Together with previously acquired units, Mr. Sprott now owns and controls 14.43 million common shares and 6.25 million purchase warrants representing around 25.5% of the outstanding shares on partially - diluted basis.
According to the company, it intends to use this cash to:
"...fund accelerated exploration at the Platosa Project, for capital expenditures at the Platosa Mine and Miguel Auza Mill, for working capital expenses and for general corporate purposes"
To remind my readers, in April Mr. Sprott acquired his first tranche of Excellon shares paying C$0.45 per share. Now, after a dramatic increase in Excellon share prices (look at the chart below), he still thinks these shares offer value.