RE: RE: Excellon Insider sellsExcellon's market cap is about$245 millon
So,...$300.000 that makes about 0.081% so no biggie really.
I don't know how much % of Excellon insiders hold but I'm guessing it will be way more than 0.081%.
One thing I do know,...in these troubled times,...a company which can generate revenue,...as Excellon can and does with normal mining...those are companies which will do pretty well in either deflationary or inflationary circumstances.
So, drilling cast aside...this company has shown record revenue's and breaking most earlier Q1234 results.
So,...I'll forgive them but that doesn't mean I like insider selling.
Drills are still churning and turning and they will continue as long as they have funds. Seeing as their funds replenish from selling their silver...drilling can go on for quite some time.
And to be honest...at 0.90 - 1.00 this is dirt cheap for a producing silver miner.
I'm holding and will be adding on dips.
As to the holes not being hit...they need to drill deeper...and they will. They have no other option.
From the release
"The discovery of new high-grade massive sulphides in a poorly tested area close to mining infrastructure at Platosa is most encouraging and drilling is ongoing,” said John Sullivan, Excellon’s Vice-President of Exploration. “Drilling continues with four drills and we have begun a 3D IP (induced polarization) survey on a NW-SE trending corridor surrounding the mine. We expect the results will serve as a useful guide to spotting drill holes. At Miguel Auza we are pleased that the intercepts on several of the Madera Veins are showing the zoning we expect to see as we approach the potentially well-mineralized zones. We have confirmed that Miguel Auza hosts a large and complex
mineralized system and expect the combination of more drilling and regional and detailed geologic mapping will lead to outlining additional target areas.”
So,...I suppose we'll have to give them the benefit of the doubt for now and wait for some more results.
They have the finances to gob-drill-smack that property to oblivion.
I say...DRILL DEEPER and show us some Elephant material!
And...worst case...they still have their mine with a steady stream of silver and finances/revenue as a result.
And...most important....DON't FORGET...
Platosa remains one of thehighest grade producing silver, lead, and zinc deposits in Mexico.
There are worse stocks to be in. Don't sell for peanuts just because of one insider.
Good luck,
YeOld