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August 1st. Yes, there's the possibility that others may file an appeal until then.
Am on travel with limited internet access, of course.
If additional appeals are filed, I expect they'll be filed towards the end of July.
Sorry for the flood of postings, but posting things I find that may be of interest to some of you (at least they're of interest to me).
At link below, you can read the comments submitted by the Dragoon Conservation Alliance, Earthworks, Amerind Foundation, Patagonia Area Resource Alliance, and Arizona Mining Reform Coalition (consolidated comments) in July 2017 to the Arizona Department of Environmental Quality (ADEQ) during the public comment period on the draft APP permit (state permit). Note that the coalition mentioned above did not challenge/appeal the ADEQ-issued permit when it became final.
http://www.azminingreform.org/sites/default/files/docs/Coalition_comments_Excelsior_APP.pdf
If you want to periodically check on the Dragoon Conservation Alliance, a small local non-profit org that was
(quoting Indigenous Environmental website) "revived in 2014 to combat a mining proposal by Excelsior Mining Co. The organization successfully defeat [sic] a marble mine in the Dragoon Mountains in 2008. A small group of local residents holds community meetings and shares information about the mining operation and the water quality of the local aquifer, which serves as the sole source of potable water for several municipalities and unincorporated communities.
Mini-gran funds will be used to help pay for a hydrologic consultant to carry out an on-site geological and hydrological study and analysis of the impacts of Canadian Excelsior Mining Company’s project to extract copper from the North Star Deposit at the base of the Gunnison Hills in Dragoon, Arizona using an in-situ sulfuric acid leaching process",
you can check out their Facebook page (no recent activity and not many postings) at link below. Their purported website (if you click the "Click Here" link on Indigenous Environmental website) is gone.
https://www.facebook.com/DragoonConservationAlliance/
While twiddling our thumbs, you may want to read the article at the link below from the Arizona Range News:
https://www.willcoxrangenews.com/news/article_6c130586-067a-11e6-9aa3-6b0faa3cb9b0.html
Provides some historical background on the Johnson Mining Camp, and discusses Excelsior Mining's ISR approach.
Ran across the article while searching for any internet chatter from Earthworks or Amerind (two orgs who had voiced concerns about the project) to see if they intended to lodge an appeal to the permit. Nothing found yet, but it's still early. I wouldn't expect an appeal to be filed until the final part of the 30 day period, and even then, it would likely be mailed/FedEx'd to EPA. First we may hear on whether an appeal has been filed is through a PR from Excelsior Mining.
For what it's worth … bought 33,000 shares today.
Again, I think it'll be transitory; a derivative of Trump-China trade war tiff, much of which is bluff (can't believe Trump will take risk of total market meltdown before November elections and lose Republican congressional slots to Dems, but that assumes he has some rationality which is debatable).
Photonics Guy tweeted the article at the link below, worth reading, on sentiment of another junior copper co. CEO on current drop in copper prices. He obviously is looking at the situation through rose colored lenses since he is a CEO of an exploratory/developmental copper/gold/silver/moly co. in Yukon area of Canada, but I think he's right about the supply/demand outlook for copper.
http://www.kitco.com/news/2018-07-11/Copper-Can-Withstand-U-S-China-Trade-War-As-Supply-Concerns-Grow-Mining-CEO.html
Transitory. Great price to buy. I've been buying (getting heavily overweight on EXMGF). I know some are concerned whether the ISR approach will work.
BHP did a 90-day pilot test of ISR at its Florence Copper project in AZ in the late 1990's. Following is from an old article on that project:
"From 1996 to 1998, the BHP Copper company looked at a project on what is now part of Florence Copper’s site. They conducted a 90-day pilot test to see if the in-situ method worked on the site. Stacy Gramazio, Florence Copper’s manager of communications and public affairs, says that that test was successful.
“It really did prove that the in-situ method worked at this very rare copper deposit here in Florence,” she said. “They were able to recover the copper in a very environmentally responsible and economically feasible way.”"
