EXN.T I would buy it here anywhere near $1.15 and did add myself last 2 days. I spent an hour typing up a book for the board here yesterday and lost it due to computer crash. Ill resummarise briefly. Remember I touted this in the low .20s through Nov Dec Jan as a no brainer. It went 6x in 3 months time. Things have settled and changed. I know this story well.
Going forward, the de weatherization program will show up on the operation and financial quarterlys incrementally starting now. That alone will move the shares. Bottom line is 4 million oz AgEq production at AISC of between $6 and $9 depending on how FX and lower energy improve from the PEA is going to start weighing in now.
Eric Sprott recently put in his own money, and since than, just set up an over subscribed bought deal financing for another $13m. Excellon did not need the money. They could have moved forward from CF and the initial financing for the dewatering project that was separate from Erics. I tried to get in last week because I wanted the half warrant, but was to late. I was told, there are people only getting 40% of the shares they wanted.
Eric is interested in the following up on the CRD Carbonate Replacement Deposit that Excellon was working on when they share price was $8 right before POS forced them to stop. CRDs are the deposits that the big boys in Mexico all have and will provide multiple 1000s of tpd production for 20 - 40 years. This was always my secondary reason for liking Excellon but its coming into play early because Sprott is driving it. The reality is hes looking to drive up the value of his Excellon shares by pushing forward the exploration by providing the cash. The following is my opinion but based on much DD.
The CRD being there is inevitable, it has to be there based on results so far. Its a matter of continuing with where they started. Driven by Erics money, which is enough, drilling will be mobilized fast. This will be a large share price driver as the results come in and the market see this as a catalyst. The large near term coming CF increase, was always inevitable after the dewatering program started and the reason for the 5X rerating after the market caught on.
At a MC cap of $62 million, the market doesn't see this. Excellon is my horse again for the next 6- 12 months.
Because the ask came down to $1.14, I added again at the ask while writing this article.
Checkmate28
