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I have been watching Freeport-McMoRan . They like Arizona. And our green project would be great PR for them.
https://www.cnbc.com/video/2022/04/22/production-of-copper-mines-in-the-u-s-take-5-10-years-causing-supply-delays-says-freeport-mcmorans-adkerson.html?__source=sharebar|twitter&par=sharebar
Random thoughts: End of year cash $21 million. Undrawn Nebari line of $15 million. The question is whether $36 million is enough to pay monthly operating costs (about $1.5 million), restart JCM and build the raffinate plant. $36 million would be supplemented by copper sales from JCM. No need for raffinate plant if well stimulation works.
There is speculation that they’re talking to bigger players not necessarily to take them out but to JV. A big player could fund everything for a piece of the action. At $4.40 copper the Gunnison NPV is about $1.5 billion. That’s a lot of value for a stock trading at a $56 million (USD) market cap (less than 4% of NPV). Even if a JV partner funds all capex, (and possibly buys out the stream and royalties) to earn say 50% that’s still a $750 million NPV for Excelsior shareholders. Value that at 60% of net NPV and the stock is worth around $1.65 a share. (274 million shares)
There is simply too much copper in the ground at Gunnison to let go. Someone will want it.
So I think the next question is, if there is another funding round (and probably will be) -- will Greenstone participate? I care less about the dilution and more about confidence in the project. If Greenstone adds, then I'll be happy, but if they decide to sit the next funding round out, then it speaks volumes in my opinion.
This one will be at 0 in some month. -6% every day haha
At least when next PP of 30million kicks in at 0.15 $
RE: compensation, it does look like net management compensation has gone down over the last few years
Thanks Billy... Whew... Couldn't use more negative news at this point but I guess it's old.
Regarding the "Class Action". A mutual fund that participated in the February 2021 offering is suing Excelsior saying that the problem with the CO2 wasn't fully disclosed in the prospectus. I thought the CO2 issue was pretty common knowledge at the time and you would think a sophisticated investor like a mutual fund would have done its due diligence.
https://biv.com/article/2021/11/mutual-funds-class-action-alleges-bc-mining-firm-issued-misleading-prospectus
What? There's a class action?
Whores and sluts. Giant paychecks. ST $500k. Goodgame $400k US. Shawn Westcott who get’s $8000 US/ mo for about 30 minutes a day of work actuatly suggested to me to join the class action suit against the company. I think I will.
I agree but it seems to be the norm with these situations. I just had one that did 18 to 1 for up listing and has a bigger and better story than EXMGF.
please no R/S or no uplisting unless the issues are solved.
I am involved in many startups and all of them needed a longer timeline than forecasted. Patience have made me a lot of money and I still think it will happen here too. It only takes the confirmation that the CO2 problem is solved to get the shareprice up considerably. Let's hope the well stimulation plan works.
I look for a R\S to bring price up to uplist on the NAS.
I don't know how to predict recessions but I do think copper prices are going to remain high, it's a supply/demand issue that isn't going away. Commodities tend to be cyclical over long time frames and the cycle is upwards and I think likely to stay that way.
There are risks with this but the asset is a good one and the management... well they are not world class but they are not awful either. I'd say if you feel that worried maybe you should sell so you can get some peace of mind. Risk is what it is. I think the worst case is some major in need of copper will buy this for a song and we'll be made whole but not wealthy. Best case is they get the issue resolved and produce copper but as I said, it's another long wait which pisses me off and I'm sure you too. GL to you.
Much appreciated. I've already waited 6 years, and honestly, I wouldn't mind waiting if it weren't for the pending financial crisis/major recession that will happen anyday now. We're going to dilute (if we can raise) and honestly them mentioning Nebari willing to finance JCM scares me. If copper prices tank due to recession we're done. JCM is no good if we drop back to sub 4/lb. We will have debt we cannot pay back and then comes bankruptcy. JCM isn't a proven commodity. It made the last producer file for bankruptcy and I hope it doesn't take us out either.
