Greg McCoach says buy Excellonhttps://www.theaureport.com/pub/na/greg-mccoach-says-keep-the-best-and-dump-the-rest
Greg McCoach Says Keep the Best and Dump the Rest
TICKERS: CZN; CZICF, CXO, EXN; EXLLF, REX, SVL; SVLC, TK; TLD; TKRFF
Source: Kevin Michael Grace of The Gold Report (10/9/13)
Greg McCoach, publisher of Mining Speculator newsletter, is not ashamed to admit he has taken a big hit in juniors in the last couple of years. What he has done in response is what he advises all investors to do in this interview with The Gold Report:Get rid of the also-rans and keep and build positions in those companies that have what it takes to gain in multiples when the market recovers. And he suggests six companies that could do just that.
TGR: Let's talk about Buy recommendations in Mexico.
GM: Excellon Resources Inc. (EXN:TSX; EXLLF:OTCPK) is also in a good situation. The company has money in the treasury. Excellon is paying for the drilling with profits from production at its La Platosa project in north-central Mexico, right in the main silver belt. I've always believed that Excellon is in control of its own destiny. The company just has to keep doing what it has been doing in hopes of hitting the source of all the known mineralization it has already uncovered.
The big play, the big blue-sky upside potential in Excellon, is that it is paying for all the exploration work with its own funds, without further dilution of current shareholders. It doesn't matter how bad the market gets; this is a very high-grade situation. Even if silver prices go to $5/oz, Excellon could still probably make money at that level. That's because it has negative cash costs when you consider the high-grade lead and zinc that goes along with the silver