Excelsior Mining Corp (EXMGF)

[Photonics_Guy]

Taseko has a long row to hoe at Florence.

They are only permitted for the small pilot plant. The mine is located 2 mi from the city of Florence. The Florence water district and local developers and majority of city residents are adamantly opposed to the mine.

Unfortunately, permits for full production at Florence are YEARS away. I believe they will ultimately be successful, but it's going to be a long difficult road. I am not surprised to see TKO share price back off a bit.

In contrast, Excelsior's Gunnison Copper Project is fully permitted. They don't require any additional permits to enter into full 125 MLb/yr production. Excelsior has all financing in place to begin production with Stage 1 25 MLb/yr with a sizeable amount left over for contingencies. The family that owns the Dragoon water district are major shareholders in Excelsior and are enthusiastic supporters of the project along with the majority of residents. Cochise county is the poorest county in all of AZ. The Gunnison mine is adding a lot of jobs for the local community, both directly and indirectly.

Assuming Stage 1 production successfully meets benchmarks, they will have minimal issues with obtaining follow-on financing for Stage 3 build out. I am fairly confident that they will skip Stage 2 if economic conditions prevail.

PG