Denver Gold Group > Member Company Profile > Extorre Gold Mines
Address
P.O. Box 41, AXA Place, Suite 1660, 999 West Hastings Street
Vancouver, BC V6C 2W2
Canada
Value Drivers
- Aggressive Drill Program - Four Rigs Operating on the Cerro Moro property (two rigs drilling at the Zoe discovery and two rigs testing new vein targets).
- Large land package (+1600 sq km) in the mining friendly Santa Cruz province, Argentina
- Very High Grades - 60% of the deposit grades +35 g/t gold equivalent
- Environmental Impact Assessment received for 750 tpd at Cerro Moro, submission for an amendment with expanded throughput expected in Q2 2012
- Updated Preliminary Economic Assessment expected in Q1 2012
Management
| Chairman: | Yale Simpson & Bryce Roxburgh |
| CEO/President/MD: | Eric Roth |
| CFO: | Darcy Daubaras |
| COO: | Trevor Mulroney |
| Other Key Staff: | Cecil Bond, Louis Montpellier, Marina (Trasolini) Katusa |
IR Contact
Rob Grey
1-888- 688- 9512
rgrey@extorre.com
www.extorre.com/
Cautionary Information
© Copyright 2012, Denver Gold Group & Extorre Gold Mines.
Although every care has been taken to ensure that this data is accurate, Denver Gold Group cannot accept responsibility for sourcing variances, mistakes, errors or omissions or for any action taken in reliance thereon. Use of this data is governed by Denver Gold Group's Terms of Use. Certain information contained in this profile, including any information as to strategy, projects, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute "forward-looking statements". All statements, other than statements of historical fact, are forward-looking statements. The words "believe", "expect", "will", "anticipate", "contemplate", "target", "plan", "continue", "budget", "may", "intend", "estimate" and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of the Company to be materially different from the Company's estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. These risks, uncertainties and other factors include, but are not limited to: the impact of global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future cash flows; changes in the worldwide price of commodities and energy inputs; fluctuations in currency markets; changes in global and national interest rates; risks arising from holding derivative instruments; the ability of the Company to complete or successfully integrate an announced acquisition proposal; legislative, political or economic developments in the jurisdictions in which the Company carries on business; operating or technical difficulties in connection with mining or development activities; employee relations; availability and costs associated with mining inputs and the construction of capital projects; the speculative nature of exploration and development, including the risks of obtaining necessary licenses and permits and diminishing quantities or grades of reserves; changes in costs and estimates associated with the Company’s projects; adverse changes in the Company's credit rating, level of indebtedness and liquidity, contests over title to properties, particularly title to undeveloped properties; the risks involved in the exploration, development and mining business, including, without limitation, environmental hazards. Certain of these factors are discussed in greater detail in the Company's most recent regulatory filings with various national securities and other authorities. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
Extorre Gold Mines
American Stock Exchange : XG
Last Updated: March 1, 2012
| Status: | Developer |
| Primary Mineral: | Gold |
| Secondary Mineral: | Silver |
| Primary Country of Operation: | Argentina |
Extorre Gold Mines Limited is a Canadian public company listed under the symbol XG on the Toronto Stock Exchange (TSX) and the NYSE-AMEX Exchange.
Cerro Moro Gold-Silver Project, Argentina (100% ownership)
Cerro Moro is Extorre's flagship gold-silver property located in mining friendly Santa Cruz Province. Four drill rigs are operating on the property with the aim to expand areas of known mineralization and test new targets on the property. Last year drill holes on the Zoe Vein returned high grade to "bonanza" grade silver- gold mineralization. The maiden Zoe, Martina, Carla & Nini zones were incorporated into an updated resource estimate that was released November 3rd, 2011. This updated resource estimate is being incorporated into a preliminary economic study that will be release in Q1 2012.
On November 3rd, 2011 an updated NI 43-101 compliant mineral resource estimate was released for Cerro Moro:
Indicated Category: 1.35 million ounces gold equivalent* (7.4 g/t gold and 498 g/t silver, for a gold equivalent grade** of 17.4 g/t), plus
Inferred Category: 1.05 million ounces gold equivalent* (3.5 g/t gold and 172 g/t silver, for a gold equivalent grade** of 6.9 g/t gold).
The Indicated Category resource includes 757,000 oz gold equivalent* from the Escondida and Loma Escondida sectors at an average grade of 35 g/t gold equivalent*, and 267,000 oz gold equivalent* from Zoe at an average grade of 79 g/t gold equivalent*, grades that are considered exceptional by industry standards. The new resource included maiden mineral resources for the Zoe, Carla, Martina, and Esperanza Northwest-Nini sectors. The drill testing of further new targets at both the Cerro Moro project and on select Santa Cruz Regional prospects is ongoing.
*Gold equivalent grade is calculated by dividing the silver assay result by 50, adding it to the gold value and assuming 100% metallurgical recovery.
A Cerro Moro updated preliminary economic assessment is being performed by GR Engineering Services, Australia. The Study is scheduled for completion in the first quarter of 2012.
Cautionary Note: It should be noted that a Preliminary Economic Assessment is by definition preliminary in nature as it includes some mineral resources that are too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as reserves at this time.
Other Markets Traded On
XG:TSX
Top Shareholders
- OppenheimerFunds
- Sprott Asset Management
- JP Morgan Asset Management
- Van Eck Associates
- RBC Global Asset Management
Capital Structure
| Common Shares Outstanding: | 92,818,377 |
| Float (%): | 90 |
| Warrants Outstanding: | 120,000 |
| Options Outstanding: | 10,202,775 |
| Fully Diluted Shares: | 103,141,152 |
Stock as of April 24, 2012
| Local: USD | USD | |
|---|---|---|
| Stock Price: | 4.07 | 4.07 |
| 52-Week Range: | 4.0300 - 15.4200 | 4.0300 - 15.4200 |
| Market Cap: | 378 MM | 378 MM |
| Fully Diluted Market Cap: | 420 MM | 420 MM |
| 1-Year Return: | -56.98% |