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Additional Information
Market: TSX, AMEX
Sector: General Mining - Gold
EPIC: XRC
Latest Price: C$2.05  (-1.21% Descending)
52-week High: C$5.40
52-week Low: C$1.72
Market Cap: C$180.86M
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Exeter Resource Corporation
www.exeterresource.com

Exeter, a Canadian exploration company, controls 100% of the world class Caspiche gold-copper discovery in Chile. The Company has a treasury of $74 million and no debt.

Full Exeter Resource Corporation profile here
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Exeter Resource's equity financing increased to $57.5m as over-allotment options exercised

12th Nov 2010, 3:41 pm

Exeter Resource Corp (NYSE-AMEX:XRA, TSX:XRC, FSX:EXB) said Friday that its recently closed equity financing has increased in size to C$57.5 million, after over-allotment options were used by a syndicate of underwriters.

The underwriters, led by Canaccord Genuity, have exercised the over-allotment option and acquired an additional 1.2 million common shares of the company for gross proceeds of C$7.5 million, bringing the total amount of proceeds from the financing to C$57.5 million.

The company said it will use the new funds to advance its Caspiche project in Chile, which sits in-between Kinross Gold (TSX:K, NYSE:KGC) and Barrick Gold's (TSX:ABX, NYSE:ABX) Cerro Casale gold deposit and Refugio Mine, also controlled by Kinross.

Specifically, the proceeds will finance a project prefeasibility study, certain infrastructure contracts, drilling to facilitate advanced mine optimization studies, additional metallurgical testwork and process design studies, as well as follow-up drilling on exploration targets in the area.

Caspiche is a gold-rich porphyry system with significant copper credits. In September, the measured and indicated resource at Caspiche was 1.316 billion tons averaging 0.5 grams per ton gold and 1.14 grams per ton silver, with 1.217 billion tonnes of the resource also containing an average copper grade of 0.20%.

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