Exploring 'Explor' Resources

Now that we have an "all clear" signal that the precious metals sector is poised to resume its long awaited next leg up, we're going to continue to feature junior mining companies of merit.  Today, we'll feature Explor Resources Inc (EXSFF or EXS.V).  The company's website can be found here (http://www.explorresources.com/).

Explor Resources Inc. is a gold and base metals exploration company with mineral holdings in Ontario, Quebec and Saskatchewan.  The company is currently focused on exploration in the Abitibi Greenstone Belt of Ontario and Quebec, where more than 180 million ounces of gold and more than 450 million tons of Copper/Zinc ore have been found to date by other adjacent miners.  Explor's total land position in the Abitibi Greenstone Belt is approximately 10,434 hectares.  Explor also owns 1,991 hectares of mining claims in Saskatchewan and 250 hectares in New Brunswick.

While Explor remains relatively unknown, it was recently added to the TSX Venture exchange.

The company also has significant land holdings in other promising areas, including the Timmins Porcupine West Gold Property, the Eastford Lake Gold Project and controls substantial claims in Saskatchewan along the La Ronge Gold Belt, which has produced more than 600 thousand ounces of Gold and 63 million pounds of Copper from adjacent, existing mines.

As an explorer, the company should be viewed in light of its assets.  At its recent stock price of 60 cents, Explor has a minute market capitalization of about $50 million.
 
The company has no debt and has successfully raised funds in a private placement late last year to fund ongoing exploration activities.  On December 17, 2009, Explor completed an offering which resulted in new capital of nearly $7 million.
 
Explor is NOT for the feint of heart.  The stock is extremely volatile and prone to large, sudden moves.  In late 2008, Explor traded for less than 10 cents per share, then climbed to $1.50 by March, 2010.  Since its March peak, the stock suddenly plunged to below 60 cents per share in about 2 weeks!
 
If Explor is part of your portfolio, it would be highly important to make sure you remain properly diversified.
 
Here's to hoping you "explore" and find new riches in the imminent parabolic move in junior precious metals companies.
 
Marko's Take
 
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