(MIN) Quote

Thanks. Thank the Lord the loss is manageable. It’s been a hard lesson for me, and now I have strict rules to limit the capital I can invest in a single stock. Excelsior still has the potential to become a 10-bagger from the current price, though—I just hope the management doesn’t mess it up.

I am sorry to hear that. I have taken a massive hit in Lightwave after being up big. Read the wrong tea leaves. It does put a lot of stress on you.

I wasn’t as lucky as you with Excelsior :) I jumped in way earlier and my average cost is a lot higher. As I mentioned before, my paper loss with Excelsior is in the millions. I’ve spoken with JJ Jennex (former IR), Mark (former chairman), Stephen (CEO), and Shawn. I like Stephen and Shawn. JJ gave me a lot of misinformation; I can’t tell whether he was lying to me or if he just didn’t have the right info himself at the time. Anyway, my loss, my mistake.

I’ll hold patiently.

I like Shawn and have quite a few conversations with him. I have never spoken to management though. The only reason I purchased MIN was thru my involvement with NIocorp and some there mentioned their interest in Excelsior. I waited until it was down to around .22 CDN before buying shares and basically bought down to 12 cents. Basically break even here. Niocorp looked great until it didn't and I bailed before and during the merger with a creepy Spac. Thought that was my lotto ticket but as with most speculative companies, they go bust. Niocorp killed their initial wave of retail shareholders thru a r/s and they are treading water at the moment. I also own LWLG and TLT. Great stories but brutal management has killed the share prices.

Yeah, I talk to their IR when I have questions. But what I’ve realized is that the information you get from IR can sometimes be disinformation or misinformation, so I don’t reach out to them that often.

Thanks. Do you have contact with IR?

Greenstoe is still on the board. My guess is that Greenstoe isn't as wealthy as we thought, which is why their goal now is to avoid ownership dilution while the share price is extremly low. They’d rather wait if they can’t secure a good deal. Success at JCM would provide them with a solid foundation. Patience is key here; let’s see how things go with JCM in 2025.

The name escapes me but the fund overseas has a lot to lose if Excelsior fails. Is it Greenstone? Couldn't they offer the funds needed to get the ball rolling. I know they have bankrolled the company thru the years. I wrote a long email to them last year but they never responded to me.

Copper is in critical need and Excelsior flounders. Maybe a change in management would help.

That is a bummer regarding Gunnison. They should take on a partner or offer themselves up in a takeover.

As far as I know, everyone at Excelsior understands that Gunnison is the crown project, but they don't have enough capital to get everything started. Regarding JCM, it’s not just a test field for Nuton technology; everyone believes they can make money from it with copper prices at around $4 per pound. Nuton technology is for sulfide leaching, but roughly two-thirds of the ores at JCM are oxide, which will use traditional leaching. Only one-third is sulfide, which will be leached using the new technology. If copper prices stay above $4, JCM is unlikely to fail. In the short run, the cash flow from JCM will cover most of Excelsior’s Opex while paying back Rio's Capex and give the company some breathing room.

I believe the company is also considering unloading side projects to secure capital for restarting Gunnison, but there has been no success so far.

Sitman, how much does the company expect to make from this mine? Did Rio give MIN money just to see if this process works or do they have something else planned for the company? We need to get going on Gunnison though. Copper has taken a real beating the last month or so.

Any news is good news. Feel like this stock price has been trapped in quicksand for a long time.

I like to see that JCM is moving forward. When commercial production starts at JCM, at least the cash bleeding will be stopped if copper prices remain solid.

I like this news . If everything works well perhaps Rio Tinto might try to take control of our lease.

Excelsior Mining Provides Update on Johnson Camp Mine Construction in SE Arizona

https://www.excelsiormining.com/news/news-2024/xcelsioriningrovidespdateonohnsonampineonst20240808

Phoenix, Arizona--(Newsfile Corp. - August 8, 2024) - Excelsior Mining Corp. (TSX: MIN) (OTCQB: EXMGF) (FSE: 3XS) ("Excelsior" or the "Company") is pleased to announce that construction has commenced at the Johnson Camp Mine ("JCM"), in southeast Arizona, with first copper production anticipated in H1 of 2025.