Webinar notes (my opinion/comment at the end):
Twyerould opens with statement that this is the "greenest" copper project in the world. Nice, but the green we want is cash, Stephen.
States they are not producing due to the problems. Mentions Johnson camp. Puts up a slide showing green friendliness of the project
Talks to Triple Flag and other investors regularly, says they fully support the project. Believes they are heavily undervalued, due to the performance over the last 12 months.
Have 20 mil in the bank at the end of 2021.
Rob Winton Senior VP Ops and GM on site comes on, Discusses the site. Mentions the CO2 issue.
Slide showing new pre-feasibility study with CO2 neutralization plant (NP). 1.385b nvp 44.9irr; prepoduction cost 45.1 mil for the neutralization plant. Trials of this in late 2022; possibly could change the criteria and remove the NP and impact Johnson Camp Mine (JCM) restart.
DIscusses well stimulation as alternative to NP, type of fracturing but not same as oil/gas fracking; goal is to dilate existing pathways for CO2 to escape; requires an amendment to EPA UIC permit - estimate this taking months not years.
Discussed JCM open pits, 2022 PEA; 2-3 year mine life. From the slide he showed, at today's CU price the NPV is 27 mil. Capital costs would need to be reduced to make this happen. Updated mine design needs completion before board can make a go/no-go decision on JCM.
Discussed Strong and Harris property. Copper/zinc/silver, NPV 187 mil from PEA at CU $3.50/lb
Back to Stephen;
Shows slide with various goals - Update 43-101, drillling/permitting/design for JCM, S&H drilling, testing well stimulation and raffinate neutralization;
Preferred Path: JCM cash flow to support optimization of Gunnison.
Shows slide showing Excelsior's lousy stock value compared to peers, "because we haven't performed as well as we'd like to." Recapturing this value is "Our whole goal."
Q&A begins:
Has company discussed j/v or takeover? ST: We're not in discussions. We have large copper asset in great jurisdiction, heavily undervalued due to poor performance, in my view that does make us a takeover target. At these prices none of us would be excited about that.
What is plan for S&H? ST: drill some mag anomolies, eventually do infill drilling, convert from inferred to indicated, testing, PEA on open pit mine. Longer term asset. Current focus is entirely on JCM production start.
When will you know results of well stim plan? ST: test takes -1-2 months. Need EPA approval/UIC permit update first. Goal to get approval and complete trial/test by end of 2022
What's the cash burn rate, is a capital raise coming? ST: Likely need a capital raise at some point. Burn approx 1.2mil/mo Nebari willing to provide additional capital for JCM open pit.
What % of planned flow rates have well fields reached by now? ST: small % due to CO2 blocking injection. Water flushing is improving flow rates but doesn't produce any copper. They will cycle acid recovery and water alternately. Water limitations prevent doing this to the whole field. Neutralization path is the possible alternative.
Does the NPV on the open pit include the stream cost? ST: Yes
Has any of the Nebari 15m been drawn down? ST: No; subject to demonstrating open pit as worthwhile
How many people at Gunnison? RW: 50 on site.
Why was CO2 issue not anticipated? ST: We knew it would form, did some design mods during design phase to account for it, unfortunately the experts involved did not believe the CO2 would accumulate in bubbles of a size that would block flow. Impact was underestimated.
Technical discussion of flow rates/CO2/water/tech ensues, not going to recap point by point, starts around 45 minute mark if you're interested.
How long to build NP if needed? ST: 9-12 months
How confident are you that you will fix/get into production? ST: We're really confident. It's going to take time. Hard to talk about when CU is $4.60. Time is your enemy on cash flow and we want to capitalize on the high prices. We're confident we can solve the problems. Looking at other solutions like drilling more/smaller wells closer together to reduce CO2 distance traveled.
Webinar ends.
My thoughts--these are just my opinions, ymmv: I have confidence in Stephen Twyerould, but the time delays and risks are likely to take this stock down further in the months ahead. A price in the US $.10 range at some point wouldn't surprise me. A capital raise ought to happen sooner rather than later if I am correct.
