Excellon Resources Reports Q1 2014 Revenue of $10.5 Million

Mexico-focused Excellon Resources Inc. (TSX:EXN) yesterday reported its financial results for the first quarter of 2014. Highlights include revenue of $10.5 million, up from $10.1 million in the year-ago quarter, and sales of 624,953 silver equivalent ounces. That’s quite a bit higher than the 476,281 silver equivalent ounces sold by the company in the first quarter of 2013.

Other highlights include:

• Mine operating earnings of $2.7 million (Q1 2013 – $4.1 million)
• Net income of $1.9 million or $0.03/share (Q1 2013 – net loss of $0.6 million or $0.01/share)
• Cash flow from operations of $2.1 million or $0.04/share before changes in working capital (Q1 2013 – loss of $0.6 million or $0.01/share)
• Total cash cost per silver ounce payable of $11.76 (Q1 2013 – $9.09)
• All-in sustaining cost (‘AISC’) per silver ounce payable of $17.28 (Q1 2013 – $24.06)
• Cash, marketable securities and current accounts receivable totaled $9.1 million at March 31, 2014 ($7.0 million at December 31, 2013)
• Working capital totaled $11.8 million at March 31, 2014 ($10.3 million at December 31, 2013

Click here to read the full Excellon Resources Inc. (TSX:EXN) press release.