For those not up on their Brothers Grimm, Rumpelstiltskin was an unpleasant little fellow that was able to spin straw into gold. Exeter Resource Corp
Back in 2004, Exeter made a push into the Patagonian region of Argentina through a deal with AngloGold Ashanti
The following year, Exeter made similar moves in Chile, hooking up with Rio Tinto
Exeter has busily advanced both Cerro Moro and Caspiche over the years, through extensive drilling and other studies. Both saw resource estimates released last year. Cerro Moro's 646,000 ounces of inferred gold equivalent resources don't sound like much compared to Caspiche, but at a grade of half an ounce per ton, that's some very valuable rock. Also consider that Santa Cruz province, while chilly, is hot on mining, having recently welcomed Pan American Silver's
Cerro Moro meets many of the criteria I seek in a potential mine. For that reason, I'm excited to see Exeter proposing to spin the asset out into a separate company. The "newco" will also get other Argentinean exploration properties and $25 million in working capital.
I imagine that the majority of Exeter investors are captivated by Caspiche, which holds even less appeal for me than Seabridge Gold's