Excellon Resources Management and BODI would like to think Excellon's mgmt and BOD are working for we shareholders' interests, but all visible evidence indicates that isn't the case. Also Excellon does a horrid job of communicating with the market so it's very difficult to get a sense of what is being accomplished.
A few of my many frustrations with Excellon:
1. They gave away controlling interest for the forgiveness of c$10milion in Debenture debt? Definitely not in shareholder interest. I wonder who owns these Debentures???? Seems like a sweet heart deal for Debenture holders at our expense.
2. They make a big deal out of lining up two meager tranches of financing (proceeds around $2mliion) which will fund the inflated salaries for this."management group". The financing isn't enough to fund any kind of exploration or operation.
3. They said previously they were going to spin off Silver City to existing shareholders, but like most of their goals and objectives that never was accomplished...and no explanation why not.
4. Excellon spent years and tons of money on the Mexican Silver operation, billed as the highest quality Silver operation going. After spending a lot of money and time dewatering the mine, and after losing a $20million plus suit they closed this "Company Saving" operation,...a total failure and no one was held accountable!
5. While Excellon's competitors have had reasonable profitability over the past 10 years, Excellon has done nothing but run through large amounts of money, fail to accomplish established objectives, and report nothing but large losses for their efforts.
i could go on and on but suffice it to say that Excellon's mgmt and BOD has failed us as shareholders.