I think it's a good sign, too. I expect we'll shortly see a supplement to the shelf prospectus for the first sale of securities to raise operating cash and perhaps some for construction.
Excelsior currently has about $6 million in cash/ST equivalents, and has to pay off the final installment payment (~$2.2 million) for the Johnson Camp Mine purchase before December 31, 2017. They don't want to put themselves into a cash liquidity crunch, so I think the fund raising will come pretty shortly (if involves equity sale, hopefully it'll be after a good pop in the company's share price). Of course an equity sale in the form of common shares sales and/or warrants will likely result in some shareholder dilution, but for a damn good cause.
If you want to read the prelim short form shelf prospectus, or the recently filed MD&A (on Nov 14th), you can download them at SEDAR, link:
[url]http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00025928&sub=1
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