On January 9, 2023, Toronto-based Excellon Resources Inc. announced a definitive agreement to acquire the La Negra Mine situated in Querétaro State, Mexico, from Dalu S. à r.l., an entity overseen by the investment fund Orion Resource Partners. The aggregate consideration for this acquisition is US$50 million. This will be disbursed as an upfront payment of US$20 million in common shares of Excellon and a subsequent US$30 million, either in common shares or cash, once commercial production recommences. The La Negra Mine, previously a substantial producer with an annual average of over 3.0 million silver-equivalent ounces, boasts a host of facilities, including a 3,000-tonne-per-day mill, all-season highway access, and an existing workforce. The Preliminary Economic Assessment as of March 31, 2022, indicates mineral resources of approximately 15.1 million oz silver-equivalent, with potential inferred resources of around 41.8 million oz. This acquisition seeks to leverage the mine's existing infrastructure and restart potential, bolstered by a 12-18 month development plan. Excellon's ambition is operational readiness by early 2024. Shawn Howarth, the CEO of Excellon, highlighted the significance of the acquisition for Excellon's future, emphasizing the mine's untapped potential, and acknowledged the collaboration with Grupo Desarrollador Migo, S.A.P.I. de C.V. (M Grupo) as a valuable partnership. The agreement also entails restructuring of existing convertible debentures, providing the company with greater flexibility. The transaction's completion is anticipated by April 30, 2023, pending approval from the Toronto Stock Exchange and a majority of Excellon shareholders.