00:09:18 EDT Wed 26 Apr 2017
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Exeter Resource Corp
Symbol C : XRC
Shares Issued 88,660,253
Close 2017-04-13 C$ 2.44
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Lundin says tender Exeter Resource

2017-04-13 21:10 ET - In the News

Brien Lundin, in the April, 2017, edition of the Gold Newsletter, says tender Exeter Resource Corp., recently $2.30. Mr. Lundin previously said buy in August, 2015, at 46 cents and in March, 2017, at $1.42. Assuming a $1,000 investment for each of the two buys, the $2,000 position is now worth $6,617. Exeter recently accepted an all-share takeover offer from Goldcorp. The transaction, which will see 0.12 of a Goldcorp share issued for every Exeter share, values Exeter's stock at $2.58. The total purchase price is $247-million. Goldcorp is making the offer as part of a larger arrangement with Kinross and Barrick, whereby Goldcorp and Barrick will become 50/50 owners of Barrick's Cerro Casale project in Chile. Cerro Casale is just 10 kilometres south of Exeter's Caspiche project. Eventually, Barrick will become a 50-per-cent owner of Caspiche as well. Mr. Lundin is pleased with this outcome for Exeter. Given Goldcorp's liquidity, he reckons that Exeter's investors will have no problem turning their new Goldcorp shares into cash, if that is what they want to do. He adds that investors who share his bullishness on gold should consider putting their fresh cash into one of the other gold or precious metal stocks on his list.

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