Project didn't go forward due to local opposition/protracted litigation on the state permit.
Link to article: https://roselawgroupreporter.com/2017/04/mining-expansion-leaves-florence-community-uneasy/
Bottom Line: ISR extraction approach works for rare geological situations. EXMGF contends they have such a situation. If they get the final permit unchallenged on August 1st, and get the ~$50-60 million in financing without too much dilution, EXMGF stock should see a VERY significant price increase. The milestones going forward should offer extremely rewarding returns, imho.
Nice interview of Eric Coffin of HRA Advisory by @Goldfinger that's posted at CEO.CA. Eric discusses Excelsior Mining, among others. Link to interview below:
https://ceo.ca/@goldfinger/eric-coffin-on-his-favorite-stock-picks-and-pitfalls-to-avoid
A big event will be August 1st if there is no permit appeal. I think the price action (or lack of buying interest/activity) is a function of perceived potential risk of a permit appeal being filed by August 1st. If a permit appeal is filed, then the hearing process will take more time (my guess is about 6-8 months) before a final appeals board decision is rendered.
If no appeal is filed, then I expect a financing arrangement for Stage I being announced by end of August. But I expect you'll see a significant share price jump if no appeal is filed. And if the financing arrangement is not heavily premised on equity (i.e., more debt than equity-based financing), we'll be seeing share price in the $1.30 to $1.50 (USD) range quickly, and moving up from there, imho.
First hurdle first, though -- August 1st is a big milestone. Not sure how long after August 1st before we see an official PR from either EPA or Excelsior Mining informing us no appeals have been filed (assuming no appeals are filed).
OT: EPA Administrator Pruitt just announced his resignation.
"bird in hand", eh? … I'll prefer a golden goose, and not a turkey. :)
Have no idea, Stark. I'd think Rio Tinto or any other acquirer would wait until production has started and Excelsior getting good copper recovery from the ISR. Of course, that would drive up the premium for an acceptable takeover bid. Greenstone would be the key in deciding whether a bid was acceptable. I think Greenstone would like a buyout exit, given its large share position.
Mentioned on the Stock House bull board, but link below to the article discussing Rio Tinto's desire to acquire quality copper mining assets, and in fact, are under quite a bit of pressure to do so and will likely make some acquisitions paying top dollar.
https://mobile-reuters-com.cdn.ampproject.org/c/s/mobile.reuters.com/article/amp/idUSKBN1JP0LB
Some key points:
- willing to fork out a large premium over market value to secure a prime asset
- If Rio Tinto can't land a big copper project, it is considering series of more modest acquisitions to increase its copper exposure
- Established Rio Tinto Ventures, a division set up to hunt for relatively small mining projects (set up over a year ago, and has not yet acquired a small mining project, but pressure is on)
Some info to share. Don't ask me how I got it.
Excelsior Mining management thinks that the recent share price drop was a combo of recently lower copper prices, an early-in small fund investor who decided to cash-in some profit by selling into an expected liquidity event (announcement of receipt of permit).
Total capex funding need for Stage I = ~$49.4 million. $10.1M for SX-EW plant/equip, $3.4M for power upgrade/transmission lines, $7.7M for ponds, $3.3M for pipelines, $17.4M for wellfield, and $7.5M for general/owners costs. This is in Excelsior's June 28th corporate slide deck, which you can get at https://www.excelsiormining.com/images/pdf/Presentation/2018/June/June_28_2018.pdf
Will likely shoot for $60M financing amount. Have cost overrun contingency of about $10M put away, in case it's needed.
Expect to have completed financing for Stage I before Q3 2018. Range of options on financing -- from pure debt to up to 60/40 debt/equity (or some mixture/combo in between). Management very sensitive/want to try to avoid equity financing to protect shareholder interests/minimize share dilution. Not going to be pressured into rush for financing with equity -- have time to negotiate good financing approach (i.e., try for debt financing) since have ~$20M in bank right now.
