Excel Gold Mining (EGM, TSX-V) has struggled the past couple of months but showed some life today as it reversed from a low of 10.5 cents and closed at 13.5 cents, its high of the day. Excel is down 16% since we introduced it to BMR readers in early October (the only stock in our model Portfolio that has actually declined in value). We have stuck with this situation, however, as the company is an excellent turnaround candidate and has a valuable asset in its Montauban Mining Camp Project (Gold, silver and base metals) – drilling started last month. Excel has great potential but it’s obvious that investors are going to have to be patient with it. John provides a brief technical analysis in the chart below:
Thanks guys!
Comment by jeff — December 20, 2010 @ 10:27 pm