Excelsior Mining Corp (EXMGF)

[Dead On Arrival]

That is a great read. Not sure why it will take a long time to get the mine back up and running.

[Arizonabilly]

Interesting read. https://justthenews.com/politics-policy/energy/scaling-copper-production-green-energy-not-just-difficult-its-impossible

[Sitman]

I agree. Ppl who dumped their shares in last few days will most likely regret soon...

[walterc]

i think there is a misunderstanding after the webinar that excelsior is going to do open pit mining. That will only be the case if well stimulation fails which is unlikely.

[Dead On Arrival]

This is the only company I did not get into at a much higher price. These spec companies rarely make it but copper is such a needed product that I took a flyer. Long 200,000 at present which isn't much but would be nice if they can get the Gunnison up and running again. It seems like every company I have a position just moves the goalposts back.

Check out the recent news on Theralase Tech.. The stock should be trading over 100 bucks a share but only 14 cents. When you have a horrid management team, that is usually the culprit.

[Sitman]

Not that bad, in my opinion. At the current copper price, JCM is likely being underestimated. It will start generating revenue soon and slow down the bleeding. There are also asset sale opportunities for Strong and Harries. The well stimulation test for Gunnison will start once they have enough capital, and it will likely be successful.

But I have been wrong about this company for over 5 years, so...

[Dead On Arrival]

Is it in the best interests of Rio to make a bid for Excelsior. They can afford the wait. Not sure where the stock price will be in a year but this appears to be going into a deep sleep again. Very frustrating to say the least.

[Sitman]

If open-pit mining is the plan, they don't even need to do the fracking test. Open-pit optionality was added for fair value comparison. It was supposed to attract potential investors, but instead, it has angered the existing investors and scared shareholders away. Failed communication from Robert.

[suerte88]

Robert said that they need to get financing for the fracing tests which may be done by year end and fracing tests may start in a year or so.
Furthermore day had open put for Gunnison in their slides as an alternative and Robert got asked which permits are needed for open pit at gunnison and how long it will take to get them and he said that they already have all permits but they need to change / amend them which may take up to two years or so.
So one year waiting for one shoot fracing test and maybe permits change for another two years.

[Sitman]

ISR and Well stimulation is still the plan for Gunnison. They added open pit optionality for fair value comparison purpose, but apprently it didn't serve well.

[Arizonabilly]

Regarding switching Gunnison to open pit, if that was to occur, that would push Gunnison out at least another five to ten years, IMO. Although Robert seemed to allude that permits were in place to do that (an assertion I question) what will delay an open pit is not only a mine design plan and financing, but having to deal with environmental lawsuits which will surely follow. I hate to say it, but I think EXMGF is dead money, possibly for quite some time. An operating JCM will buy some time and keep the lights on, so to speak, but it's not really a catalyst to drive the stock price higher.

[CMoonDD]

@CuJunior, looks like they added open pit optionality for Gunnison in the recent presentation (most likely after the question was posed) but if you move to slide 7, it still lists Gunnison as ISR, with JCM and Strong/Harris as Open Pit, so doesn't seem like their roadmap has changed hopefully.

[Sitman]

LOL, an Excelsior shareholder from TD (MMID: 007) is really pissed and dumping his shares like crazy. I believe it's an overreaction to the webinar..

[Sitman]

You are correct. I guess not only I, but many other investors misinterpreted it as well when Robert mentioned it takes up to 2 years to get the permit amended for open pit. I have confirmed with the company that ISR and well stimulation are still the plan.

[CuJunior]

Open pit is in the latest corporate presentation for June 2024

[CMoonDD]

Pretty sure you misinterpreted the webinar Q&A. Someone asked if Gunnison could be operated via traditional open pit and Excelsior responded hypothetically they could (if permits are received) but also stated this was not in their plans. Please correct me if I'm wrong if this was stated firmly elsewhere and not hypothetically. It was simply a response to a random question.

[douginil]

Or a good time to get cheap shares for a very long wait until in-suitu is actually producing.

[Sitman]

Every dollar counts for Excelsior. I hope 1) Copper prices stay high long enough; and 2) JCM proceeds as planned without any screwups.

