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Stock Pick: Excellon Resources Inc. (TSX EXN) Mexico’s Highest Grade Silver Producer

After weeks of examining about 50 mining companies, today we bought shares of Excellon Resources @ CA$0.99 We have made a second stock pick as well, but our buy order today was to low. We will try to buy shares again on Thursday. When we manage to do so, we will announce our second pick! The text below is from the Excellon website.

Excellon is a mineral resource company operating in Durango and Zacatecas States, Mexico, is committed to building value through production, expansion and discovery. The Company is producing silver, lead and zinc from high-grade manto deposits on its Platosa Property, strategically located in the middle of the Mexican silver belt. In fiscal 2010, Excellon’s focus remains on increasing its Mineral Resources at Platosa through an aggressive exploration program, and working towards expanding its operating capacity to maximize the value of the Miguel Auza mill acquired in 2009. The Platosa Property, not fully explored, has several geological indicators of a large carbonate replacement deposit (CRD) mineralized system, the tracking of which Excellon believes will lead to the discovery of a world class deposit. At Miguel Auza, located in the northern portion of the Zacatecas-Fresnillo silver belt, an initial exploration program to evaluate the potential of this largely underexplored property, the site of considerable historic and recent production from epithermal precious and base metal veins was completed in September 2010.

Click here to download the investor presentation of December 1 from the company website.

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