Following the decision by Nuton LLC ("Nuton"), a Rio Tinto venture to proceed to Stage 2 of a process to restart the JCM mine using Nuton™ copper heap leaching technologies (see Excelsior press release dated May 15th, 2024), Excelsior has completed the bulk of the planning & engineering and has mobilized crews to start construction. M3 Engineering based in Tucson has been awarded the EPCM contract. Earthworks related to the construction of the new leach pad has commenced, including crushing of the over-liner material. Rango Inc. from Mesa was awarded the leach pad construction and overliner crushing contract and is ramping up efforts to achieve the Excelsior milestones.

To facilitate the start of these activities and Stage 2, Nuton recently provided funding of $7.9 million through August 2024. Additional funding and activities will be announced as they progress.

"The commencement of leach pad construction marks a key milestone in Excelsior's partnership with Nuton. The M3 and Rango team we have assembled is world class and committed to delivering a safe and timely project. The opportunity to build and operate Nuton's first demonstration of their state-of-the-art copper leaching technology is a privilege Excelsior and our team is proud to deliver," comments Robert Winton, SVP Operations and General Manager of JCM.

During construction, progress along with an image gallery will be posted on the company website at www.excelsiormining.com.

That is a great read. Not sure why it will take a long time to get the mine back up and running.

Interesting read. https://justthenews.com/politics-policy/energy/scaling-copper-production-green-energy-not-just-difficult-its-impossible

I agree. Ppl who dumped their shares in last few days will most likely regret soon...

i think there is a misunderstanding after the webinar that excelsior is going to do open pit mining. That will only be the case if well stimulation fails which is unlikely.

This is the only company I did not get into at a much higher price. These spec companies rarely make it but copper is such a needed product that I took a flyer. Long 200,000 at present which isn't much but would be nice if they can get the Gunnison up and running again. It seems like every company I have a position just moves the goalposts back.

Check out the recent news on Theralase Tech.. The stock should be trading over 100 bucks a share but only 14 cents. When you have a horrid management team, that is usually the culprit.

Not that bad, in my opinion. At the current copper price, JCM is likely being underestimated. It will start generating revenue soon and slow down the bleeding. There are also asset sale opportunities for Strong and Harries. The well stimulation test for Gunnison will start once they have enough capital, and it will likely be successful.

But I have been wrong about this company for over 5 years, so...

Is it in the best interests of Rio to make a bid for Excelsior. They can afford the wait. Not sure where the stock price will be in a year but this appears to be going into a deep sleep again. Very frustrating to say the least.

If open-pit mining is the plan, they don't even need to do the fracking test. Open-pit optionality was added for fair value comparison. It was supposed to attract potential investors, but instead, it has angered the existing investors and scared shareholders away. Failed communication from Robert.

Robert said that they need to get financing for the fracing tests which may be done by year end and fracing tests may start in a year or so.
Furthermore day had open put for Gunnison in their slides as an alternative and Robert got asked which permits are needed for open pit at gunnison and how long it will take to get them and he said that they already have all permits but they need to change / amend them which may take up to two years or so.
So one year waiting for one shoot fracing test and maybe permits change for another two years.

ISR and Well stimulation is still the plan for Gunnison. They added open pit optionality for fair value comparison purpose, but apprently it didn't serve well.

Regarding switching Gunnison to open pit, if that was to occur, that would push Gunnison out at least another five to ten years, IMO. Although Robert seemed to allude that permits were in place to do that (an assertion I question) what will delay an open pit is not only a mine design plan and financing, but having to deal with environmental lawsuits which will surely follow. I hate to say it, but I think EXMGF is dead money, possibly for quite some time. An operating JCM will buy some time and keep the lights on, so to speak, but it's not really a catalyst to drive the stock price higher.

@CuJunior, looks like they added open pit optionality for Gunnison in the recent presentation (most likely after the question was posed) but if you move to slide 7, it still lists Gunnison as ISR, with JCM and Strong/Harris as Open Pit, so doesn't seem like their roadmap has changed hopefully.

LOL, an Excelsior shareholder from TD (MMID: 007) is really pissed and dumping his shares like crazy. I believe it's an overreaction to the webinar..