[Dead On Arrival]

They need revenue anywhere they can find it. Without Gunnison back on line, this could be a long wait.

[Sitman]

I can't tell. There are many uncertainties about Gunnison now that they have brought open pit mining back to the table. JCM is the focus at the moment, even though most shareholders are not in favor of it. Patience is needed more than ever; this is not a good time to exit.

[Dead On Arrival]

Can you tell how long they expect Gunnison to be shut down and when they will start work to fix the issues.

[Sitman]

Guess someone is pissed by yesterday's presentation and dumped his shares today.

[Sitman]

Right, but the income will be used to payback Nuton's capex, after paying royalties and streams.

[douginil]

Not very exciting. Would have liked more info about the in-suitu progress.

[comet52]

Well at least they seem to have a chance to generate some revenue from the JC now.

[Sitman]

How do you folks like today's webinar?

[suerte88]

Another 12 month to start test the fracting tech with gunnison? Lol

[CuJunior]

Go to the Greenstone website. I pulled this straight from it: Greenstone not only provides capital but helps with "all aspects of project development (not just ‘hard’ technical issues such as geology, mining and processing)" and also this - Greenstone helps with "project management and execution plans;"
Management is doing the best possible, they cannot magically fix the geology. Greenstone is satisfied with their work
and must have some control over the direction of the project, so they can't really complain. So that is the reason.

[The DMan]

Greetings Bag Holders I hope on Tuesday one caller can get this question into the discussion. WHY ...is this J Ass .. and the whole management team been not been TERMINATED !!!! As I said in a previous post .. If this was a NBA, NHL, MLB, NFL franchise these fuckers would have been TOAST ... Years ago. My God .... How are they still here ???????

[nowwhat2]

he-he-he........Sheesh.....Excelsior !




A Jan '23 (8 yr)

[Sitman]

Your suggestion makes sense then.

[CuJunior]

Read the meeting circular available through your broker when you go to vote. Greenstone would buy based on current market prices, but not on the open market.

[Sitman]

The current trading volume is so low, are you sure we need to worry about Greenstone buying from the open market? No one is buying now, and not many ppl are selling either. Any buying power would easily push the share price up.

[CuJunior]

I have been in since 2014, usually post on stockhouse, but of course I follow investorshub and ceo.ca.

I am posting here because I think item four that we have to vote on is important. I think we should vote NO on item 4 allowing Greenstone to convert their accrued interest early. (I think they can convert their principal early, but that doesn't matter, it is at a fixed price)

Allowing them to convert the interest early instead of September 30, 2026, lets Greenstone buy at the current depressed stock price and lets them get over 50% of the company, i.e. control.

Greenstone is not allowed to vote on this, so our vote matters. Sure, management recommends approval, but what else can they do without upsetting Greenstone.
I see no advantage to us to let Greenstone convert the accrued interest now. In case you care, I have 700,000 shares, and every vote helps.

[Arizonabilly]

I've been an investor for close to nine years now in EXMGF. Unfortunately, this stock is going nowhere until Gunnison proves out. And that is still years away, in my opinion. The activities at JCM will have no positive effect on the stock price as any meaningful results from the Nuton application is also at least a year or two out. The only real positives are first, establishing the relationship with Rio Tinto and second, the coming worldwide shortage of copper. We are faced with a decision: either get out or load up and hope for the best.

[Sitman]

Years ago, I sold shares of $BIR, $CVE, $PEY, $CCO, and $DML that were worth millions and put most of the money into $MIN. Now, the stocks I sold have tripled or quadrupled, and $MIN... well, you guys know the story... Sometimes, I just can't understand the board and management of Excelsior. Stephen the CEO holds more than 7 million shares; shouldn't he work harder for the company for his own good? And Greenstone, as the biggest shareholder, shouldn't they do something to fix the disappointing and costly management?

[LCP77]

Well this pubco has a remote chance. But meanwhile the management team and other employees have been sluts and whores with their bloated salaries for part time work. It is sickening how they just convert other peoples into their own money. You earn large while pickleballing SW. Proud of that?

