Excelsior Mining Corp (EXMGF)

[Revello]

3d Quarter MD&A

Link to the SEDAR filing: https://www.sedar.com/CheckCode.do;jsessionid=0000AkbecSNajKTPXuFzUcy60NH:1884ter20

One note: The MD&A doesn't indicate that Altius exercised the additional 0.5% royalty option, which, as Jinxed described, had been exercised, per a conference call with Altius.


Next news should be the final closing of the Triple Flag financing deal, and then some serious construction work being started (they've already started some material ordering/site prep/tech design & engineering/hiring work).


I'm very optimistic on their 12 month timeline for starting production, with a fully vested/approved permit for up to the max 125 million lbs/yr (no need for further permitting to expand capacity to Stage III). I also like that Triple Flag insisted on warrants exercisable at $1.50 CAD, so one could say they have a rosy outlook on the share price appreciation in the intermediate future.