Exeter Resource Corp.

Exeter Resource Corp.'s flagship Caspiche project is well located in Chile's Maricunga district, which has good infrastructure and is in close proximity to other large scale mining operations and projects in development. Caspiche has 2P ore reserves containing 19.3 Moz gold, 41.5 Moz silver and 4.62 Blb copper. Exeter has released a PEA for Caspiche that reviewed new, low capex, scaleable development alternatives including a 30 Ktpd heap-leach oxide gold project, producing a projected average of 122 Koz gold annually over a 10 year mine-life.

Expert Comments:

Hebba Investments, Seeking Alpha (12/30/14)
"Exeter Resource Corp. has one of the largest undeveloped gold resources in the world in its Caspiche deposit. The thing about Caspiche is that it can be developed as an expensive large scale, long-lasting monster mine or it can be developed as a smaller-scale, much more profitable multimillion-ounce mine, or a combination of the two. . .we like the company as an acquisition target."

Etienne Moshevich, Alphastox.com (12/30/14)
"Exeter Resources Corp. is one of the most exciting and well-developed gold resource stories I've seen in recent years. . .as we all know in this resource market, only the best of the best will prevail, and in my mind, the company is definitely one of the chosen few that could potentially create great value for its shareholders."

"Exeter Resource Corp. is a very special situation. Everybody thinks that Caspiche is this gazillion-dollar project 14,000 feet in the Chilean Andes, but in reality there are 2 Moz of oxide that can go straight to doré bars. That's a much more doable project for a company like Kinross. Exeter has almost as much cash as its market cap; it's always been extremely well run. I'm pretty sure Exeter is going to find a way to get Caspiche running. If it means selling out to another company, that might happen. I would also point out that besides the 19.3 Moz gold, it has 4.62 Blb of copper buried under the oxide. There are a lot of people who'd love to get their hands on that copper at the right price, specifically the Chinese." read more >

Hebba Investments, Seeking Alpha (10/31/14)
"There are many reasons to like Exeter Resource Corp., including heavy recent insider buying, an expanded water drilling program and the potential to be acquired by any one of the many majors in the area. . .but we think an Exeter-Kinross match makes a lot of sense, with a lot of potential synergies for Kinross, not the least of which is the ability to replace its Maricunga operations as they wind down."

Prudent Finances, Seeking Alpha (10/21/14)
"Exeter Resource Corp. has CA$35M cash and zero debt. . .Exeter should easily be able to survive much longer than 3.5 years. . .time to make some decisions or deals. . .raise the capital to develop Caspiche. . .make Caspiche a joint venture. . .or look for a buyer for Caspiche or for the entire company. The takeover scenario is realistic considering that Exeter's stock price and market cap are low. . .the location of Caspiche makes it a potential target for either Kinross Gold Corp. or Barrick Gold Corp. . .Exeter has a large resource, lots of cash with no debt and a more feasible plan."

"One company that has interesting optionality is Exeter Resource Corp., whose gold-copper Caspiche deposit in Chile has been modeled for multiple mining scenarios. The limiting factor is water access. The company is sufficiently funded with the $12M it needs to complete its studies and get its environmental permits for the smaller-scale scenarios. It has $40M in the treasury, which puts it in excellent shape to continue to advance the understanding of the deposit, search for water and be ready to move at different scales of production when gold starts to move on the upside." read more >

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