[Sitman]

Excelsior webinar is scheduled on Tuesday, June 4

https://www.amvestcapital.com/webinar-directory/excelsiormining060424

[Dead On Arrival]

That would be a nice gesture. I am guessing that once they are able to fix the issue at Gunnison, Excelsior will be a takeover target with copper on the move. The outfit in London will have the final say.

[Arizonabilly]

JCM, in my view, is just a side story to Excelsior. It's great that they have this relationship with Rio Tinto which, hopefully, will grow over time and result in Rio taking a JV interest in Gunnison.

[Dead On Arrival]

Stock price has hit a short term ceiling . Gunnison is now in focus. The future of the company depends on them restarting the mine.

[Sitman]

Excelsior Mining Announces Receipt of US$5 Million Payment Under Terms of Option Agreement with Nuton.

https://www.newsfilecorp.com/release/210121/

[walterc]

you are correct.

I think many investors do not understand the impact of this news.

A webinar can help .

[Dead On Arrival]

That would be great to hear.

[Sitman]

I heard the company will be doing a webinar to discuss Nuton and Gunnison shortly.

[Dead On Arrival]

This company is all about getting Gunnison going again. The news yesterday gives MIN the right to use the funds in whatever they choose to do. Once you see Gunnison back on track, then the share price will act accordingly. Just not sure if the fix is one year or more.

[The DMan]

Why does this news have ZERO effect on share price??? Mutha Fuc%$#@

[Dead On Arrival]

That is 100% correct and I affirmed that with the company. The whole ball of wax is Gunnison. Hoping they can resolve their problems and then Rio makes a bid for the company.

[Sitman]

Investors may have underestimated today's news from Excelsior ($MIN.TO, $EXMGF). The key point not mentioned in the news is that Excelsior now has the funds to proceed with the well stimulation test at Gunnison.

[walterc]

Excelsior Mining Announces Option Agreement with Nuton, a Rio Tinto Venture Proceeds to Stage 2

Phoenix, Arizona--(Newsfile Corp. - May 15, 2024) - Excelsior Mining Corp. (TSX: MIN) (OTCQB: EXMGF) (FSE: 3XS) ("Excelsior" or the "Company") is pleased to announce that Nuton LLC ("Nuton"), a Rio Tinto venture has elected to proceed to Stage 2 of the existing Option Agreement (the "Agreement") (see Excelsior press release dated July 31, 2023). The purpose of the Agreement is for Nuton to evaluate the use of its Nuton™ copper heap leaching technologies at Excelsior's Johnson Camp mine in Cochise County, Arizona. Under the Agreement, Excelsior remains the operator and Nuton funds Excelsior's costs associated with a two-stage work program at Johnson Camp.

As Nuton has elected to proceed to Stage 2, it will make a US$5 million payment to Excelsior for the use of existing infrastructure at the Johnson Camp mine for the Stage 2 work program. Nuton will also be responsible for funding all of Excelsior's costs associated with Stage 2. The full Stage 2 work program is anticipated to take up to five years, and, if successful, will demonstrate key elements of the Nuton technologies at industrial scale. It will proceed based on milestones related to engineering and mobilization, infrastructure and construction, mining, leaching, copper production and post-leach rinsing. Mining is expected to commence in year one with first Nuton copper produced in 2025.

The completion of all milestones would result in full scale commercial production of Nuton copper over several years at Johnson Camp. Revenue from operations will first be used to pay back Stage 2 costs to Nuton and will then be credited to Excelsior's account after fulfillment of Excelsior's applicable royalty and stream obligations.

"Nuton is providing state-of-the-art technologies to maximize copper recoveries. We look forward to positive results from these clean copper technologies as we develop our Johnson Camp mine," said Fred DuVal, Chairman of Excelsior.

Rio Tinto has developed the NutonTM technologies, an extensive portfolio of advanced copper heap leaching technologies targeted at primary sulfide minerals (including lower grade mineral deposits), which could not otherwise be processed economically using traditional leaching or sulfide processing technologies. These technologies offer the potential to produce additional copper from new and ongoing operations in a cost-effective manner that has significant environmental benefits when compared with traditional primary sulfide processing technologies.

