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The Hobgoblin of Little MindsBob Moriarty One of America's foremost poets from the 19th Century was quoted, "A foolish consistency is the hobgoblin of little minds, adored by little statesmen and philosophers and divines." It comes from Ralph Waldo Emerson. I won't be quoted as being foolishly consistent. For the last two years I have repeated again and again that the best and safest investments to be in are those of producing or near producing gold/silver miners. That isn't to say they are the only investments worth considering. Someone I have an enormous amount of respect for let me know that he had a favorite gold junior he was watching. And knowing his track record, I put it on my watch list as well. It's a good story, well worth telling. The company has written a good story, they just have done a rotten job of telling it. The company is Explor Resources (EXS-V). I really like the story and the price. I wish they would do a better job of telling it. But in any case, they are going to be releasing drill results any day now and the drill results will fill in some of the details. The company is a great example of a company run by very, very bright technical people. Their website is a total disaster with the home page showing 15 different projects strewn over 3 provinces in Canada. I did my best to wade through the projects to get a feel for what business they are in and I failed. It's bad. It's really, really bad and if you understand what they are doing, send me an email and let me know. One of their current major projects, the PG 101 gold project in Ontario with results of 52 grams per ton over 3 meters isn't even listed. I'm told there is a new website in the works that will up soon. But the company will be releasing drill results shortly from a 2000-meter drill program at Eastford Lake and from PG 101. Eastford Lake has already returned results of 142 grams of gold per ton over 3.0 meters and 16.6 g/t over 12 meters. If they can connect those zones up with similar results, they may have a major discovery. Eastford Lake is located in Ontario in the Timmins Porcupine Mining Camp. It's all part of the Abitibi Greenstone Belt of Ontario and Quebec, producer of over 180 million ounces of gold in the past. While Explor is an exploration company, they are sticking to known areas of monster size deposits. Explor picked up the PG 101 property in December of 2008. Explor began initial drilling in February of 2009. The project is just east of the former Holt Mine and a few kilometers east of the Holloway Gold Mine. Further drill results are expected any day now. The company has a wonderful land package in one of the most prolific gold belts in the world. Ontario and Quebec are among the best areas in the world to be conducting exploration. For the present the company is well financed but obviously with good results, their drill programs will need to expand. Other than in communication the company is on track. They have great projects in good locations and a well-experienced geological team. Their ability to communicate what they have is about as bad as any company I am familiar with. That said, sometimes drill results speak for themselves. Explor is not an advertiser but they need to be. It's not a company name I was familiar with but I do like their direction and locations. The results to date have been barn burning. They could well be on the verge of a major gold discovery. They need to focus on the ability to tell that story. We don't own shares at the present but with decent drill results and a commitment from management to better tell the story, EXS would be a very attractive stock. The shares are a whole lot closer to the lows of the last year than the highs and with the shares down 35% in a month, they are worth looking at. Explor Resources Inc Bob Moriarty 321gold Ltd |
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