To answer the OP, I don't think a webinar is going to move the stock price. Copper production nearing the stated goals is what will do that but it looks like we are as much as 2-3 years out from that now, which is really frustrating for investors who've already waited so many years. However, I would not put this in the category of many juniors which are just endless story stocks with no real value. Solving the tech issues will make this a legit producer and earn a profit for shareholders.
Question is how long do you want to wait? I'm underwater at current prices so options are take a loss or wait. For now I'll wait as the big players involved in this have a stake as well and I remain confident that management is serious and not playing us. I don't think anyone involved is ready to accept a lowball takeover offer.
Anyone have a summary of the webinar? Wasn't able to join. Guess it did nothing for the share price?
Which might only be capitalized in bankruptcy court-
Their planning and projections have been abysmal to date
I'm following their progress,and lack thereof closely,but...
futr
People have to find out about the EXMGF story. At this price it's a steal for the assets.
Any chance there is a link to the webinar, that link takes me to the website and no link to the webinar.
That would get copper up to around $6.60 a lb. Maybe add on a few more dimes for Goldman's "copper shock".
JPMorgan says be ready for 40% commodities rally in market shift
https://www.mining.com/web/jpmorgan-says-be-ready-for-40-commodities-rally-in-market-shift/
Goldman Sachs Group Inc. has also been consistently bullish on raw materials, in part on their role as an inflation hedge. Goldman warned in an April 7 note that a global copper shock was under way.
Live Webinar with
Excelsior Mining Corp.
Thursday, April 14, 2022
1:00 PM - 2:00 PM EDT
Presentation by
Stephen Twyerould, CEO & President, and
Robert Winton, Senior Vice President / General Manager
https://www.amvestcapital.com/webinar-directory/excelsiormining041422
Next it will be a R/S !!!
They don't care how long it takes, the main thing is to collect their exorbitant wages every month..
Isnt it a steal at that price stephen ? Lol so why no insiders buying
Would say no salary and options for management
Would love to listen to one of the meetings with tripple flag or greenstone haha
Follow the big money they say, problems will be solved they say, lol
Everything multipled by 0 is 0 haha
Pretty pissed. I was told that capital costs for upgrades would be cheap... 45mm pre production is almost half our market cap lol. More raises and dilution? Guess we're all bagholders.
No
Seems to be the end game, sell it or it will be worth nothing in some month.
50mil pp at 0,1 CAD haha
Silence silence …
Does anybody still believe in MIN ?
Any inputs about this technical report ?
Interesting article, thanks
Any chance you could post a link?
I have been to the company website and can't find the MD&A.
That doesnt look too good.
Year-end financials and MD&A are now on the Excelsior website.
Thanks rubberworm.
Copper is back big in Arizona and will power the clean economy
By Fred DuVal
https://www.azcentral.com/story/opinion/op-ed/2022/03/13/copper-arizona-clean-energy-green/9423997002/
COPPER
Russia produced 920,000 tonnes of refined copper last year, about 3.5% of the world total, according to USGS, out of which Nornickel produced 406,841 tonnes.
UMMC and Russian Copper Company are the other two major producers.
Asia and Europe are the main export markets.
https://economictimes.indiatimes.com/small-biz/trade/exports/insights/commodity-supplies-at-risk-if-russia-hit-by-sanctions/articleshow/89678637.cms?from=mdr
Lol copper futures don't mean jack unless we can prove the copper production. As per triple flag's report, my guess is we're at 1mm lb/year... Yet aren't we supposed to have 5/41 wells flushed out? That should be approx 12% of 25mm capacity at 3mm/lb. What gives? Were the 5 fully flushed out or not? Why was the rinsing moved to the next 5 wells if the first 5 aren't 100% cleared? Appreciate clarity on this of anyone has. If triple flag is releasing their sales numbers, MIN should too. This doesn't instill confidence because no news is always bad news. If they have been increasing copper production it should be released as news. Please correct me if I'm wrong. Do not take my estimations as fact as I may be misreading it.
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