After the completion of Stage 2, Nuton will have the right to form a joint venture on Johnson Camp per mutually agreeable terms whereby Nuton will hold an initial 49% and Excelsior an initial 51% interest. The purpose of the joint venture is to continue the development of the Johnson Camp mine using Nuton technologies. Should Nuton not exercise its joint venture rights, Nuton and Excelsior will discuss in good faith Excelsior's continued use of the Nuton technologies at the Johnson Camp mine subject to certain licensing terms and conditions. The infrastructure arrangement at Johnson Camp under this Agreement is non-exclusive. During Stage 2, Excelsior may continue to use the Johnson Camp infrastructure for processing Gunnison solutions and other copper sources not related to the Stage 2 work program so long as capacity requirements for the Stage 2 work program are met.

ABOUT NUTON

Nuton is an innovative venture that aims to help grow Rio Tinto's copper business. At the core of Nuton is a portfolio of proprietary copper leaching related technologies and capability - a product of almost 30 years of research and development. Nuton offers the potential to economically unlock copper from primary sulfide resources through leaching, achieving market-leading recovery rates and contributing to an increase in copper production at new and ongoing operations-. One of the key differentiators of Nuton is the ambition to produce the world's lowest footprint copper while having at least one Positive Impact at each of our deployment sites, across our five pillars: water, energy, land, materials and society.

ABOUT EXCELSIOR MINING

Excelsior "The Copper Solution Company" is a mineral exploration and production company that owns and operates the Gunnison Copper Project in Cochise County, Arizona. The project is a low cost, environmentally friendly in-situ recovery copper extraction project that is permitted to 125 million pounds per year of copper cathode production. Excelsior also owns the past producing Johnson Camp Mine and a portfolio of exploration projects, including the Peabody Sill and the Strong and Harris deposits.

For more information on Excelsior, please visit our website at www.excelsiormining.com.

For further information regarding this press release, please contact:

Excelsior Mining Corp.
Concord Place, Suite 300, 2999 North 44th Street, Phoenix, AZ, 85018.

Shawn Westcott
T: 604.365.6681
E: [e-mail]
www.excelsiormining.com

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward looking information contained in this news release includes, but is not limited to, statements with respect to: (i) the potential of well stimulation to improve performance of the Company's mineral projects; (ii) the intention to deploy the Nuton® technology at the Johnson Camp mine and future production therefrom; (iii) the details and expected results of the stage two work program; and (iv) future production and production capacity from the Company's mineral projects.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the amended permit will not be appealed, work plans will be approved in a timely manner, the availability of financing to continue as a going concern and implement the Company's operational plans, the estimation of mineral resources and mineral reserves, the realization of resource and reserve estimates, expectations and anticipated impact of the COVID-19 outbreak, copper and other metal prices, the timing and amount of future development expenditures, the estimation of initial and sustaining capital requirements, the estimation of labour and operating costs (including the price of acid), the availability of labour, material and acid supply, receipt of and compliance with necessary regulatory approvals and permits, the estimation of insurance coverage, and assumptions with respect to currency fluctuations, environmental risks, title disputes or claims, and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks related to the Company not obtaining adequate financing to continue operations, the breach of debt convenants, risks inherent in the construction and operation of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined including the possibility that mining operations may not be sustained at the Gunnison Copper Project, risks related to the delay in approval of work plans, variations in mineral resources and reserves, grade or recovery rates, risks relating to the ability to access infrastructure, risks relating to changes in copper and other commodity prices and the worldwide demand for and supply of copper and related products, risks related to increased competition in the market for copper and related products, risks related to current global financial conditions, risks related to current global financial conditions and the impact of any resurgence of COVID-19 on the Company's business, uncertainties inherent in the estimation of mineral resources, access and supply risks, risks related to the ability to access acid supply on commercially reasonable terms, reliance on key personnel, operational risks inherent in the conduct of mining activities, including the risk of accidents, labour disputes, increases in capital and operating costs and the risk of delays or increased costs that might be encountered during the construction or mining process, regulatory risks including the risk that permits may not be obtained in a timely fashion or at all, financing, capitalization and liquidity risks, risks related to disputes concerning property titles and interests, environmental risks and the additional risks identified in the "Risk Factors" section of the Company's reports and filings with applicable Canadian securities regulators.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/209169

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