Excelsior not deploying its capital right now for construction (not until after Aug 1), but Excelsior is purchasing long-lead items (e.g., people/staff) before then. Excelsior is currently working on arranging project financing (has been for several months now) -- working that in parallel with getting final permit.
Royalties: Assigned total of 4% royalties right now. Expect about 4.5% royalties total to have been assigned (3% to Greenstone, 1.5% to Altius) with production. No off-takes (??).
Once construction starts (estimated to start in Q3 2018), expect ~6 months for wellfield construction and ~7 months for the SX-EW plant/ponds construction (those construction efforts would be done in parallel/overlap, and not sequentially). Overall construction phase is about 6 to 8 months. Then start injection of diluted sulfuric acid solution, expect about 4 months for the solution to initially circulate around and start returning copper sulfate. Expect diversion of circulated acid/copper sulfate to pond to SW-EW plant for copper recovery in late Q1 2019.
Transitioning from Stage I production -- if Excelsior is meeting the production hurdles/expectations from Stage I, and if Excelsior can get favorable debt financing, then Excelsior will likely jump directly from Stage I to Stage III. Otherwise, Excelsior will use the free cash flow from Stage I and Stage II ops to help fund capex needed to jump to the next stage.
Slide deck covers nearly all of the salient points. The above addition/commentary provided to just add more color to the presentation.
Thanks Nick. I hadn't seen that one (my bad). Makes it easier to understand the process, for sure.
Townhall meeting accessible over internet (webinar) today:
Topic: Excelsior Mining (MIN) "Town Hall" webinar Thursday, June 28th @ 4:05 Eastern
To join the online meeting:
-------------------------------------------------------
1. *Go to https://oandm.webex.com/oandm/j.php?MTID=mffd2f2c8d4efdd958378d2d06bf95934
Dial-in number: +1 408-792-6300
Meeting Access Code: 792 563 794
Attendee number- enter the number on the drop down box (Audio, Audio Conference, I Will Call In) or enter # if you are Dial in Only
Doug
At bottom of the video screen, there is a speaker icon (likely with an X through it, indicating no audio). Click on the speaker icon until the X is gone, and you'll have audio.
Thanks for the link! I couldn't find the actual URL link earlier.
CEO Twyerould interview (yesterday) with BNN. Have to go to BNN link below, and then look for the interview on "Latest Videos" list on the BNN web site. Wow, he looks like he's gotten younger. Has some neat 3D animation showing how the in situ extraction works (I haven't seen that before). He confirms that financing (discussions already underway) won't be wrapped up until "later this summer" (i.e., after the permit appeal period has lapsed). He also confirms that Excelsior is looking for $60 million (Canadian dollar?) financing, preferably through debt and NOT through equity (i.e., wants prevent or minimize shareholder dilution).
https://www.bnnbloomberg.ca/
Also, see BNN video - Colin Hamilton with BMO on outlook for various base metals. Colin has a strong Scottish accent, so you have to listen fairly closely. He's concerned with how to solve the projected future copper supply deficit. Excelsior Mining's timing for production couldn't be any better, imo.
https://www.bnnbloomberg.ca/video/natural-gas-storage-outlook-unreasonably-low-analyst~1428223
Trofee
Yes, Excelsior has its final permit, but the permit is still subject to challenge by appeal until August 1, 2018. If no appeal before then, then the permit can no longer be challenged by any groups who may have been objecting to the project.
Likely that Excelsior Mining won't be able to get the next round of financing until August 1st, since the funding investors wouldn't risk lending money until the appeal period is over, with no appeals.
As for the drastic, recent drop in share price -- I think we all aren't sure what has caused such a drop. Copper price recently down (due to trade war situation). Possible that some of the parties (affiliated with Greenstone) who provided equity-based financing in last round (December 2017) decided to sell their shares, since the hold period expired on May 20th which allows them to sell their shares (I believe their investment basis in those shares averaged about $.72 or .73 USD per share). Maybe risk associated with potential appeal of the permit before August 1st, so why face risk of project delay and why not sell now for a little profit? Who knows?
