Excellon Resources Secures C$8 Million in Private Placement to Advance Mallay Mine

The latest announcement is out from Excellon Resources ( (TSE:EXN) ).

Excellon Resources Inc. has successfully closed a brokered private placement, raising C$8 million in gross proceeds, which includes the full exercise of the agents’ option. The funds will be used to advance the development of the Mallay Mine and for general corporate purposes. Notably, Eric Sprott made a significant investment, increasing his stake in the company, which could enhance Excellon’s market position and investor confidence.

Spark’s Take on TSE:EXN Stock

According to Spark, TipRanks’ AI Analyst, TSE:EXN is a Underperform.

Excellon Resources faces major financial hurdles, highlighted by consistent losses and operational inefficiencies. While technical indicators show some positive momentum, and corporate events highlight potential growth, poor valuation metrics and legal challenges underpin a low overall score. Financial stabilization and operational improvements are critical for positive reevaluation.

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 exploration and development of mineral properties. The company is primarily engaged in the production of silver, lead, and zinc, with a market focus on advancing its mining projects such as the Mallay Mine.

Average Trading Volume: 307,233

Technical Sentiment Signal: Sell

Current Market Cap: C$20.26M

Find detailed analytics on EXN stock on TipRanks’ Stock Analysis page.