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Excellon Resources ( (TSE:EXN) ) has issued an update.
Excellon Resources has restarted underground mining at its Mallay silver-lead-zinc mine, re-establishing mining and haulage cycles on the 4090 and 4150 levels and initiating stockpile build-up as part of a staged ramp-up to full production. The company has also identified a promising “Footwall Zone” of calc-silicate-hosted mineralization adjacent to the main Isguiz vein, which could materially widen mineable widths and enhance productivity, supported by early metallurgical testwork indicating it can be blended with existing ore sources; a 10,000-metre drill program and ongoing dewatering to access deeper levels are underway, positioning Mallay for expanded resource potential and a smoother, more flexible restart.
The most recent analyst rating on (TSE:EXN) stock is a Hold with a C$0.60 price target. To see the full list of analyst forecasts on Excellon Resources stock, see the TSE:EXN Stock Forecast page.
Spark’s Take on TSE:EXN Stock
According to Spark, TipRanks’ AI Analyst, TSE:EXN is a Neutral.
The score is held down primarily by weak financial performance (zero recent revenue, persistent operating losses, and ongoing cash burn). Offsetting factors are improving technical trend signals and positive operational updates around funding, rehabilitation, and restart/exploration plans, but valuation remains constrained by losses (negative P/E).
To see Spark’s full report on TSE:EXN stock, click here.
More about Excellon Resources
Excellon Resources Inc. is a Toronto-based mining company focused on silver, lead and zinc, with operations centered on the past-producing Mallay mine in Peru. The company targets high-grade polymetallic vein systems, aiming to restart and optimize production through staged mine rehabilitation, development and exploration drilling.
Average Trading Volume: 1,777,725
Technical Sentiment Signal: Buy
Current Market Cap: C$193.8M
For an in-depth examination of EXN stock, go to TipRanks’ Overview page.