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Wednesday, April 7, 2010

Exeter Resource (TSE:XRC) Looking for Buyers

Exeter Resource

Exeter Resource (TSE:XRC) has reportedly attracted significant interest in selling the company and its Caspiche gold-copper-silver project in Chile.

Along with some interest from the Chinese, other major gold companies interested are Newmont (NYSE:NEM), Barrick (TSE:ABX) and Kinross (TSE:K).

It could be a very good deal for either Kinross or Barrick, as they already have operations within 10 to 15 kilometers of the site.

To set up the sale of the company, Exeter spun off its Cerro Moro project - which produced gold and silver - into a new company.

The Caspiche project is a gold-copper porphyry system, which means it has similarities to some of the largest gold-copper mines in the world, which is a very attractive asset, which should ensure a sale sometime in the near future, with executives at Exeter thinking it could be sold by the end of the year.

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