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Excellon Resources Inc. T.EXN

Alternate Symbol(s):  EXNRF

Excellon's vision is to create wealth by realizing strategic opportunities through discipline and innovation for the benefit of our employees, communities, and shareholders. The company is advancing a precious metals growth pipeline that includes: Kilgore, an advanced gold exploration project in Idaho with strong economics and significant growth and discovery potential; an option on Silver City, a high-grade epithermal silver district in Saxony, Germany with 750 years of mining history.


TSX:EXN - Post by User

Comment by Marine2on Jan 07, 2022 4:06pm
191 Views
Post# 34294518

RE:Total capitulation down 13% on high volume !

RE:Total capitulation down 13% on high volume !Just for everyon's info as to what may be happing ?

Excellon Reports Third Quarter 2021 Financial Results

Toronto, Ontario – November 16, 2021 –

 

The Company’s assets in Mexico, including those held in San Pedro, are security for the Convertible Debentures. The Company is monitoring and assessing whether the Judgment and actions taken by the plaintiff to date in connection with enforcing the Judgment could be considered to constitute an event of default under the trust indenture dated July 30, 2020 governing the outstanding Convertible Debentures (the "Indenture"). 

While the Company does not consider that an event of default has occurred under the Indenture, the Debenture holders may try to take the position that an event of default has occurred under the Indenture

An event of default under the Indenture, if not cured or waived, could result in the acceleration of all the Company's debt under the Debentures and could materially and adversely affect the Company’s future operations, cash flows, earnings, results of operations, financial condition and the economic viability of its projects. 

San Pedro has not received any notice that the plaintiff has initiated any insolvency proceedings or any enforcement proceedings that could result in San Pedro losing control of the toll milling operations.

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If this happens it will be a no win for everyone. IMHO

M2

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