EXCELLON PRODUCES 2.1 MILLION SILVER EQUIVALENT OUNCES IN 2013
Toronto, Ontario – January 16, 2014 –
Excellon Resources Inc. (TSX:EXN; OTC:EXLLF) ("Excellon" or the “Company"), Mexico’s highest grade silver producer, is pleased to announce fourth quarter and annual 2013 production results from the La Platosa Mine in Durango, Mexico.
Q4 and 2013 Production Highlights
2.1 million silver equivalent ounces (“Ag Eq Oz”) produced during 2013 (Q4 – 545,000 Ag Eq Oz), including:
1.4 million oz Ag (Q4 – 411,000 oz Ag)
7.3 million lb Pb (Q4 – 1.7 million lb Pb)
9.9 million lb Zn (Q4 – 1.9 million lb Zn)
Record annual produced and milled tonnage of ~70,000 tonnes, including record quarterly produced tonnes of ~20,000 tonnes in Q4
“During the latter half of 2013 we began to see the results of our continuing efforts to improve and optimize La Platosa production,” stated Brendan Cahill, President and Chief Executive Officer. “Of particular note, during the last two quarters of the year we milled almost 38,000 tonnes of ore grading 812 g/t silver for 866,000 silver ounces, demonstrating the potential to increase tonnage while maintaining an industry leading grade and cost profile.”
“Our teams at La Platosa and Miguel Auza deserve great credit for the significant improvements in production that were realized in the second half of the year. We aim to continue increasing our production profile and reducing costs into 2014, while further enhancing the foundation of our business – the health and safety of our workers.”
Excellon Reports Second Quarter 2014 Financial Results -
TORONTO, July 30, 2014 /CNW/ -
Excellon Resources Inc. (TSX:EXN; OTC:EXLLF) ("Excellon" or the "Company"), Mexico's highest grade silver producer, is pleased to report financial results for the three and six-month periods ended June 30, 2014.
Q2 2014 Financial Highlights (Compared to Q2 2013)
110% increase in revenue to $8.8 million (Q2 2013 – $4.2 million)
45% increase in payable ounces produced to 545,343 AgEq ounces (Q2 2013 – 374,207 AgEq ounces), the best quarter of AgEq production since Q1 2010
Mine operating earnings of $2.1 million (Q2 2013 – net loss of $1.8 million)
Net loss of $0.7 million or $0.01/share (Q2 2013 – net loss of $5.0 million or $0.09/share)
Improved cash flow from operations to $1.6 million or $0.03/share before changes in working capital (Q2 2013 – out flow of $3.3 million or $0.06/share)
Total cash cost per Ag ounce payable of $9.03 (Q2 2013 – $13.69) and $10.44 year-to-date
All-in sustaining cost ("AISC") per Ag ounce payable decreased to $14.59 (Q2 2013 – $30.64) and $15.98 year-to-date
20% increase in cash, receivables and marketable securities during the quarter to $10.9 million at June 30, 2014 ($9.1 million at March 31, 2014)
19% increase in working capital to $14 million at June 30, 2014 ($11.8 million at March 31, 2014)
"We continued to generate positive cash flow during Q2 despite another period of low silver prices," stated Brendan Cahill, President and Chief Executive Officer.
"Our all-in sustaining costs continued to improve this quarter and, with improved silver prices and higher grade mineralization ahead, we expect to continue building our cash position through the rest of the year.
We are also encouraged by the ongoing strengthening of zinc and lead prices, which currently contribute approximately 40% of our revenue and ensure low per ounce production costs on a byproduct basis."
Financial and Operating Highlights
Financial results for the three and six-month periods ended June 30, 2014 and 2013 are as follows:
('000's of USD, except amounts per share and per ounce)
Market Data 
Markets 
AI
