Our Top Pick #8 for 2012 is…

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Top 10 Mining Stocks 2012 – Pick #8 Excalibur Resources

 

Symbol:  XBR (CNSX)
Share price: 10 cents (Close on Jan 11 , 2012)
Shares outstanding: 45,560,965
Market cap: 4,784,000

 

Excalibur Resources 1yr chart

 

Excalibur Resources is a potential high risk/high reward stock for 2012.  The company hopes to start gold production from its Minera Catanava project in Mexico. The plant is permitted and is currently under construction. Excalibur is hoping to produce at a rate of 250 tons per day generating 20,000 ounces of gold in 2012. If they can execute this it will be a game changer for the company. The company is currently only listed on the CNSX so it is hard to get shares but they plan on a TSX-V listing in 2012.

To see a video on the construction process please click here .

Things to note:

-The company does not have much cash. They did do a financing for $353,000 in December but will this be enough to carry them into production?

- They have a unique goal of paying a dividend in cash or gold to shareholders

- The company is not listed on the TSX V because they do not have a 43-101

 

Potential catalysts in 2012 include:

1) Start of production in Mexico

2) A listing on the TSX venture

3) A potential dividend?

 

More to come on Excalibur Resources and 7 more top picks!