Excellon Resources Inc. (TSX: EXN) (NYSE American: EXN) (FRA: E4X2)
has announced its second-quarter 2021 financial numbers, along with operational highlights. The company has reported an increase of revenues to $9.7 million, compared with less than $1 million in Q2 2020, and a gross profit of $2.1 million, compared to a loss of $2.6 million in the same period in 2020; the gross profit is an increase of 16% over Q1 2021 numbers. The company also reported total cash cost net of byproducts per silver ounce payable has decreased to $11.96 and all-in sustaining cost (“AISC”) per silver ounce payable decreased to $26.69. The report also noted that production cost per tonne had decreased. Excellon also reported that this is the fourth consecutive quarter that the company had mined and milled more than 21,000 tonnes, with record tonnes mined and milled over a trailing 12-month period. In addition, exploration expenditures increased for the company to $1.8 million, with plans to commence drilling and add a second rig at Silver City in Saxony, continue surface and underground drilling on multiple targets at the Platosa Mine and broader property, and commence drilling at the company’s Oakley Project. “We realized another good quarter at Platosa, with financial results partially impacted by delayed processing and delivery of ore and concentrate at the quarter-end by weather conditions,” stated Excellon Resources president and CEO Brendan Cahill. “The operation delivered good improvements in cost-per-tonne and cash costs, while AISC was higher in the quarter due to sustaining capital expenditures, a part of which had been deferred from earlier periods. Most importantly, we continued to ramp-up exploration on our projects, with Platosa ongoing and Silver City and Oakley getting started. We look forward to drilling results from our resource growth and discovery-focused projects through the remainder of the year.”
To view the full press release, visit https://ibn.fm/lI6DL
About Excellon Resources Inc.
Excellon Resources has a vision to create wealth by realizing strategic opportunities through discipline and innovation for the benefit of our employees, communities and shareholders. The company is advancing a precious metals growth pipeline that includes the following: Platosa, Mexico’s highest-grade silver mine since production commenced in 2005; Kilgore, a high-quality gold development project in Idaho with strong economics and significant growth and discovery potential; and an option on Silver City, a high-grade epithermal silver district in Saxony, Germany, with 750 years of mining history and no modern exploration. The company also aims to continue capitalizing on current market conditions by acquiring undervalued projects. For more information about the company, please visit www.ExcellonResources.com
NOTE TO INVESTORS:
The latest news and updates relating to EXN are available in the company’s newsroom at https://ibn.fm/EXN
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