Wow! An Exeter Resources (XRC.to) investment opportunity actually worth considering

I've had my issues about Exeter Resources (XRC.to) for a while (documented over the months on the blog), mainly because although the Cerro Moro project in southern Argentina has all the making of a good looking asset and eventually gold mine, the company continues to BS the world about the Caspiche dog thingy up in the frozen wastes of high Chile.

But news today is encouraging. Apparently XRC is mulling over the idea of spinning out Cerro Moro. If they do I'm a possible buyer, cos I've never been able to get over the idea of buying into that project and the large white elephant as well....but gimme a shot at Cerro Moro on its own and I'm listening to you, Yale.

The Prince of Morocco and Exeter Resources (XRC.v)(XRA)

In Bill the Quill's 'The Merchant of Venice', the beautiful Portia was being chased by a whole gang of suitors, one of which being the Prince of Morocco. Due to the way these things are (dead fathers' wishes and plot twists and stuff), at one point there are three boxes in front of the prince dude, one of which containing a portrait of Portia. If he picks correctly he wins her as his bride. The boxes are made of gold, silver and lead respectively and princedude picks the gold one. Inside? No picture of Portia (EpicFail) but a picture of death with the little ditty:

All that glisters is not gold
Often have you heard that told
Many a man his life hath sold
But my outside to behold
Gilded tombs do worms enfold

Portia and her decorative box (pardon the expression) came to mind when I read that Exeter Resources (XRC.v) (XRA) announced this morning it has an estimated 19.6m oz of Gold (plus silver and copper) at its Caspiche resource up in the wilds of Chile. We don't have a freakin' clue about how many of those ounces are economically recoverable (just check on the travails of Caspiche's near neighbours Kinross and the headaches they have trying to work out an economic plan) but we all like big numbers, don't we?

Whatever makes you think........

......that Wendell Zerb and Canaccord are all nice and snuggly with Exeter Resources (XRA) (XRC.v)?

Click to enlarge

Nothing to see here...move along now, please.......

Exeter (XRA): C'mon guys, keep buying......

.......because this is setting itself up as the short of the year.

Right now it's not a case of if but when I reverse on this thing, so first job is to watch and gauge and try to guesstimate just how far this thing will travel. When a suspect asset is so overhyped by the full Canadian pump machine the opportunity is just too good to miss. DYODD, but something around the U$4 point (as mentioned yesterday) is my idea of a killer short position.

Meanwhile, I'll leave you with a music video to ponder.