Excelsior Mining Corp (EXMGF)

[Photonics_Guy]

Revello -

Thanks PG !! Pretty obvious from reading the report that the PI Financial folks and their technical consultants are much more savvy than nearly all of us on the technical aspects of the CO2 challenge that Excelsior Mining is tackling.

Good volume today.

Yes, I agree. The article is pretty conservative with its CD$1.75 target price. That target is based on $3.25/lb copper pricing ($1.25 less than current Cu pricing), 75% NAV valuation (25% discount to NPV), and a discount rate of 12% (the Feasibility Study used 7.5%). All of these factors are very conservative. Time will tell if this conservative view is fully warranted.

The article mentions that they can only backflush a few wells at a time. However, I have also heard they may attempt to daisy-chain additional wells, which would expedite the rinsing process and alleviate the water evaporation requirements. I've not received a confirmation this is true.

PG