EXN.T EXLLF up 25% Was a no brainer sitting at the 52 week low. Todays PR was business as normal, but looks like some noticed the low costs today.
"Production during the first two months of the third quarter was solid, with costs trending significantly lower," stated Brendan Cahill, President and Chief Executive Officer. "During August, we milled over 8,500 tonnes, a monthly record, at net cash costs of $2.52 per ounce, demonstrating Platosa's potential to significantly improve its cost profile with higher production rates. Unfortunately, a transformer failure in mid-September complicated water management in the 6A and Guadalupe South mantos and limited production during the month, which impacted production totals and costs for the quarter. Production is now returning to normal and development continues into the higher grade 623 and Rodilla mantos."
Unfortunately the transformer problem is going to effect Q3 numbers. Reason being is the their production is from an aquifer and controlling the water is important.
On the upside, they are in a higher grade mantos for awhile. That will push the numbers higher for q4. Another bonus is the higher prices they are receiving from the Zinc production.
Still a great low risk company to have while metals trudge the bottom.
Checkmate28
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