Hate to post this ! Globe says Ker warns of "uncertainty ahead" at Excellon 2022-01-19 08:40 ET - In the News The Globe and Mail reports in its Wednesday, Jan. 19, edition that PI Financial analyst Phil Ker has lowered his recommendation for Excellon Resources to "neutral" from "buy," seeing "uncertainty ahead." The Globe's David Leeder writes in the Eye On Equities column that Mr. Ker's downgrade came in response to management's concerns over the economic viability of its 100-per-cent-owned Platosa mine in Mexico beyond the second half of this year. Mr. Ker cut his share target to $1.30 from $5. Analyts on average target the shares at $3.70. Mr. Ker says in a note: "Targeted ore stopes at Platosa are becoming more vertically orientated resulting in higher water table draw down rates and increased power consumption making effective mining of the deposits more challenging and costly. We had been modeling Platosa with a six year mine life attributing to 17 per cent of our calculated net asset value for Excellon. With uncertainty moving forward at Platosa combined with inadequate capital to advance its pipeline projects, we see increased execution risk and the potential for corporate and asset restructuring." 2022 Canjex Publishing Ltd. All rights reserved.