Replies to post #257 on Excelsior Mining Corp (EXMGF)

[masslanding]

NEWS RELEASE

I am happy to share today’s excellent news from Excelsior Mining Corp.

 

The company has announced US$14.0 million total gross proceed financing with Greenstone Resources. The equity portion of the financing is to be done at a significant premium to the market at CDN$0.45 with no warrant for gross proceeds of US$10.0 million. In addition, a sale of a 1% gross revenue royalty on the Gunnison Copper for gross proceeds of US$4.0 million.

 

As it mentions below in the full News Release, “Upon closing, Excelsior would be fully funded through to a decision to construct and the expected completion of the permitting process. Receipt of final operating permits is expected in Q2, 2017. Construction is scheduled to begin in Q3 of 2017, with commercial production anticipated in 2018.”

 

Excelsior’s Gunnison copper project has an ultra-low cost (70 cent/lb USD. Cu direct cost, $1.24/lb USD all in sustaining cost) and ultra-low capex ($45.9 million USD