Excellon Resources (TSX: EXN) this morning provided its production results for the first quarter of 2021. Results come from the firms Platosa Mine in Durango, Mexico, where the company managed to achieve 516,715 ounces of silver equivalent ounces of production.
The production figures represent a year over year decline, with the year-ago period seeing production of 523,742 silver equivalent ounces. The breakdown for the most recent quarter consists of a total of 328,747 ounces of silver produced, as well as 2.1 million pounds of lead and 2.4 million pounds of zinc.
Production overall was up however, which at face value seemingly makes little sense. The math shakes out as a result of the rising price of silver relative to zinc and lead over the last year, resulting in these two metals accounting for a lower silver equivalent figure. Production for the year ago period consisted of 296,281 ounces of silver as well as 1.9 million pounds of lead and 2.1 million pounds of zinc.
Production improvements were a result of improved mining methods, modified shift schedules, and improvements in mine infrastructure efficiency. Improved maintenance also attributed to increased plant reliability and thereby sustained higher output of production.
Financial results are set to be filed after the close of markets on May 13.
Excellon Resources last traded at $3.48 on the TSX.
Information for this briefing was found via Sedar and Excellon Resources. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