I think those with some funds to invest will rue missing out on this opportunity to buy Excelsior Mining's shares at a great price. It's a great time to add to one's position, or for new investors to start buying in.
From a Stock House blog msg - new article by the Critical Investor:
https://www.criticalinvestor.eu/analysis/copper/excelsior-mining-receives-long-awaited-uic-permit-quick-capex-funding-around-corner
Given the inverse share price reaction to good news, I certainly hope not, lol.
Theoretically, those who provided comments on the draft EPA permit and whose comments were not (in the commenter's mind) adequately addressed by EPA could appeal the permit to the Environmental Appeals Board.
There were a lot of comments, and EPA provided responses to all of them. Some they agreed with and made changes in the final permit, and some EPA said they disagreed and provided an explanation of why. Some comments were submitted by Excelsior, and EPA agreed and modified the draft permit to Excelsior's benefit.
Go to the link below, where you can find a copy of the transcript of the public hearing, and a copy of the comments and EPA's responses to those comments. I think the latter (comments/EPA responses to comments) is the most useful to see what issues may be the subject of appeal, if any.
https://www.epa.gov/uic/excelsior-mining-arizona-inc-gunnison-copper-project-class-iii-uic-area-permit-and-aquifer
It's obvious that EPA spent a lot of time to carefully address the comments. I personally feel somewhat bad about criticizing EPA about a delay in getting the final permit out. After seeing the volume of comments, and the painstaking effort by EPA to try to respond to comments and make the final permit more "bulletproof", I think Ms. Rumrill at EPA Reg IX did a great job and didn't deserve the criticism I levied against her.
Never mind and disregard. Got the proxy and re-read.
Strike price of options (just for employee stock option plan) based on minimum of share FMV when grant of options approved by Board of Directors. The other two plans (restricted share units and performance stock units) don't involve options, but are direct grant of shares or cash equivalent, with value based on minimum of FMV when grants are approved by the Board.
The 2018 Security Based Compensation Plan (the three plans above), if vote-approved, will likely only result in about 3 million more shares, since the older 2017 (grandfathered) plan reserved a total of about 18 million shares for granting. Add the 2018 plan and 2017 plan, and total shares allowed under the combination can't exceed 10% of outstanding shares, or about 21 or 22 million shares. Still dilution, but not as bad as I originally thought.
I'm still flummoxed by the drastic drop in share price. Bought more again today. Hope to see share price stabilize and start to creep up.
In case you may be interested in the EPA Environmental Appeals Board, see the FAQs at the link below:
https://yosemite.epa.gov/oa/EAB_Web_Docket.nsf/General+Information/Frequently+Asked+Questions?OpenDocument#1
At airport, and don't have the proxy/proposals for tomorrow meeting. May want to see how stock plans in proxy are structured for setting option price. Since Greenstone and King&Bay would qualify for at least 2 of the 3 option/share plans, they may be incentivized to establish low share price if the strike price is when the plans are approved (tomorrow)???? Asking for others' opinions on that.
Annual general shareholder meeting. Actually, tomorrow's meeting is both general and special meeting to address/vote on proxy items, which include various stock option plans that can dilute existing shares by up to 10 percent.
And probably more after AGM on Thursday.
No, my sis bought yesterday morn (her first exmgf position). To her credit, she bought more as day went along. She bought 8000 shares. She's game and willing to buy more today.
Yeh, I saw the bought/sold share data on Pershing 143 posted on the Stockhouse billboard. Extremely lopsided (towards sold) for the past month. You are likely right about the pp investors being a major culprit on the selling pressure.
Yeh, I saw the bought/sold share data on Pershing 143 posted on the Stockhouse billboard. Extremely lopsided (towards sold) for the past month. You are likely right about the pp investors being a major culprit on the selling pressure.
Frigging autocorrect .. "Space" = "sp" (share price)
Travelling, but surprised to see the significant space drop. Added 20k shares today. My poor sister bought in this morning, and already realizing a loss. Feel bad since it was on my recommendation.
