Excellon Resources Inc. (NYSE American: EXN) (TSX:
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Posted On: 10/13/2021 3:21:34 PM
Excellon Resources Inc. (NYSE American: EXN) (TSX: EXN) (FSE: E4X2) Stands Poised to Benefit from a Surge in Global Silver Demand
- Rising investment demand for silver has seen several entities inaugurate dedicated warehouses set to house the precious metal
- Demand for silver is being led by a combination of investment demand and industrial usage, driven by resurgent demand for renewable energy resources
- Excellon Resources is well poised, benefitting from the ongoing production at their Platosa Mine project as well as the promising prospects for their Kilgore and Silver City deposits
The inside of a dusty six-story high warehouse near Singapore’s Changi airport, a vast hangar-like space, currently holds around 400 tons of silver. Once complete, the vault will be able to store as much as 15,000 tons of silver – an indication of the potential which the market currently attributes to the precious metal (https://nnw.fm/fKh38). Investment demand for silver coins and bars is booming, part of a retail-driven buying frenzy that saw the price of silver touch an eight-year high in February. The buying activity has led to the value of silver stored within the London Bullion Market Association (“LBMA”) vaults rise to approximately $30 billion as of March of this year, a record figure which has remained largely unchanged to date (https://nnw.fm/MccEF).
Excellon Resources (NYSE American: EXN) (TSX: EXN) (FSE: E4X2), a silver and base metals producer with precious metal projects in Mexico, Idaho and Germany, has employed a world-class leadership team with a proven track record to capitalize on positive trends in the space. Excellon recently published its 2Q 2021 production data (https://nnw.fm/Fzwp9), providing further details following the resumption of activities at its principal Platosa Mine, which has seen over 800,000 tonnes mined since production first commenced in 2005.
The market’s increasingly optimistic outlook on silver’s prospects have not been confined to Singapore and London alone. In June this year, JM Bullion, one of the largest precious metals retailers in North America, inaugurated their new 25,000 square-foot silver warehouse in Dallas, which will be used for storing silver as well as other precious metals.
Notably, silver’s prospects are simultaneously being driven by strong industrial demand across a myriad of sectors in the global economy: “The outlook for demand growth for silver over the next few years looks very positive, especially across a wide range of industrial applications, including solar, 5G and automotive,” said Philip Klapwijk, managing director of Hong Kong-based consultant Precious Metals Insights Ltd. (https://nnw.fm/t30NK).
A number of Asian countries set carbon zero targets last year, with President Biden announcing earlier this year that the US aimed to cut greenhouse gas emissions in half by 2030, a target which nearly doubled the nation’s previous commitment (https://nnw.fm/wtpxu). The ongoing move towards renewable energy sources should see the precious metal enjoy a significant uplift in demand as investment in solar power ramps up.
Participants in the global silver trade have been busy preparing for the precious metal’s bullish future to come to fruition. Positioned well with its portfolio of production and exploration resource projects spanning North America and Europe, Excellon Resources is well primed to serve the burgeoning market.
For more information, visit the company’s website at www.ExcellonResources.com.
NOTE TO INVESTORS: The latest news and updates relating to EXN are available in the company’s newsroom at https://nnw.fm/EXN
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
- Rising investment demand for silver has seen several entities inaugurate dedicated warehouses set to house the precious metal
- Demand for silver is being led by a combination of investment demand and industrial usage, driven by resurgent demand for renewable energy resources
- Excellon Resources is well poised, benefitting from the ongoing production at their Platosa Mine project as well as the promising prospects for their Kilgore and Silver City deposits
The inside of a dusty six-story high warehouse near Singapore’s Changi airport, a vast hangar-like space, currently holds around 400 tons of silver. Once complete, the vault will be able to store as much as 15,000 tons of silver – an indication of the potential which the market currently attributes to the precious metal (https://nnw.fm/fKh38). Investment demand for silver coins and bars is booming, part of a retail-driven buying frenzy that saw the price of silver touch an eight-year high in February. The buying activity has led to the value of silver stored within the London Bullion Market Association (“LBMA”) vaults rise to approximately $30 billion as of March of this year, a record figure which has remained largely unchanged to date (https://nnw.fm/MccEF).
Excellon Resources (NYSE American: EXN) (TSX: EXN) (FSE: E4X2), a silver and base metals producer with precious metal projects in Mexico, Idaho and Germany, has employed a world-class leadership team with a proven track record to capitalize on positive trends in the space. Excellon recently published its 2Q 2021 production data (https://nnw.fm/Fzwp9), providing further details following the resumption of activities at its principal Platosa Mine, which has seen over 800,000 tonnes mined since production first commenced in 2005.
The market’s increasingly optimistic outlook on silver’s prospects have not been confined to Singapore and London alone. In June this year, JM Bullion, one of the largest precious metals retailers in North America, inaugurated their new 25,000 square-foot silver warehouse in Dallas, which will be used for storing silver as well as other precious metals.
Notably, silver’s prospects are simultaneously being driven by strong industrial demand across a myriad of sectors in the global economy: “The outlook for demand growth for silver over the next few years looks very positive, especially across a wide range of industrial applications, including solar, 5G and automotive,” said Philip Klapwijk, managing director of Hong Kong-based consultant Precious Metals Insights Ltd. (https://nnw.fm/t30NK).
A number of Asian countries set carbon zero targets last year, with President Biden announcing earlier this year that the US aimed to cut greenhouse gas emissions in half by 2030, a target which nearly doubled the nation’s previous commitment (https://nnw.fm/wtpxu). The ongoing move towards renewable energy sources should see the precious metal enjoy a significant uplift in demand as investment in solar power ramps up.
Participants in the global silver trade have been busy preparing for the precious metal’s bullish future to come to fruition. Positioned well with its portfolio of production and exploration resource projects spanning North America and Europe, Excellon Resources is well primed to serve the burgeoning market.
For more information, visit the company’s website at www.ExcellonResources.com.
NOTE TO INVESTORS: The latest news and updates relating to EXN are available in the company’s newsroom at https://nnw.fm/EXN
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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