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Excellon Resources ( (TSE:EXN) ) has shared an announcement.
Excellon Resources Inc. has announced an increase in its brokered private placement of common shares due to strong investor demand, raising the potential gross proceeds from C$8 million to C$11 million. The funds will be used for the development of the Mallay Mine, working capital, and general corporate purposes, potentially strengthening the company’s operational capabilities and market position.
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. is a company focused on acquiring and advancing precious and base metal assets. It aims to leverage its experienced management team to benefit its employees, communities, and shareholders. The company is particularly focused on the potential restart of the Mallay Silver Mine in Peru and holds a portfolio of exploration-stage projects, including the Tres Cerros Gold/Silver Exploration Property in Peru, Kilgore in Idaho, and Silver City in Germany.
Average Trading Volume: 1,174,335
Technical Sentiment Signal: Hold
Current Market Cap: C$56.5M
For a thorough assessment of EXN stock, go to TipRanks’ Stock Analysis page.