This is what subscribers read about Excellon (EXN.to) on Sunday evening:
Excellon
Resources (EXN.to) also getting back to work
The trials and tribulations at
Excellon Resources (EXN.to) have been quite a thing recently but they do seem
to have at least kept their mine open, after all. After workers threatened a
second protest and roadblock on Wednesday (19) as they still had not been paid
by the company according to the agreement of the previous week, management and
unions sat down and in light of the improving silver price worked out a deal.
Now 20% of employees will be cut, but the mine stays open (20). Along with
using complaints about the high electricity price they pay as an excuse to put
the mine on care & maintenance, this was probably the whole strategy to begin
with.
Time will tell whether cutting 20%
of the La Platosa workforce makes the mine and the company profitable and we
stress, its issues go a lot deeper. However, traders among you may want to put
it on your radar next week. No position and not taking one, here below is what EXN
has done against the silver miner’s ETF (SIL) this year.
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
You may have noticed EXN did this today. Readers of The IKN Weekly knew why from the bell:
