EXN.T Excellon Resources. Trading at $17MC. I would call this Great buy today. I dont think the market sees where this is going. Todays financing was more than fair for a the $6 Million they need to fully pay for their de-watering project. They are going to tackle it for good and this turn around will happen fast.
First off, they projected needing $10M for the dewatering project. They now say $6M will do the entire project. The new IRR will be over 100% based on similar metals price today.
1,231 g/t Ag (1,766 g/t AgEq Thats almost 70 US ounces per ton.
The Company is currently accessing the periphery of the high-grade 623 Manto, hosting mineral resources of 83,000 tonnes at 1,231 g/t Ag (1,766 g/t AgEq), which is expected to reach full production during 2016 as ramps providing full access to the manto are completed.
Optimization Project: PEA Highlights
Base case of $17/oz silver, $0.90/lb lead, $1.00/lb zinc
2016 - 2019
$58.4 million cumulative net after-tax cash flow
• $6.02 average total cash cost per payable silver ounce
• $9.00 average all-in sustaining cost per payable silver ounce
They should be producing at $4Million AuEg oz very profitably somewhere mid 2016. The increased cash flow will allow them to follow up their drilling program that could change the company in a bigger way.
Checkmate28
