EXN.V trading 2.8xCF BASED ON Q313 from $21.40 avg POS W/$10.65 AICC. 2.4M AgEqoz run rate From EV less than $65m
Q3 Highlights
Net earnings of $3 million ($0.05/share)
Cash flow from ops of $4.8M ($0.09/share) before changes in working capital
Sales of 603,666 AgEq OZ (9-mos - 1,524,727 AgEq OZ), including 452,040 oz Ag, 1,969,259 lb Pb and 2,074,088 lb Zn
Net cash costs/Ag oz produced of $7.77 (9-mos - $8.77)
AICC per silver equivalent ounce sold of $10.65 (9-mos - $15.60)
Cash corporate administrative costs reduced by 37% versus Q2 2013
Nice touch, Salaries and wages, in particular, decreased by 32% and 44% relative to the 3-month and 9-month comparative periods of 2012
Working capital totaled $11.7 million at September 30, 2013
The Company believes that further decreases in production costs are attainable as, during the third quarter.
EXN proved they are safe in this low priced Silver env.
They are on the prowl for acquisition on the steal. Due to their high grades, nearly 1000g/t, they have 45% spare capacity from their mill plus US$21 million in loss carry-forwards
The market should catch on esp after another good Q
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