New to Excellon
Hi folks,
I bought a position in this stock a few months ago and took a much larger position today. Maybe I am missing something but this seems like a pretty decent play. Even if silver stays at these absurdly depressed levels, the company appears to be cash flow positive soon (albeit, I get things can change quickly at mines, particularly outside of North America or Australia).... Anyway, I'm blown away that this is now under $100M USD market cap, with $50M+ in free cash flow estimated between 2017-2020. That seems absurbly cheap. At $9 AISC, just imagine if silver goes up. And its hard to bet against Sprott, who now owns 25% on a fully diluted basis. He even bought at $2 CAD over the past few months. Maybe I am missing something but I'm in!