RE: FWIWDennis Wheeler writes a PM advisory letter. Hard copy once a month & E mail twice a week. I was using a bootleg copy until he made me so much cash I became embarrassed & bought a subscription. ($140?)
About EXN, he said yesterday;
I also have a new buy recommendation this month. The company
is Excellon Resources (EXN:TSX Venture, C$.22). It has just
started a test mining operation at the Platosa-Saltierra mine
in Durango, Mexico. The known ore body is very small, but
it's very high in grade as well. The 65,000 tonnes of known
ore holds nearly 80 OPT silver, 15.2% lead, and 11.9% zinc.
At present there's only a one-year mine life. But in that
year Excellon hopes to make as much money as its current
market capitalization – US$20 million. Of course, the company
knows there's more ore in the ground at Platosa-Saltierra.
The drillers have found it. They're working to find more and
there may be much, much more, as this property is in the
neighborhood where large silver deposits routinely exist.
In short, because of the production and coming earnings, I
don't think there's much downside here. And if exploration
efforts find the big silver deposit the company thinks is
there, then this stock could soar. There are 110 million
shares outstanding and that's a lot. Still, I think Excellon
is a great buy at the current price and up to C$.30.
Warning's. (1) Do your own DD, & (2) I now own some EXN.
Regards, Nelson 3