Excellon Resourc Stock Price, News & Analysis

Excellon Resources (OTC:EXNRF) has finalized an offtake and financing agreement with Glencore to restart its Mallay Silver Mine in Peru. The agreement includes up to US$7.5 million in secured funding through a Pre-Export Finance loan, with an initial drawdown of up to US$5.0 million and an optional US$2.5 million available until March 2026.

The loan terms include a SOFR + 5% interest rate and a six-month grace period following initial drawdown. The agreement also grants Glencore the right to purchase 100% of Mallay Mine's zinc and lead concentrates with silver by-product. The funds will support underground development, mill upgrades, and working capital needs to achieve commercial production.

Excellon Resources (OTC:EXNRF) is advancing towards restarting its Mallay Silver Mine in Peru, targeting nameplate capacity of 600 tonnes per day by Q2 2026. The company reports significant progress in mine rehabilitation, advancing 70-80 meters per day, with completion expected in 3-4 months.

The restart leverages a fully permitted processing facility representing over $115 million in historical investment. The company is finalizing an updated NI 43-101 Mineral Resource Estimate by end of August 2025, while pursuing two key exploration priorities: the Isguiz Vein extension and the newly identified gold-rich Shafra Zone, which has shown samples up to 62 g/t Au.

Additionally, Excellon is developing the nearby Tres Cerros Gold-Silver Project and evaluating options for its Kilgore Gold Project in Idaho and Silver City Project in Germany.

Excellon Resources (OTC:EXNRF) has initiated underground rehabilitation activities at its 100%-owned Mallay Silver Mine in Peru, marking a significant step towards resuming silver production. The company has mobilized an experienced underground mining contractor to focus on cleaning and reinforcing the main haulage levels, with rehabilitation expected to complete within four months.

The company aims to achieve nameplate capacity of 600 tpd production by Q2 2026. Key upcoming milestones include completion of an NI 43-101 Mineral Resource Estimate by August 2025, mine rehabilitation by November 2025, followed by development work, stope production preparations, and exploration drilling targeting high-grade vein extensions.

Excellon Resources (OTC:EXNRF) has announced significant corporate updates, including the appointment of Mike Hoffman to its Board of Directors. Hoffman brings over 35 years of international mining experience and currently serves as Chair of NiCan Limited and Director of multiple mining companies.

The company has filed a Technical Report for the Tres Cerros Au-Ag Project and Mallay Mine Property in Peru. Additionally, Excellon has engaged two investor relations firms: Capital Analytica ($120,000 for six months) and TB Investor Relations ($6,000 monthly). The company will issue 1,741,286 common shares to satisfy convertible debenture interest and plans to settle C$546,000 of debt through the issuance of 2,427,917 common shares.

Excellon Resources (TSXV: EXN) has completed the acquisition of Minera CRC S.A.C., securing ownership of the Mallay Silver Mine and Tres Cerros Gold/Silver Exploration Property in Central Peru. The Mallay Mine, previously operated by Buenaventura from 2012-2018, produced over 18 million silver-equivalent ounces and includes extensive infrastructure valued at US$115 million in historical capital investment.

The acquisition terms include US$1.57 million in upfront cash payments, US$650,000 in bridge payments, and the issuance of 17.86 million common shares. Excellon plans to restart operations within 3-6 months, beginning with underground rehabilitation and technical studies. The company will also explore the 2,000-hectare Tres Cerros property, which features a significant gold-silver mineralization corridor.

Excellon Resources (EXNRF) has secured a transformative agreement with Glencore to restart its Mallay Silver Mine in Peru. The deal includes a concentrate offtake agreement and a pre-export finance loan facility worth up to $7.5 million. Combined with recent equity financing, Excellon has arranged up to $18 million in total capital for the mine restart.

The facility includes a six-month grace period before initial repayment and will be secured by Mallay's concentrate production. Under the offtake agreement, Glencore will purchase 100% of Mallay's zinc-lead concentrate until 2028-2029. The non-binding agreement was signed on May 15, 2025, with final closing expected by the end of June.

Excellon Resources Inc. (EXNRF) has received approval to transfer its common shares listing from the Toronto Stock Exchange (TSX) to the TSX Venture Exchange (TSXV). The delisting from TSX will take effect at market close on May 6, 2025, with the TSXV listing beginning at market open on May 7, 2025. The company will maintain its trading symbol "EXN" on the TSXV. Shareholder approval is not required for this transfer since the shares will continue to be listed on the TSXV.

Excellon Resources (TSX: EXN) has been named as defendant in a new legal action filed in the Ontario Superior Court of Justice by Javier Martinez Lomas. The lawsuit, seeking approximately US$23 million in damages, relates to prior litigation involving a former indirect Mexican subsidiary of Excellon.

The claim stems from a previous dispute in Mexico that was fully litigated in Mexican courts, where due process was followed and the matter was believed to be resolved. Excellon characterizes the new lawsuit as an opportunistic attempt to relitigate the previously addressed dispute and maintains that the claims are without merit. The company states it will take all appropriate steps to defend against the action and seek dismissal of the claim.

Excellon Resources (TSX: EXN) reports progress in securing offtake-linked financing for restarting operations at the Mallay Silver Mine in Peru. The company has received multiple non-binding proposals from trading houses for zinc and lead concentrate offtake agreements, including prepayment facilities.

The proposed financing terms include:

• Facilities ranging from US$4 to US$6 million
• Up to 30-month tenors with grace periods during ramp-up
• Annual interest rates from SOFR + 5% to 7%

The proposals require satisfactory due diligence and completion of Excellon's planned acquisition of Minera CRC, Mallay's owner. The offtake agreements would cover 100% of production over multiple years. The company aims to close the Minera CRC acquisition and finalize offtake discussions in April.