After extolling the virtues of the wondrous corprorate wordsmithery on show in our concisely entitled post “Excellon Resources (EXN.to): Clearly to be a winning success in a very big wordy impressive future of wonderful”, this humble corner of cyberspace ended by noting the C$1.22 share price at that time and wondering aloud:
“Maybe this wonderful example of junior mining NRs explains why EXN is only down 15% or so since publication, because if anyone with normal financial sense bothered to look at the fundamentals of this company that don’t stop at the crazy hot mess at Platosa, such as the objections against its Kilgore drill permit application, its lack of treasury and the trifling matter of the $21m or so it owes due to the loss and unsuccessful appeal of its Mexican court case, they’d wonder why this dog is still trading over a Loonie.”
Since then…
…EXN no longer trades over a Loonie, in fact it’s several rungs lower at today’s 88c. Let’s hope it wasn’t anything we said.
One for five consolidation twice = 1:25 = ~3.5 cents.
I made quite a bit of money on EXN many years ago, but lost faith after one event and kept my winnings. Admittedly, that was under long gone management, but …
Just down 75% over the last 12 months, I remember someone (IKN) saying this was the easiest short ever!
Nice one
Yeah, that was when Cahill went a bridge too far and exposed the company to a market that could efficiently short it:
https://iknnews.com/thank-you-excellon-exn-to-for-the-5-for-1-rollback/
They were asking for trouble:
“For people who can actually read and understand financials, do DD and check past performances compared to guidance (i.e. Wall St. analysts) the arrival of the EXN deck on their desks must have felt like somebody walking in with stacks of one hundred dollar bills, asking “Hi…errr, excuse me…would anybody here like a few of these?””
https://iknnews.com/excellon-resources-exn-to-or-when-canadian-mining-financials-meet-cruel-reality/
This is why so many Canadian companies would never dream of listing on the NYSE or NASDAQ.
This was a Sprott fav about 6 years ago. Now just another 70 % loser for the big guy. He needs many 10 baggers to offset his massive losers like EXN, GR, NVO, GGI, WM to name a few.
OTOH, he made enough from Fosterville to cover a couple of lifetimes’ worth of dumb silver incursions.
Also, why worry about the losses in your First Majestic position when you can sell them Jerritt Canyon?