Trofee
Yes, Excelsior has its final permit, but the permit is still subject to challenge by appeal until August 1, 2018. If no appeal before then, then the permit can no longer be challenged by any groups who may have been objecting to the project.
Likely that Excelsior Mining won't be able to get the next round of financing until August 1st, since the funding investors wouldn't risk lending money until the appeal period is over, with no appeals.
As for the drastic, recent drop in share price -- I think we all aren't sure what has caused such a drop. Copper price recently down (due to trade war situation). Possible that some of the parties (affiliated with Greenstone) who provided equity-based financing in last round (December 2017) decided to sell their shares, since the hold period expired on May 20th which allows them to sell their shares (I believe their investment basis in those shares averaged about $.72 or .73 USD per share). Maybe risk associated with potential appeal of the permit before August 1st, so why face risk of project delay and why not sell now for a little profit? Who knows?
I think those with some funds to invest will rue missing out on this opportunity to buy Excelsior Mining's shares at a great price. It's a great time to add to one's position, or for new investors to start buying in.
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