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Last C$0.52 CAD
Change Today -0.04 / -7.14%
Volume 6.2K
XRC On Other Exchanges
As of 1:43 PM 09/1/15 All times are local (Market data is delayed by at least 15 minutes).

exeter resource corp (XRC) Snapshot

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11/18/14 - C$0.90
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07/24/15 - C$0.45
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exeter resource corp (XRC) Details

Exeter Resource Corporation, an exploration stage company, engages in the acquisition, exploration, and development of mineral properties in Chile. The company explores for gold and copper deposits. It principally holds interest in the Caspiche property located in the Atacama region of northern Chile. The company was formerly known as Golden Glacier Resources Inc. and changed its name to Exeter Resource Corporation in October 2002. Exeter Resource Corporation was incorporated in 1984 and is headquartered in Vancouver, Canada.

17 Employees
Last Reported Date: 03/30/15
Founded in 1984

exeter resource corp (XRC) Top Compensated Officers

Chief Executive Officer and President
Total Annual Compensation: C$350.0K
Chief Financial Officer and Principal Account...
Total Annual Compensation: C$250.0K
Vice President of Development & Operations
Total Annual Compensation: C$249.1K
Compensation as of Fiscal Year 2014.

exeter resource corp (XRC) Key Developments

Exeter Resource Corporation Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Exeter Resource Corporation announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported interest income was CAD 72,000 against CAD 123,000 a year ago. Net loss was CAD 1,772,000 against CAD 2,538,000 a year ago. Basic and diluted loss per share was CAD 0.02 against CAD 0.03 a year ago. The decrease in the loss in the second quarter 2015 compared to the previous quarter was mainly due to lower exploration expenditures in the second quarter due to the completion of the water exploration program early in second quarter and stock exchange filing fees incurred in the first quarter of approximately CAD 122,000. For the six months, the company reported interest income was CAD 160,000 against CAD 262,000 a year ago. Net loss was CAD 4,719,000 against CAD 5,356,000 a year ago. Basic and diluted loss per share was CAD 0.05 against CAD 0.06 a year ago. Cash flows from operating activities was CAD 5,433,000 against CAD 5,036,000 a year ago. Acquisition of property and equipment was CAD 9,000.

Exeter Completes Water Exploration Program

Exeter Resource Corporation announce the completion of the expanded water exploration drilling program for its Caspiche gold-copper project in northern Chile. The Company successfully drilled one additional, large diameter water bore hole (LV07) at its Peñas Blancas1 water concession prior to the onset of winter conditions. LV07 returned water flow rates of over 100 litres per second, with rapid recharge rates, again demonstrating the significance of the Peñas Blancas aquifer. The aggregate flow rate from the six large diameter exploration wells completed is now over 400 L/s, considerably above Exeter's original target of +200 L/s. The ultimate, cumulative flow rate potential of the aquifer remains open. The water exploration program was expanded to better define the extent of the aquifer and determine potential flow rates that are integral to an application for water rights. Due to an extreme weather event in late first quarter, which caused heavy damage to local infrastructure in northern Chile, only one hole (LV07) of a planned two-hole program was completed before the onset of the Chilean winter. Drilling results suggest Peñas Blancas is part of a previously undiscovered, extensive, subterranean aquifer. It is located centrally within a high-altitude basin, where there are no other existing underground water rights. The extensive winter snowfall in the area is believed to be the source of recharge. The Company believes the aquifer could support any of the three identified low capex, development options for the Caspiche project as outlined in the Amended NI 43-101 Technical Report on the Caspiche Project ("2014 PEA"). Importantly, the aquifer could also provide an appropriate long term water resource for other potential users in this arid, largely unpopulated region of Chile. Exeter, augmented by its independent, external consultants has commenced a compilation of technical reports on the Peñas Blancas aquifer. These reports will form the basis of an application for water rights, which is expected to be submitted to the Chilean water authorities within the next three months. The 2014 PEA identified three new low capex development options, all of which required modest quantities of water compared with the requirements of a large scale open pit. The study calculated that a 30,000 tonne per day ("tpd") standalone gold oxide operation would require a peak water supply of less than 50 L/s. This option produces an estimated average of 122,000 gold equivalent ounces annually over a projected ten year mine life, including 148,000 ounces annually in the first five years. The standalone oxide open pit mine plan benefits from lower up front capital requirements and sequenced higher start up grades in the initial part of the mine life. In addition, a very low life-of-mine strip ratio (0.27:1) and favourable leach kinetics are positive contributors to the project economics. At USD 1,300/oz gold, pre-tax net present value is USD 355 million, generating an internal rate of return of 34.7%, and a payback period of 3.4 years from initial construction. The after-tax NPV is USD 252 million with an IRR 28.5%.

Exeter Resource Corporation Announces Unaudited Consolidated Cash Flows Results for the First Quarter Ended March 31, 2015

Exeter Resource Corporation announced unaudited consolidated cash flows results for the first quarter ended March 31, 2015. For the quarter, the company reported cash outflows from operating activities of CAD 3,002,000 against CAD 2,677,000 a year ago. Acquisition of property and equipment was CAD 5,000.


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