Exco Resources Limited (EXS)
Exco Resources Limited (ASX: EXS) is an Australian gold and copper exploration and mining company focused on developing its portfolio of projects in Northwest Queensland and South Australia.
In Northwest Queensland, Exco holds a sizeable land package in the highly prospective Mt Isa Block, which is separated into two main project areas. The Cloncurry Project covers over 1920km2 and includes five JORC compliant resource deposits. The Hazel Creek Project is situated approximately 90kms north of Cloncurry and incorporates a large area of prospective land that remains relatively unexplored. In 2004 Exco moved to full ownership of the Hazel Creek project area and has confirmed the prospectivity of the area through the discovery of several key prospects.
In South Australia, Exco retains an interest in the White Dam Gold Production Joint Venture and Drew Hill Exploration Joint Venture with joint venture partner Polymetals Mining Ltd, the manager of both joint ventures. Since pouring first gold in April 2010, production rates and margins from White Dam have been above expectations. The project has produced in excess of 130,000oz of gold to December 2011 and the recent decision to proceed with the Vertigo Project will ensure production continues well into 2012. In addition near mine and regional exploration is ongoing at Drew Hill.
Additional Research
Fox Davis Capital Flash Note, Exploration Update 16 Feb 2012
Fox Davis Capital Flash Note, Mt Colin Resource Upgrade 14 Sept 2011
Fox Davis Capital Research Note, Sale of CCP Approved 10 Jun 2011
Pattersons, Initiating Coverage 5 May 2011