Gunnison Copper Stock Price, News & Analysis

Excelsior Mining Corp. announced promising assay results from its infill drill program at the Johnson Camp mine in Arizona. The results from the Burro pit showed improved mineralization at the north end and plans to restart mining operations later this year are underway. A total of 31 out of 34 planned holes have been drilled, with average leaching potential exceeding 60%. This positions the company to develop a mine plan focusing on high-grade sections for enhanced cashflow. Ongoing permitting for a new leach pad is advancing.

Excelsior Mining Corp. announced favorable updates from its Prefeasibility Study (PFS) on the Gunnison Copper Project and Preliminary Economic Assessment (PEA) on the Johnson Camp Mine. The PFS indicates a post-tax NPV of $1,348.5 million with an IRR of 44.9%. Initial capital costs are estimated at $45.1 million, with a payback period of 4.8 years. The Johnson Camp Mine shows a potential after-tax NPV of $7.8 million, assuming copper prices of $4.25/lb. Risks identified include production efficiency and cost pressures, while opportunities exist in resource optimization and enhanced production methods.

Excelsior Mining Corp. (OTCQX: EXMGF) filed its 2021 audited annual consolidated financial statements and MD&A with Canadian securities regulators on March 23, 2022. The documents are accessible on the Company’s website, and shareholders can request hard copies free of charge. Additionally, the Company announced the resignation of Mark Morabito, a founding director and former chair. Excelsior operates the Gunnison Copper Project in Arizona, which is permitted for 125 million pounds of annual copper production.

Excelsior Mining Corp. (OTCQX: EXMGF) announced the mobilization of two diamond drills to the Johnson Camp Mine (JCM) for infill drilling at the Burro and Copper Chief open pits, as well as geophysical anomalies at the Strong & Harris and Peabody Sill deposits. Godbe Drilling LLC will undertake 11,000 feet of infill drilling and 10,000 feet at S&H, aiming to support the restart of copper mining at JCM. Drilling is expected to conclude by the end of Q2 2022, with the goal of generating cash flow during the construction of the raffinate neutralization plant for the Gunnison Copper Mine.

Excelsior Mining Corp. has secured an extension for its US$15 million credit facility with Nebari Natural Resources, now maturing on September 29, 2023. The company has also gained access to an additional US$15 million credit facility, increasing the total to US$30 million, with a new maturity date of July 31, 2024. These funds will support the restart of the Johnson Camp Mine and development of a new heap leach facility. Approval from Triple Flag International is required for certain agreements related to this financing.

Excelsior Mining Corp. (OTCQX: EXMGF) announced a partnership with M3 Engineering & Technology to update the technical report for its Gunnison Copper Project and Johnson Camp Mine. This follows the initial announcement made on September 9, 2021. The updated report will detail changes in the operating plan, including the implementation of neutralized raffinate at Gunnison to enhance production rates. Johnson Camp could generate 25 million pounds of copper annually for up to five years. Operations are anticipated to start in late 2022, pending necessary permits and approvals.

Excelsior Mining Corp. (OTCQX: EXMGF) has filed a National Instrument 43-101 Technical Report for its Strong and Harris copper-zinc-silver project in Cochise County, Arizona. This report includes a Preliminary Economic Assessment (PEA) detailing a mine life of approximately 7 years and an estimated 54 million tons of material to be mined. Initial capital costs are projected at $328 million, with pre-tax NPV of $325 million and an IRR of 25%. The report emphasizes the potential for Excelsior to enhance its production capabilities alongside its Gunnison ISR project.

Excelsior Mining Corp. is set to host a live video webinar on October 20, 2021, at 11 am EDT. President Stephen Twyerould and SVP Robert Winton will lead the session, discussing key topics including the Gunnison Copper Mine's operations, Johnson Camp Mine plans, and corporate strategies to finance these projects. Participants can register here. The company emphasizes its environmentally friendly copper extraction methods in its operations.