- 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://ibn.fm/JfMZq). 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://ibn.fm/gyHto).
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…
NOTE TO INVESTORS: The latest news and updates relating to EXN are available in the company’s newsroom at https://ibn.fm/EXN
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