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Excellon Updates Plans for Silver City Property in Germany

Shareholders of Globex Mining Enterprises Inc. were given an update on Excellon Resources Inc.’s intentions for the Silver City Property in Saxony, Germany, a large portion of which is under Globex’s option.

Excellon Updates Plans for Silver City Property in Germany

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As an exploration firm concentrating on Europe, Excellon is considering the timing and form of a spin-out of its Silver City Project in Saxony, Germany. The Company anticipates that SpinCo would arrange fundraising connected to the potential spin-out to raise money for working capital and further exploration efforts.

Additionally, the Company would seek to list SpinCo shares on a reputable Canadian stock exchange, subject to satisfying all necessary regulatory and listing criteria.

Excellon shareholders can expect several advantages of SpinCo, such as:

  • Silver City, a publicly traded exploration company with an emphasis on Europe, is anticipated to have its valuation reset
  • A fresh opportunity for investors looking for direct access to a high-grade, district-scale silver exploration project in a supportive environment
  • The possibility of increased trading liquidity for SpinCo as a distinct publicly traded business

Up until the late 19th century, high-grade silver was mined at Silver City for more than 800 years. An extensive epithermal silver system is covered by 340 km2 of exploration rights held by Excellon. High-grade intersections include 1,043 g/t AgEq over 1.3 m, 1,042 g/t AgEq over 0.45 m, and 1,633 g/t AgEq over 0.35 m.

Germany’s Saxony region has an amazing exploration team and institutional backing for Silver City.

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