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Excellon Resources Inc T.EXN

Alternate Symbol(s):  EXNRF

Excellon Resources Inc. is engaged in the acquisition of advanced development or producing assets. The Company is advancing a portfolio of gold, silver and base metals assets including Kilgore, an advanced gold exploration project in Idaho, and Silver City, a high-grade epithermal silver district in Saxony, Germany. The Kilgore project is an epithermal gold deposit which covers over 6,788 hectares, located in Clark County, Southeastern Idaho. The Silver City Project, a high-grade epithermal silver district in Saxony, Germany totaling over 340 square kilometers (km2). The Company also has an agreement to acquire the past-producing Mallay Silver Mine and Tres Cerros Exploration Project in Peru.


TSX:EXN - Post by User

Comment by silverforeveron Jul 28, 2022 3:22pm
182 Views
Post# 34857910

RE:RE:This needs to be resolved !!

RE:RE:This needs to be resolved !!IMO the US$22.2 million "provision" is a direct result of Excellon's CEO's negligence or worse. That being said, all it takes is an accounting change, taking San Pedro into bankruptcy, removing the US22.2 million 'provision' from Excellon's books and replacing it with a $1.5 million loss( San Pedro book value) and the problem goes away. IMO that will be the ultimate outcome and should have been done the day after the judgement was announced in 2019 arguably saving shareholders close to US$100 million in financial loses. When that is done, Excellon's stock price should go up multiple times immediately. In the meantime, Excellon's CEO elects to destroy shareholder value and at the same time help those who want to buy Excellon's stock at the lowest prices possible. IMO that goes way beyond negligence.
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