Excelsior Mining Corp (EXMGF)

[LCP77]

Local support.

I think its the same story AZCU. I wasn't able to open it but found it elsewhere it think.

http://www.bensonnews-sun.com/news/article_2675c844-71e0-11e5-86ed-8f87856903f4.html


Linscott said, “This deal is ultimately good for the community. You have a larger mining project – with economies of scale, you get a larger bang for the buck with the adjacent parcels. Nord did not have the finances to go forward and Excelsior is a publicly-traded company that has the wherewithal to go forward. It will benefit the community.”

The back taxes from Johnson Camp Mine must be paid back to the county first following the sale, which will also benefit the community.

“That's in the neighborhood of $3.9 million going to the schools, hospitals and other entities. That's pretty substantial. For the county to have that (which would not happen if the mine went bankrupt) will be pretty nice,” Linscott said.

Cochise County Supervisor for District 3, Richard Searle, said, “The sale would bring the taxes current (for Johnson Mine). We are short $1.5 million to $1.8 million and that would solve our deficit issue for this year. The county gets about 25 percent of the taxes, while the schools, college, hospitals and fire districts get the rest.

“It's great to see the business stay open and it's gravy to solve our deficit problem for this year,” Searle said Monday.