Possible reasons for sp drop:
1. Likely share dilution from stock plans proposed by Excelsior.
2. Trump trade war, sparking global econ growth concerns.
3. Recent drop in copper prices due to No. 2 above.
4. Risk concerns with possible permit appeal being filed by permit opposition group.
5. Some shareholders may be disappointed with sp action after permit approval announcement, and decided to bail.
Above are just my guesses. Presents good buying opportunity, imho. Volume wasn't that big, considering how many of us on this msg board bought sizable amounts today.
Lol, I don't think so. What matters to me is whether I'm going to be poorer or richer in the next year. My vote and hope is the latter.
Lucky that my holdings in Aptose and Diamedica have been doing well, since Celgene share price has been crappola.
Heh. Bought 10,000 more shares today, and had another 10,000 share buy order at 0.96 USD when the PR was issued which prompted the share price to go back to $1.004 USD. I'll hold onto the funds for that last buy attempt in case EPA Region IX doesn't follow through to meet the June 29th milestone (last business day of the month). If EPA Region IX doesn't meet that milestone, I imagine the share price will be dropping again.
Press Release reaffirming Excelsior's permit timetable guidance:
Excelsior Mining Provides Permitting Update
Phoenix, Arizona--(Newsfile Corp. - June 18, 2018) - Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQX: EXMGF) ("Excelsior" or the "Company") announces that based upon guidance received during recent meetings with the United States Environmental Protection Agency ("EPA"), Excelsior's permitting timetable remains on schedule, and the Company expects to receive an operating permit, the Underground Injection Control ("UIC") permit, for the Gunnison Copper Project, before the end of Q2, 2018.
About Excelsior Mining
Excelsior Mining "The Copper Solution Company" is a mineral exploration and development company that is advancing the Gunnison Copper Project in Cochise County, Arizona. The project is an advanced staged, low cost, environmentally friendly in-situ recovery copper extraction project. The Feasibility Study projected an after-tax NPV of US$ 807 million and an IRR of 40% using a US$ 2.75 per pound copper price and a 7.5% discount rate.
Excelsior's technical work on the Gunnison Copper Project is supervised by Stephen Twyerould, Fellow of AUSIMM, President & CEO of Excelsior and a Qualified Person as defined by National Instrument 43-101. Mr. Twyerould has reviewed and approved the technical information contained in this news release.
Additional information about the Gunnison Copper Project can be found in the technical report filed on SEDAR at www.sedar.com entitled: "Gunnison Copper Project, NI 43-101 Technical Report, Feasibility Study" dated effective December 17, 2016.
For more information on Excelsior, please visit our website at www.excelsiormining.com.
ON BEHALF OF THE EXCELSIOR BOARD
"Stephen Twyerould"
President & CEO
For further information regarding this press release, please contact:
Excelsior Mining Corp.
Concord Place, Suite 300, 2999 North 44th Street, Phoenix, AZ, 85018.
JJ Jennex, Vice President, Corporate Affairs
T: 604-681-8030 x240
E: info@excelsiormining.com
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 timeline for, and the completion of, the permitting process; (ii) economic benefits from the Gunnison Project; (iii) the commencement of commercial production from the Gunnison Project; and (iv) the ability to mine the Gunnison Project using in-situ recovery mining techniques.
In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "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" or "will be taken", "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 estimation of mineral resources and mineral reserves, the realization of resource and reserve estimates, 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, the availability of necessary financing and materials to continue to develop and construct the Gunnison Project in the short and long-term, the progress of development activities, the receipt of necessary regulatory approvals, the completion of the permitting process, 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 inherent in the exploration and development 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 commence at the Gunnison Project, risks relating to variations in mineral resources and reserves, grade or recovery rates resulting from current exploration and development activities, 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 and in the mining industry generally, risks related to current global financial conditions, uncertainties inherent in the estimation of mineral resources, access and supply risks, 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 development process, regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks, including the risk that the financing necessary to fund the exploration and development activities at the Gunnison Project may not be available on satisfactory terms, or at all, risks related to disputes concerning property titles and interest, 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.
