(Yahoo Finance)

(Yahoo Finance)

Exeter Resource Corp (XRC:TSX) was up 50% in early trading and closed up 22% with abnormal volume on no news today.  Exeter has been advancing the very large, but costly Caspiche gold/copper porphyry in Chile which boasts 19Moz Au and 4.62Bn lbs Cu in reserves which ranks it in the top 1% of global gold deposits, by size.  The company is in the currently out of favor ‘un-funded developer’ category and is in the penalty box as a result.  With an enterprise value of approximately $20 million and the stock being on a steady decline for three years from a high of $7.50/share to the current $0.92/share, the story needs some life pumped into it.  In recent news, the company announced a JV for the exploration costs associated with sourcing water for the Caspiche project which is located in one of the driest places on Earth, the high Atacama Desert.  The company put out the standard “does not say why trading is up” news release today.