Excellon Resources's $50 million acquisition of La Negra project could generate 3 million ounces of silver per year - Shawn Howarth
Excellon Resources (TSX: EXN) recent $50 million acquisition of the La Negra mine in Mexico, which has the potential to generate 3 million ounces of silver per year, also provides direct access to copper, zinc, and lead.
All of these metals are "energy transition metals," which will prove useful as governments around the world promote electrification, said Shawn Howarth, President and CEO of Excellon, who spoke to Kitco in January.
"If you break down the various industrial uses of silver, photovoltaics' energy transition is by far the largest growing segment of that," he said. "Our focus is definitely in those areas."
Howarth, an engineer and banker by background, conveyed his optimism for Excellon's La Negra project, as well as Excellon's other developments in Germany, Mexico, and the United States.
"We like diversified exposure to having multi-assets," he said. "It provides multiple pieces of value within our portfolio. We like diversified exposure to commodities as well… [though] we are focusing on silver. I think the La Negra transaction is transformative for this company and really defines our strategy in the future, which is continued investment in Mexico."
To find out more about La Negra, watch the video above.