Big Picture – A Deep Dive Examination of Excelsior Mining Corp
Excelsior Mining Corp Snapshot
Full production rate is planned at ~57,000 tonnes or 125 million pounds of copper per year, which is ramped up through cash flow from an initial ~12,000 tonnes or 25 million pounds operation, processed through their SX-EW processing plant.
Based on using a life of mine US$2.75/lb copper price, the Feasibility Study indicates a post-tax NPV (7.5% discount rate) of US$807 million, and an IRR of 40% with a payback period of initial capital of 2.8 years. Initial capital expenditures for the 25 million pound operation (including 15% contingency) are estimated at US$46.9 million with an average life-of-mine direct operating cost of US$0.65/lb. These metrics are amongst the lowest per pound capital and operating costs for copper projects in North America.
Gunnison Copper Project
North Star Probable Mineral Reserve of 4.5 billion pounds (782 million short tons grading 0.29% Cu) contained within a Measured & Indicated Resource of 4.9 billion pounds (873 million short tons grading 0.29% Cu). Mineral Resources and Reserves are at a 0.05% cut-off.
The Gunnison Copper Project consists of 9,560 acres located 65 miles southeast of Tucson Arizona within the copper porphyry belt. The towns of Benson and Wilcox are located nearby and can provide skilled labour for the Gunnison Copper Project. The property is ideally located with access to electrical power on the property, previously developed infrastructure, and supported by an abundant water supply.
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Johnson Camp Mine
On December 15, Excelsior acquired the Johnson Camp Mine (JCM) for total consideration of US$8.4 million. JCM mining claims are contiguous with Excelsior’s Gunnison Project. The property consists of 59 patented lode mining claims, 117 unpatented lode mining claims and fee simple lands. The existing facilities includes a 4500 gallon per minute solvent extraction plant, a tank farm, an electrowinning plant with 88 electrowinning cells with capacity of 25 million pounds of copper cathode per annum, solution storage ponds, a truck shop, core storage building, offices, warehouse, laboratory, mechanical shop, a primary and secondary crusher, and various other equipment.
Johnson Camp Mine has a long history, with copper production dating back to the 1880s. Mining operations at JCM stopped in 2010 and has since been producing small amounts of copper from residual leach pads. The mine had been in receivership since 2014.
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Stephen Twyerould, Ph.D.
Chief Executive Officer and President
Mr. Twyerould has over 30 years of experience in the exploration and mining industry, 17 of which were spent with WMC Resources Ltd. He managed WMC's gold geology group comprising 50 geologists across three operational sites, greenfields exploration and offshore development sites. He has extensive corporate, operations and exploration experience, covering a wide range of commodities both within Australia and offshore. Mr. Twyerould has a proven track record of discovery and definition of world-class ore bodies. In addition, he has expertise in unlocking geological potential to deliver operational improvements and business growth. He helped take Reliance Mining (now Consolidated Resources, CSM-AU) from a market capitalization of AUS$3 million to AUS$100 million in 4 years. Mr. Twyerould received a doctorate in Geology and Geochemistry from the University of Oregon in 1997 and a BSc (Hons) in Geology from the University of Melbourne, Australia in 1984.
Roland Goodgame, Ph.D.
Chief Operating Officer
Mr. Goodgame has been involved in the mining industry for over 30 years and has held senior roles in several large mining companies. He served as Senior Geologist of Anglo American PLC from March 2002 to January 2007 and was responsible for Asia/Pacific nickel and copper exploration and project evaluation/generation. Prior to this, he spent 14 years with WMC Resources Ltd., where he gained extensive experience in small and large scale gold and nickel mining. He received his doctorate in Geology and Geochemical Modeling at the University of Oregon in 1997. Dr. Goodgame graduated with a B.Sc. in Geological Engineering from the Colorado School of Mines in 1987.
Chief Financial Officer
JJ Jennex, B.A. Comm
VP Corporate Affairs
Mr. Jennex has been active in both the junior resource industry and the international real estate sector for more than 15 years. During this time he has held numerous positions with both private and publically listed companies. Mr. Jennex will be responsible for all aspects of corporate communications with shareholders, media and all potential investors.
Ms. Sawyer comes to Excelsior after a distinguished career as a highly accomplished environmental professional within the mining industry. A graduate of the University of Nevada, Ms. Sawyer has held senior environmental engineering and manager positions with Freeport-McMoRan Inc., Simplot and Newmont Mining. With her extensive experience in groundwater remediation, environmental planning, policy development, and regulatory compliance, Ms. Sawyer will lead Excelsior's preparation of environmental permit applications for air and groundwater as required by the federal, state and local regulatory and governmental agencies.
Ms. Paine has over 30 years’ experience as a senior paralegal, specializing in corporate, securities and regulatory matters both in Canada and the United States. For the past 10 years, Ms. Paine has acted as Corporate Secretary or Assistant Corporate Secretary for a number of public companies trading on various stock exchanges. In addition to being the Corporate Secretary of Excelsior, she is currently the Corporate Secretary of Logan Resources Ltd. (TSX-V), and Assistant Corporate Secretary of Alderon Iron Ore Corp. (TSX) and Canada Jetlines Ltd. (TSX-V and OTCQB). Ms. Paine is also the Corporate Secretary of Xineoh Technologies Inc. and Voleo, Inc
Greenstone Resources 50.4%
I&O Common Shares - 167,363,952
Stock Options - 15,876,000
Fully Diluted - 183,239,952
|Vancouver Office:||Gunnison Office:|
|1240 - 1140 West Pender Street||Concord Place, Suite 300 - 2999 North 44th Street|
|Vancouver, BC||Phoenix, AZ|
|Tel: 604-681-8030 ext 240|
Toll Free: 1-866-683-8030
For more information please contact:
JJ Jennex, VP Corporate Affairs
Tel: 604-681-8030 (ext.240)
Toll Free: 1-866-683-8030
Email: [email protected]
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