By: Dylan Sikes - AllPennyStocks.com News

Wednesday, August 5, 2026

First concentrate is a restart's proof-of-life: the mill ran, the bags exist, and offtake can take a boat. After chewing through roughly 12,000 tonnes since early July, Mallay just cleared that gate with silver-lead and zinc concentrate lined up for August shipments. Silver's own 3%+ session helped the mood, but the so-what is cash-from-product, not another PEA slide.

Excellon Resources Inc. (TSX-Venture: EXN) (OTC: EXNRF) jumped Wednesday after reporting first concentrate production from the pre-commissioning campaign at its 100%-owned Mallay silver-lead-zinc mine in central Peru.

Since restarting on a pre-commissioning basis on July 2, 2026, the Mallay concentrator has processed about 12,000 tonnes of material and produced concentrates containing roughly 29,200 oz of silver, 319,000 lbs of lead, and 456,000 lbs of zinc (contained metal in concentrate, not payable). The plant is a conventional flotation circuit with nameplate capacity of 600 tonnes per day; management says it has operated consistently with no unplanned plant shutdowns in the campaign. Two products are being made: a lead-silver concentrate and a zinc concentrate, with initial shipments targeted for August 2026 and payment expected in the same quarter once sales settle.

Importantly, Excellon frames the campaign as metallurgical validation and concentrate-quality work ahead of a commercial production declaration, not as the final operating run-rate. For reference, Mallay is a past-producing underground mine with a refurbished 600 tpd mill, and the company has previously pointed to stockpile feed as a bulk sample to test the flowsheet under offtake arrangements.

Next catalysts are the first August concentrate shipments and settlements, any update on ramp toward nameplate throughput, and the path to declaring commercial production.

Shares of EXN / EXNRF rose 16.4% and 12.1% to C$0.355 and US$0.25, respectively. 

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