Mackie Research - Updated Coverage - Excelsior Mining (TSXV: MIN) (OTCQX: EXMGF)

Following the announcement that the company had entered into a Share Purchase and Royalty Option Agreement with Callinan Royalties Corporation, analyst Barry Allan re-iterated his speculative buy rating, dropping his target price to $1.50 from $2.00, a healthy premium of 838% to the $0.16 price the day the report was issued.