Excellon Resources Upsizes Private Placement to C$6.5 Million

Excellon Resources ( (TSE:EXN) ) has shared an update.

Excellon Resources Inc. has announced an increase in its private placement offering due to strong investor demand, raising the gross proceeds target from C$5 million to C$6.5 million. The funds will be used for the development of the Mallay Mine and other corporate purposes, with the offering expected to close by May 2, 2025, subject to regulatory approvals.

Spark’s Take on TSE:EXN Stock

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

Excellon Resources’ overall stock score is low due to persistent financial instability and poor valuation metrics. While technical analysis and recent corporate events indicate potential for short-term gains and future growth, the company’s financial challenges and legal disputes weigh heavily on its prospects. Continued focus on financial stabilization and overcoming operational inefficiencies are essential for improvement.

To see Spark’s full report on TSE:EXN stock, click here.

More about Excellon Resources

Excellon Resources Inc. is focused on acquiring advanced development or producing assets with potential for growth. The company is involved in the acquisition of the Mallay Silver Mine and Tres Cerros Gold-Silver Exploration Project in Peru, and is advancing projects like Kilgore, an advanced gold exploration project in Idaho, and Silver City, a high-grade epithermal silver district in Saxony, Germany.

YTD Price Performance: 45.00%

Average Trading Volume: 288,306

Technical Sentiment Signal: Sell

Current Market Cap: C$19.96M

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