20:47:44 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Excellon Resources Inc (2)
Symbol EXN
Shares Issued 74,814,901
Close 2016-09-30 C$ 1.88
Market Cap C$ 140,652,014
Recent Sedar Documents

Lundin says hold Excellon Resources

2016-09-30 21:02 ET - In the News

Brien Lundin, in the September, 2016, edition of the Gold Newsletter, says hold Excellon Resources Inc., recently $1.74. Mr. Lundin said buy in July, 2015, at 51 cents and in February, 2016, at 27 cents. Assuming a $1,000 investment for each of the two buys, the $2,000 position is now worth $9,853. Excellon has risen from around $1 in late May, thanks to higher silver prices and optimism about its dewatering program at the La Platosa mine in Mexico. These benefits were also evident in the recently released second quarter financials. During the quarter, Excellon produced 368,568 ounces of silver equivalent and generated revenue of $5.4-million (U.S.), up from 341,975 ounces and $4-million (U.S.), respectively, in the same period last year. This allowed the company to eke out a $900,000 (U.S.) profit, compared with last year's loss of $1.8-million (U.S.). In addition to rising production, Excellon offers "blue-sky growth via the drill bit," says Mr. Lundin, pointing to the recent resumption of exploration drilling at La Platosa. The company is planning to drill 25,000 metres at targets near the mine. Mr. Lundin sees Excellon is a "strong hold" at current levels and a buy on weakness.

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