Excellon reports net earnings of $3 million during third quarter 2013

About this update from Excellon Resources Inc.

[{"type":"text","content":"\n\n\nTORONTO, Nov. 5, 2013 /CNW/ - Excellon Resources Inc. (TSX:EXN) (OTC:EXLLF) (\"Excellon\" or\n the \"Company\"), Mexico's highest grade silver producer, is pleased to report financial results for the third quarter of 2013.\n\n\nQ3 Highlights\n\n\nNet earnings of $3 million ($0.05/share)\n\n\nCash flow from operations of $4.8 million ($0.09/share) before changes\n in working capital\n\n\nSales of 603,666 silver-equivalent ounces (9-mos - 1,524,727\n silver-equivalent ounces), including 452,040 oz Ag, 1,969,259 lb Pb and\n 2,074,088 lb Zn\n\n\nNet cash costs per silver ounce produced of $7.77 (9-mos - $8.77)\n\n\nAll-in costs per silver equivalent ounce sold of $10.65 (9-mos - $15.60)\n\n\nCash corporate administrative costs reduced by 37% versus Q2 2013\n\n\nCash, marketable securities and current accounts receivable totaled\n $9.7 million at September 30, 2013\n\n\nWorking capital totaled $11.7 million at September 30, 2013\n\n\n\"During the third quarter, despite realized silver prices of $21.40 we\n generated positive cash flow and profits from our La Platosa Mine,\"\n stated Brendan Cahill, President and Chief Executive Officer. \"Silver\n grades of almost one kilogram per tonne, improved tonnage and decreased\n costs contributed significantly to our performance.  We took steps\n early in the quarter to reduce costs, particularly at our corporate\n office, and began the process of improving our production profile.  We\n are now well positioned to generate profits at current silver prices,\n while building our cash reserves and preparing to resume exploration\n early in 2014.\"\n\n\nFinancial and Operating Highlights\n\n\nFinancial results for the three and nine month periods ended September\n 30, 2013 and 2012 are as follows:\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n   ('000's of USD, except amounts per share\n          and per ounce)\n\n\nQ3 2013\n\n\n  Q3 2012\n\n\n9-Mos\n       2013\n\n\n9-Mos\n       2012\n\n\nRevenue\n\n\n11,645\n\n\n60\n\n\n25,887\n\n\n27,160\n\n\nCost of sales\n\n\n(5,389)\n\n\n(3,958)\n\n\n(17,355)\n\n\n(14,176)\n\n\nGross profit (loss)\n\n\n6,256\n\n\n(3,898)\n\n\n8,532\n\n\n12,984\n\n\n \n\n...

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