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Yet another Quick-Guide-For-Reading-Junior-Miner-NRs, Excellon Resources ( edition

We clearly state: When the company quarter highlights are of this type:

  • Third quarter sales: 276,942 oz of silver, 1,519,787 lbs of lead and 2,572,547 lbs of zinc;
  • Net cash costs after lead and zinc by-product credits for the three months ended September 30, 2011 were $6.95 per ounce of silver;
  • Realized price per ounce of silver $37.18 for the third quarter and year-to-date $37.14;
  • Exploration expenses for the quarter totalled $1.6 million for the ongoing program at Platosa with results that continue to be  encouraging;
  • The Company's cash and cash equivalents at September 30, 2011 was $15.1 million and working capital was $18.4 million.

It means the company, in this case Excellon Resources (, has made a loss. For a producing miner there are zero repeat ZERO excuses in the current pricing atmosphere for silver, gold, copper etc. Rule One™ = Make a profit. Insist on nothing less and do not complicate your life.