Excellon Resources

Excellon Resources Inc (TSX:EXN, OTCQB:EXNRF) said it continues to pursue its proposed acquisition of the past-producing La Negra silver-zinc-copper-lead mine in Mexico as challenging market conditions have caused the company to struggle to source financing associated with the purchase.  In January, the company announced that it had entered into a definitive agreement to acquire the mine for aggregate consideration of US$50 million, including US$20 million upfront in shares of the company and a further US$30 million payable in shares or cash following the restart of commercial production at the mine. » Mehr auf proactiveinvestors.com

Excellon Resources Inc shares climbed 22% to $0.45 on Monday after the gold, silver and base metals projects developer announced that it is considering various alternatives to complement the company's go-forward strategy, which could include acquisitions, divestitures, mergers or spin-offs of Excellon's or third parties' assets.   The company also said it will be reversing a US$22 million liability from its March 31, 2023, consolidated balance sheet as a result of the Mexican Bankruptcy Court declaring one of its care-and-maintenance subsidiaries bankrupt effective March 28, 2023, which Excellon noted is an “overhang that has been with the company since 2019. » Mehr auf proactiveinvestors.com

(Kitco News) - Excellon Resources (TSX: EXN) announced today that it has entered into a definitive acquisition agreement to acquire the permitted, past-producing La Negra Ag-Zn-Cu-Pb mine in Mexico for aggregate consideration of $50 million from an investment fund managed by Orion Resource Partners. » Mehr auf kitco.com