Incoming Excellon CEO to focus on financial stability

Excellon Resources’ incoming CEO Shawn Howarth pledged to return the company to financial stability, as operations wind down at the Platosa mine in Mexico.

Howarth will replace Brendan Cahill in the role from July 28, with Cahill remaining on the board of directors.

“Excellon has the foundation for future growth, including strong leadership at the board and management level, coupled with deep operating experience, particularly in Mexico,” Howarth said in a release.

“My near-term focus will be on optimizing the asset portfolio and returning financial stability to the company.”

Platosa, a silver-lead-zinc producer in Durango state and which has been producing since 2005, is scheduled to wind down in Q3.

The decision, announced in January, followed long-running dewatering challenges and entry into a steeper part of the deposit.

The company faced a brief strike at the mine in March.

In addition to Platosa, Excellon has the Evolución project in Mexico, and gold and silver projects in the US and Germany.

“As part of a renewed perspective on corporate strategy as we wind down operations at Platosa, we are establishing new leadership to position the company for its next phase of growth,” said chairman André Fortier.