Thursday, February 02, 2017 Derek Macpherson

EXN Discovers New Zones Above the Water Table

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Excellon Resources Inc. (TSX:EXN) announced additional results from its ongoing 25 km drill program at its La Platosa mine in Mexico. To date 35 holes totalling 5.4km have been completed and the program is focused on expanding and better defining the existing resource, along with testing new near-infrastructure areas above the water table. Today’s results were highlighted by the discovery of three new mineralized zones above the water table, which are likely to benefit operations in the near-term. As well, hole EX16LP1107 intersected 795 g/t Ag, 25.85% Zn and 9.25% Pb over 3.0m and appears to have expanded the Pierna Manto to the North and the Rodilla Manto to the South. Excellon currently trades at a premium to peers on a NAVPS and 2017e EV/CF basis which likely reflects the expected cost and production improvements from the ongoing optimization program. read more

Tuesday, January 31, 2017 Derek Macpherson

EXN Ops Continue Transition with Ongoing Optimization

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Excellon Resources Inc. (TSX:EXN) reported Q4 and 2016 production results and provided an update on the ongoing optimization program at its La Platosa mine in Durango, Mexico. Production in Q4 2016 increased by 4% QoQ and 3% YoY on an AgEq basis when adjusting for metal price differences. Operations continue to be impacted by water management challenges, limiting development into higher grade areas; however, the company continues to progress its optimization program which is expected to be completed in Q1 2017, resulting in dry mining conditions in Q2 2017. The completion of the optimization program is the key step to accelerate development and increase production while reducing costs at La Platosa. read more

Thursday, November 03, 2016 Derek Macpherson

EXN’s Weak Q3 Not Reflective of Medium Term Potential

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Excellon Resources Inc. (TSX:EXN) reported its Q3 2016 financials which reflected the weak operating results and ongoing water optimization program at its La Platosa Mine in Mexico. As a result of the quarter’s reduced production levels, cash costs increased by 83% QoQ and 55% YoY to US$17.95oz Ag. All-in sustaining costs (AISC) also increased significantly by 112% QoQ and 159% YoY to US$33.92/oz. While these results reflect the company’s weak operating results from Q3, in our view we do not consider them to be reflective of the company’s medium term potential. Once the ongoing water optimization program is complete, the company anticipates production to double and costs to decrease by 50%. In our view both operations and financial results are likely to improve in the new year as the optimization program lowers the water level in the mine.  read more

Sunday, October 30, 2016 Derek Macpherson

EXN Ops are in Transition as Water Management Expected to Improve

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Excellon Resources Inc. (TSX:EXN) announced third quarter production and operational results, and provided an update on its exploration program at its La Platosa mine in Durango, Mexico. Ongoing development of the next Rodilla Manto level and suboptimal mining conditions caused by the high-water table impacted production which decreased 31% QoQ and 38% YoY. However, the company expects that the ongoing optimization and water management program may substantially improve operating conditions and production going forward as pumping capacity increases. Furthermore, Excellon provided an update from its ongoing 25,000m drill program which has intersected high grade mineralization near existing infrastructure.  read more

Tuesday, October 04, 2016 Derek Macpherson

RCKS Fall Mining Showcase Presenter Preview

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On Thursday October 6th, Red Cloud Klondike Strike Inc. will be hosting its 4th Annual Fall Mining Showcase. The event, that will offer attendees the opportunity to meet with a number of companies, features presentations from 20 companies and a buy-side discussion panel comprised of three of the industry’s most influential fund managers. Visit the event page for more details on the day’s schedule. In this post we provide a brief preview on the 20 presenting companies and 8 banner sponsors that will also be in attendance.  read more


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