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Lundin refreshes Excellon Resources buy

2017-08-17 19:44 ET - In the News

Brien Lundin, in the August, 2017, edition of the Gold Newsletter, refreshes his buy of Excellon Resources Inc., recently $1.43. Mr. Lundin said buy three times from July, 2015, to June, 2017, at prices ranging from 27 cents to $1.39. Assuming a $1,000 investment for each of the three buys, the $3,000 position is now worth $9,126. Mr. Lundin is a fan of Excellon's "uber-high-grade" Platosa silver mine in Mexico. Water management problems have dogged the mine for years, but Excellon has just finished a dewatering program that should address those issues. Mr. Lundin thus expects much higher production from Platosa in the second half of 2017. The mine produced 289,566 ounces of silver equivalent in the second quarter of 2017, down sharply from 334,549 ounces a year earlier, a decrease that Mr. Lundin attributes to Excellon's prioritization of the dewatering program. With that program finished, Excellon is now "perfectly situated to provide leverage on rising silver prices," concludes Mr. Lundin. The stock is a "strong buy" at current levels.

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