Buying more again, today.
Nick
I voted "FOR" for all of the items except the amended stock option plan and the restricted share unit plan. I voted "FOR" the Performance Share Unit plan. Again, that's just my preference, and not a recommendation to other shareholders. My main concern is shareholder dilution. I'm a strong believer in pay-for-performance, so long as there are valid performance-related milestones. The Board of Directors decide what those would be, so hopefully, they don't set farcical measurements that are tantamount to a giveaway of up to 10% of outstanding shares.
Anyone read the AGM notice and proposals for voting? Bottom line: With the "Security Based Compensation Plans" Excelsior Mining is proposing for 2018, there will likely be shareholder dilution of up to 10% of current outstanding shares (could actually be higher since once an option is exercised, that optioned share is then included in the counting of the outstanding shares baseline).
The Security Based Compensation Plans consist of:
(1) An amended stock option plan (exercise price per common share must be at least the TSX closing price prior to the approval of the grant of options by the Board of Directors) - grantable to directors, employees, corporations that have a right to nominate a director to the Board of Directors (e.g., Greenstone), and Excelsior's consultants/their affiliates;
(2) Restricted share unit (RSU) plan, grantable to a director, officer, employee, employees of management company (e.g., Kingston & Bay) or consultants to Excelsior, or their permitted assigns - value of the RSU determined by the stock exchange share price on date the RSU is issued;
and
(3) Performance stock unit (PSU) plan, grantable upon achievement of some milestone/performance goal set by the Board of Directors to an officer, employee or consultant to Excelsior or a related entity of Excelsior - value of the PSU will be the stock exchange price on day the PSU is grants -- no cash need to exercise -- cashless exercise whereby recipient can get common share or cash equivalent.
On the voting form, you can individually vote on each of the above plans. Not sure how much sway your vote will have, given Greenstone Resources owns over 48% of outstanding shares and will likely vote "FOT" since they will real option benefits under at least the first 2 plans.
Personally, I'm okay with the Performance Stock Unit plan (incentive-based, purportedly), assuming they achieve the milestone on time and on budget. Rebecca Sawyer, who's in charge of getting the permit over the finish line, should not get a glamorous PSU allocation based on the permit delays, imho.
I understand employees, officers, and even the directors expect some form of stock option plan, but a total of 10% of current outstanding shares? Wowser, that's a large dilutive hit. And because the stock option plan (option price) is based on the exchange share price when the Board approves the stock option plan (presumably at the AGM), one might understand there is some manipulative downward pressure on the share price until the Board approves the plan which sets the price for Plan No. 1 above.
I'm not making any recommendations to you all -- vote as you deem those intended beneficiaries have earned such compensation plans. Read the voting instruction form you receive from your broker (seems the brokers have their own separate forms of voting instructions).
I now have 180K shares, not counting those in my wife's and son's accounts. I'm a little reluctant to buy more (maybe buy 20K more shares, if it drops below $1 USD, just to round the number of shares out).
My reluctance is based on "what if EPA doesn't issue the permit by June 30, end of Q2 as estimated by Excelsior?" -- I think there will be some shareholders who take the estimates quite literally, and will sell if June 30 arrives and still no permit.
In short, risk off (no more buying by me) for now, unless it drops into the upper 90 cent range.
GLTA.
Any thoughts/reasoned guesses on why the sp is down today? Been buying more this morning. Not too keen about raising the salaries of some at Excelsior (see SEDAR filing), such as Rebecca Sawyer, who's in charge of getting the damn permit finalized. She needs to rattle some cages at EPA Region 9 to get the UIC permit shaken loose, if she wants that pay raise. Achieving the EPA permit milestone has been an embarrassment to Excelsior, who has, thus far, been great on keeping to schedule.
And an additional 10,000 shares. Damn permit better be coming soon, to make me feel better.
Bought 4400 more @ 1.038 USD. Didn't think I'd get the chance to buy more at that price level, but some folks are selling. Have about 160,000 shares now. Need that permit and financing to get done!