About Explor Resources Inc.
Explor Resources Inc. () () () is a Canadian-based natural resources company with mineral holdings in Ontario, Quebec, Saskatchewan and New Brunswick. Explor is currently focused on exploration in the Abitibi Greenstone Belt. The belt is found in both provinces of Ontario and Quebec with approximately 33% in Ontario and 67% in Quebec. The Belt has produced in excess of 180,000,000 ounces of gold and 450,000,000 tonnes of cu-zn ore over the last 100 years. The Corporation was continued under the laws of Alberta in 1986 and has had its main office in Quebec since 2006.
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