Silver Miner Shines on Production Update

Silver output surged quarter over quarter

Sean Mason | April 18, 2016 | SmallCapPower

Production results boosted a silver miner’s shares Monday, while there was more bad news for a beaten-down biotech play. Here’s some small stocks making big moves on Monday, April 18, 2016 (as of 4 pm EST):

EXN logoExcellon Resources Inc. (TSE:EXN) shares surged 33% to $1.30 on Monday after the Mexico-focused silver miner announced that Q1 silver equivalent production from the La Platosa Mine in Mexico increased 40% quarter over quarter to 363,552 ounces.

As well, shares of Telesta Therapeutics Inc. (TSE:TST) plunged 37% to $0.085 as the biotechnology company said the FDA has ruled that any potential commercial approval of MCNA would require an additional Phase 3 clinical trial to be completed prior to resubmission of the MCNA BLA, which Telesta estimates could not be obtained for a period of at least five years and possibly longer depending on the exact clinical trial design and required patient follow-up period.

Macarthur Minerals Limited (CVE:MMS), meanwhile, reported the appointment of Emeritus Professor Ken Collerson to its newly-formed Lithium Advisory Board to support development of the Company’s hard rock lithium projects in Australia. Macarthur Minerals stock popped 86% to $0.13 following the announcement.

Finally, Primero Mining Corp. (TSE:P) shares slid 17% to $2.19 after the precious metals producer announced that it is reducing its 2016 production guidance to between 230,000 and 250,000 gold equivalent ounces at expected all-in sustaining costs of between $975 and $1,025 per gold ounce.

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