RCKS talk

Wednesday, September 20, 2017 Derek Macpherson

RCKS Charts: WRN, SBB, RIC, PG and EXN

Download Report

In this edition of RCKS Charts, Keith has evaluated Western Copper and Gold Corp. (TSX: WRN), Sabina Gold & Silver Corp. (TSX:SBB), Richmont Mines Inc. (TSX:RIC), Premier Gold Mines Ltd. (TSX:PG) and Excellon Resources Inc. (TSX:EXN).  read more


Monday, September 11, 2017 Derek Macpherson

RCKS Charts: Gold, Copper, EXN, KL & SIR

Download Report  

In this edition of RCKS Charts, Keith has evaluated Excellon Resources Inc. (TSX:EXN), Kirkland Lake Gold Ltd. (TSX:KL) and Serengeti Resources Inc. (TSXV:SIR) along with the gold and copper charts.  read more


Wednesday, September 06, 2017 Derek Macpherson

EXN Intersects High Grades; Accessible by End of Year

Download Report

Excellon Resources Inc. (TSX:EXN) reported high grade results from ongoing exploration at its Platosa Mine in Mexico. Results were highlighted by hole EX17UG330, returning 1,203 g/t Ag, 9.3% Pb and 13.4% Zn 2,255 g/t over 11.1m, including 2,079 g/t Ag, 14.2% Pb, 23.9% Zn over 5.2m. Importantly, drilling discovered near mine mineralization, that connected and expanded the 623 and Guadaloupe South Mantos, which can be accessed by the end of the year. To date, 16,030m (139 holes) of drilling has been completed through the ongoing program. Excellon currently trades similarly to peers at 5.9x 2017e EV/CF versus peers at 6.3x 2017e EV/CF. Ongoing exploration should be an important catalyst for the company, as they highlight the potential to expand and grow operations in the near-term. read more


Tuesday, August 01, 2017 Derek Macpherson

EXN Q2 Financials Begin to Reflect Optimization Work

Download Report

Excellon Resources Inc. (TSX:EXN) reported improved Q2 2017 financial results, as the company began to experience the benefits of completing the optimization plan at Platosa. Although YoY costs are still higher and revenue is lower, on a quarterly basis the company’s financials have improved. QoQ revenue increased by 4.6% to ~US$3.6 million, while costs decreased; production costs per tonne by 14.5%, cash costs per payable Ag oz by 19.3% and AISC per Ag oz payable by 38.9%. In Q3 2017, the company noted it will produce from the Rodilla Manto, increase production from the Guadalupe South Manto and begin producing from the 623 Manto. For the remainder of 2017, the focus remains on ramping up production to 300 tpd, and to continue on the path to double production and cut costs in half. We view the results positively and believe the following quarters are likely to show incremental gains as the effects of dry mining conditions and overall improvements are realized. Excellon currently trades at a premium to peers at 8.7x 2017e EV/CF versus peers at 6.7x 2017e EV/CF. Ongoing exploration should be an important catalyst for the company, as they highlight the potential to expand and grow operations in the near-term. read more


Wednesday, July 26, 2017 Derek Macpherson

EXN Intersects High Grades Near Current Operations

Download Report  

Excellon Resources Inc. (TSX:EXN) reported positive results from ongoing exploration at its Platosa Mine in Mexico. Results returned high grades (hole EX17UG323 - 2,318 g/t AuEq over 6.76m) proximal to current operations which could be added to production in the near-term. In addition, drilling has expanded the 623 Manto, possibly connecting it to the Guadalupe South Manto, follow-up drilling is required. Approximately, 15,000m of the 25,000m program are complete, we expect further results to highlight the company’s potential to expand operations in the short-term and add meaningful ounces. Excellon currently trades at a premium to peers at 9.2x 2017e EV/CF versus peers at 7.2x 2017e EV/CF. We expect to see significant improvements in production over the remainder of the year, as operations continue under dry mining conditions. In the near-term, upcoming Q2 2017 financial results (July 31st, 2017) will be an important catalyst for the company, providing additional insight on the benefits of the optimization plan. read more


Thursday, July 20, 2017 Derek Macpherson

EXN's Q2 2017 Production Improves Post Optimization

Download Report  

Excellon Resources Inc. (TSX:EXN) reported positive Q2 2017 production results, subsequent to the completion of its optimization plan at its Platosa Mine in Durango, Mexico (Figure 1). In mid-June, the company achieved dry mining conditions the initial benefits of which were scene in Q2 results. In Q2 production increased in all metals, silver (~49%), lead (~39%) and zinc (~28%) as compared to Q1 2017. We expect the remainder of the year to be strong, as the company should be able to ramp up production. read more


Thursday, July 13, 2017 Derek Macpherson

EXN Ramps Up Under Dry Mining Conditions

Download Report

Excellon Resources Inc. (TSX:EXN) has successfully completed its optimization plan for its Platosa Mine in Durango, Mexico. Drier mining conditions allow the company to ramp up production rates and access the higher grades in the Rodilla and Guadalupe South Mantos. We expect to see a stronger H2 2017 as cash flow and profitability should improve materially. The company is planning to produce from six faces (Q3), and access the 623 Manto in the near term, more details are pending. Excellon currently trades at a premium to peers at 8.2x 2017e EV/CF versus peers at 6.6x 2017e EV/CF. We believe this premium only partially reflects the increased production and lower costs expected now that the optimization program is completed at Platosa. read more


Thursday, May 11, 2017 Derek Macpherson

EXN's Costs Increase as Optimization Nears Completion

Download Report  

Excellon Resources Inc. (TSX:EXN) reported weak Q1 2017 financials, as the company entered a period of increased spending supporting the ongoing optimization at its Platosa mine in Durango, Mexico. Due to challenging mining conditions and focus on optimization, production costs increased significantly QoQ by 11.19% (23.13% YoY). The optimization plan is 90% completed and water levels are lowering at a faster rate than initially forecasted. We expect to see a stronger H2 2017 as cash flow and profitability should improve materially. Excellon currently trades at a premium to peers at 1.22x NAV and 6.3x 2017e EV/CF versus peers at 0.87x NAV and 6.0x 2017e EV/CF. We believe this premium only partially reflects the increased production and lower costs expected once the optimization program is completed at Platosa.  read more


SUBSCRIBE TO HEAR FROM US

Gain access to exclusive mining industry research reports as well as additional mining industry information, promotional materials, press releases and news.

RCKS Talk Daily Analysis
RCKS News
LATEST POST
CATEGORIES
RELATED TAGS
ARCHIVES

 

RISK WARNING:

Red Cloud Klondike Strike Inc. is registered as an Exempt Market Dealer (EMD) in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland & Labrador, and Yukon.

 

By accessing this website you agree to be bound by our Terms of Use and Privacy Policy.

 

Red Cloud Klondike Strike Inc. connects mining companies with suitable investors that qualify under available regulatory exemptions. For example, in Canada, according to National Instrument 45-106, Prospectus and Registration Exemptions. Similar laws and regulations apply in other jurisdictions. Companies presented on this website are considered to be highly speculative and, as such, are suitable only for purchasers who can tolerate the highest level of risk including the loss of their entire investment.

© Copyright 2017 Red Cloud Klondike Strike Inc. All rights reserved.