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Excalibur Resources (CSE:XBR) Acquiring Gold Stream in Peru and Announcing Financing

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Excalibur Resources (CSE:XBR) acquiring gold stream in Peru from open-pit mine with history of 35,000 ounces per year. Also proposing financing of 10 million shares at $0.02.

Additional Information:

Company: Excalibur Resources
Website: http://www.excaliburresources.ca
Stock Symbol: CSE: XBR
Date Published: Mar 7, 2016
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Excalibur Gold is planning to purchase a gold stream from an open pit gold mine in Peru.

Excalibur focuses on the acquisition, investment and development of small gold and silver mines.

The company’s unique strategy is the micro-mining of shallow, high grade, low capex, high margin, existing and historic gold deposits.

The open pit gold mine in Peru has averaged 35,000 ounces of annual gold production over the previous 4 years.

Excalibur plans to finance the gold stream purchase by a proposed 5 year debt offering with attached warrants.

Tim Gallagher, Chairman and CEO of Excalibur, stated: “After a long period of lack of interest and declining prices in the gold resource sector since the gold price peaked in 2011, it appears we are at the beginning of a new gold cycle, which could lead to record prices in the next 5 years as global gold production declines, while gold demand remains solid due to an uncertain global economic outlook and low or negative interest rates for the foreseeable future. We believe this is an ideal time to be investing in an existing gold cash flow project with a strong growth profile."

The company also announced a non-brokered private placement of up to $200,000 through the issuance of 10 million shares at $0.02.

The funds will be used for due diligence, marketing and working capital in respect of the proposed transaction.

The shares are trading at $0.02, and with 82.9 million shares outstanding, the company is capitalized at $1.7 million.

For more information, please visit the company’s website www.excaliburresources.ca, or contact Tim Gallagher, Chairman & CEO, at 416-925-0090 or email info@excaliburresources.ca.

I’m Samantha Deutscher for Investmentpitch Media