Excellon Resources Inc (TSX:EXN, OTCQB:EXNRF) has provided an update on its efforts to restart the past-producing Mallay silver-lead-zinc mine in Peru, along with reporting its third quarter financial results. Excellon highlighted the completion of Phase One rehabilitation at Mallay, which included more than 2,800 metres of underground access restoration across the 4090 and 4150 levels.
Excellon Resources Inc (TSX:EXN, OTCQB:EXNRF) is preparing for a possible restart of operations at its Mallay silver-lead-zinc mine in Peru after completing the first stage of rehabilitation work and beginning preparations for definition drilling. The company said more than 2,800 metres of mine access have been rehabilitated across the 4090 and 4150 levels, while dewatering below the 4090 level is underway to support additional drilling and operations restart planning.
Excellon Resources Inc (TSX:EXN, OTCQB:EXNRF) has announced a brokered private placement of up to 40 million common shares at C$0.20 per share, targeting gross proceeds of up to C$8 million. The financing is being led by Red Cloud Securities and Velocity Trade Capital as co-lead agents and joint bookrunners.
Excellon Resources Inc (TSX:EXN, OTCQB:EXNRF) announced that it has mobilized a mining contractor and commenced underground rehabilitation activities at its Mallay Silver Mine in Peru. The company said the work is a key step in its plan to restart operations at the past-producing mine and return to silver production.
Excellon Resources Inc (TSX:EXN, OTCQB:EXNRF) shares moved higher as silver prices hit a 13-year high and as Red Cloud Securities initiated coverage on the silver miner with a ‘Buy (speculative)' and a C$0.52 price target. Shares of Excellon added 15.4% at C$0.38 in the early afternoon on Friday.
Excellon Resources Inc (TSX:EXN, OTCQB:EXNRF) said on Thursday it has appointed seasoned mining executive Mike Hoffman to its board of directors, bringing more than three decades of experience in engineering, operations, and project development across the Americas, as the company advances its Mallay project in Peru. Hoffman currently holds board positions at several mining companies, including NiCan Limited and Fury Gold Mines, and previously served as CEO of Crocodile Gold, Crowflight Minerals, and Kria Resources.
Excellon Resources Inc (TSX:EXN, OTCQB:EXNRF) announced that it has completed its acquisition of Minera CRC S.A.C., a Peruvian company holding 100% ownership of the Mallay Silver Mine and the adjacent Tres Cerros gold-silver exploration property.
Excellon Resources Inc (TSX:EXN, OTCQB:EXNRF) has reported progress in securing offtake-linked financing to support the restart of operations at the Mallay Silver Mine in Peru. The company has received multiple non-binding proposals from leading trading houses for zinc and lead concentrate offtake agreements.
Excellon Resources Inc (TSX:EXN, OTCQB:EXNRF) announced that new assay results from the Tres Cerros gold-silver project in Peru have confirmed the presence of a high-grade sulfidation epithermal system. Assays have confirmed gold values reaching 9.313 grams per ton (g/t) and silver grades exceeding 1,000 g/t.
Excellon Resources Inc (TSX:EXN, OTCQB:EXNRF) announced that it has finalized an agreement to acquire Minera CRC SAC, the owner of the past-producing Mallay Silver Mine and the Tres Cerros exploration property in Peru. This deal, reached with Adar Mining Corp and Premier Silver Corp, ensures Excellon will take full ownership of Minera CRC through a court-supervised process designed to resolve prior disputes.
Excellon Resources Inc (TSX:EXN, OTCQB:EXNRF) CEO Shawn Howarth talked with Proactive about the company's latest developments, including its recent acquisition of a past-producing silver mine in Peru. The mine, previously operated by Buenaventura from 2012 to 2018, has seen an investment of approximately $115 million in infrastructure, with 50 km of underground development.
Excellon Resources Inc (TSX:EXN, OTCQB:EXNRF) has closed an initial financing of approximately C$3.79 million to support its proposed acquisition of the Mallay silver mine and Tres Cerros gold-silver project in Peru. The Mallay Silver Mine, previously operated by Buenaventura from 2012 to 2018, received $115 million in historical investment and produced over 18 million silver-equivalent ounces before being placed on care and maintenance due to low silver prices.