You are correct. I guess not only I, but many other investors misinterpreted it as well when Robert mentioned it takes up to 2 years to get the permit amended for open pit. I have confirmed with the company that ISR and well stimulation are still the plan.

Open pit is in the latest corporate presentation for June 2024

Pretty sure you misinterpreted the webinar Q&A. Someone asked if Gunnison could be operated via traditional open pit and Excelsior responded hypothetically they could (if permits are received) but also stated this was not in their plans. Please correct me if I'm wrong if this was stated firmly elsewhere and not hypothetically. It was simply a response to a random question.

Or a good time to get cheap shares for a very long wait until in-suitu is actually producing.

Every dollar counts for Excelsior. I hope 1) Copper prices stay high long enough; and 2) JCM proceeds as planned without any screwups.

They need revenue anywhere they can find it. Without Gunnison back on line, this could be a long wait.

I can't tell. There are many uncertainties about Gunnison now that they have brought open pit mining back to the table. JCM is the focus at the moment, even though most shareholders are not in favor of it. Patience is needed more than ever; this is not a good time to exit.

Can you tell how long they expect Gunnison to be shut down and when they will start work to fix the issues.

Guess someone is pissed by yesterday's presentation and dumped his shares today.

Right, but the income will be used to payback Nuton's capex, after paying royalties and streams.

Not very exciting. Would have liked more info about the in-suitu progress.

Well at least they seem to have a chance to generate some revenue from the JC now.

How do you folks like today's webinar?

Another 12 month to start test the fracting tech with gunnison? Lol

Go to the Greenstone website. I pulled this straight from it: Greenstone not only provides capital but helps with "all aspects of project development (not just ‘hard’ technical issues such as geology, mining and processing)" and also this - Greenstone helps with "project management and execution plans;"
Management is doing the best possible, they cannot magically fix the geology. Greenstone is satisfied with their work
and must have some control over the direction of the project, so they can't really complain. So that is the reason.

Greetings Bag Holders I hope on Tuesday one caller can get this question into the discussion. WHY ...is this J Ass .. and the whole management team been not been TERMINATED !!!! As I said in a previous post .. If this was a NBA, NHL, MLB, NFL franchise these fuckers would have been TOAST ... Years ago. My God .... How are they still here ???????

he-he-he........Sheesh.....Excelsior !




A Jan '23 (8 yr)

Your suggestion makes sense then.

Read the meeting circular available through your broker when you go to vote. Greenstone would buy based on current market prices, but not on the open market.

The current trading volume is so low, are you sure we need to worry about Greenstone buying from the open market? No one is buying now, and not many ppl are selling either. Any buying power would easily push the share price up.

I have been in since 2014, usually post on stockhouse, but of course I follow investorshub and ceo.ca.

I am posting here because I think item four that we have to vote on is important. I think we should vote NO on item 4 allowing Greenstone to convert their accrued interest early. (I think they can convert their principal early, but that doesn't matter, it is at a fixed price)

Allowing them to convert the interest early instead of September 30, 2026, lets Greenstone buy at the current depressed stock price and lets them get over 50% of the company, i.e. control.

Greenstone is not allowed to vote on this, so our vote matters. Sure, management recommends approval, but what else can they do without upsetting Greenstone.
I see no advantage to us to let Greenstone convert the accrued interest now. In case you care, I have 700,000 shares, and every vote helps.

I've been an investor for close to nine years now in EXMGF. Unfortunately, this stock is going nowhere until Gunnison proves out. And that is still years away, in my opinion. The activities at JCM will have no positive effect on the stock price as any meaningful results from the Nuton application is also at least a year or two out. The only real positives are first, establishing the relationship with Rio Tinto and second, the coming worldwide shortage of copper. We are faced with a decision: either get out or load up and hope for the best.

Years ago, I sold shares of $BIR, $CVE, $PEY, $CCO, and $DML that were worth millions and put most of the money into $MIN. Now, the stocks I sold have tripled or quadrupled, and $MIN... well, you guys know the story... Sometimes, I just can't understand the board and management of Excelsior. Stephen the CEO holds more than 7 million shares; shouldn't he work harder for the company for his own good? And Greenstone, as the biggest shareholder, shouldn't they do something to fix the disappointing and costly management?