Dallas, Texas 12/27/2013 (FINANCIALSTRENDS) – Exeter Resource Corporation (NYSEMKT: XRA) has since grown from strength to strength ever since its inception in Vancouver, in Canada. The mining company has grown around the excellent prospects it holds in the -Caspiche gold mine – located off Northern Chile.
Exeter Resources have been, quite a young but one of the most successful miners in the South American continent and now the company proposes to concentrate entirely on its Caspiche Project.
Exeter sitting on a gold mine, literally
Exeter Resource Corporation (NYSEMKT: XRA) is one of the few new age companies which have high deposits of gold. At the Caspiche unit, it is predicted that the potential for this mine is more than 35million ounces.
Additionally, the success of this mine for Exeter is that it holds large quantities of Copper deposits as well. Competitor mines in the region- Kinross, Andina, Barrick, Goldcorp operate in the region, but are not expected to hold such high deposits.
In recent times, Exeter Resource Corporation is conducted a feasibility study to evaluate the potential for Caspiche deposits. Currently, the mine is divided into two: Oxide pit and Sulfide pits.
A study has proved that oxide deposits are richer in the mine and based on these strengths, chosen to mine individually. It therefore owns the company 100% and does not rely on any third parties. The cash flow was fast and easy, earning profits of $300 million. Additionally, the company expects to re-utilize its existing infrastructure on the gold mine for the sulphide project as well. The capital investment for the oxide project would help in starting off the Sulfide deposit operations, ensuring high profits.
Exeter Resource Corporation (NYSEMKT: XRA) is a 44.20 million market cap company and operates at $1.49 high and $0.49 lows. The volume in which it currently trades is 678,140.