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Excellon Resources ( (TSE:EXN) ) just unveiled an update.
Excellon Resources Inc. has announced a brokered private placement to raise up to C$5 million, with Eric Sprott making a lead order. The proceeds will be used for the development of the Mallay Mine, working capital, and general corporate purposes. Additionally, Excellon plans to list its common shares on the TSX Venture Exchange, which is expected to be more beneficial for the company and its stakeholders due to cost considerations and market suitability.
Spark’s Take on TSE:EXN Stock
According to Spark, TipRanks’ AI Analyst, TSE:EXN is a Underperform.
Excellon Resources’ overall stock score is low due to persistent financial instability, negative income trends, and poor valuation metrics. While recent corporate events show potential for future growth, the company must address its operational inefficiencies and financial challenges to improve its standing.
To see Spark’s full report on TSE:EXN stock, click here.
More about Excellon Resources
Excellon Resources Inc. operates in the mining industry, focusing on the development and exploration of mineral resources. The company is primarily engaged in the production and sale of precious metals, with a market focus on advancing its mining projects.
YTD Price Performance: 35.00%
Average Trading Volume: 253,064
Technical Sentiment Signal: Hold
Current Market Cap: C$18.58M
For detailed information about EXN stock, go to TipRanks’ Stock Analysis page.