As we get ready to kickoff the final three trading days in the first month of 2018, billionaire Eric Sprott is making big moves in the silver market.
January 27 (King World News) – Billionaire Eric Sprott just increased his already massive stake in one of the highest grade silver producers in the world. The Canadian billionaire just purchased another 317,900 shares of Excellon Resources (symbol EXN in Canada and EXLLF in the US), bringing his total ownership of the company to 20%. However, when Sprott exercises his warrants, he will own a staggering 27% of the high-grade silver producer.
It appears that Sprott, who believes the silver price will surge above the all- time high of $50, intends to increase his ownership of Excellon to 32%, which has already been approved by the company. A look at Excellon’s chart below reveals the company has been under massive accumulation for almost 2 years.