Excelsior Mining Corp T.MIN

Timing of Offering Makes No Sense Unless

[Lenny1K]

In recent conversations with JJ, he had made it clear that Excelsior had enough money on hand for quite a while. However, management never wanted cash levels to recede to levels that might be worrisome and would not wait for the last minute. In addition, management wanted to limit dilution (for obvious reasons) and, therefore, wanted the stock to rise before a public offering. The timing of the PP makes little sense if you assume the CRUX article had no validity. It has been in all shareholder's best interest to have a higher stock price before a PP. Why would the company not immediately and publicly refute the Crux story? How about the threat of litigation re the article? How about some insider buying after telling their side of the story? How about anything? Perhaps, management took advantage of the one day rise in the shares knowing that they had nothing positive to say to move the stock higher and get a higher PP price. I held two copper mining stocks. Unfortunately, the larger position was Excelsior, the smaller Copper Mountain Resources. I have, in under a year, a triple on Copper Mountain. Over the past week, or so, I sold my entire Excelsior postion of well over a million shares. I made a modest overall profit on shares I have held for many years. Trading volume had increased and made it slightly easier to clear out the position, although I had to take some haircuts in my sell orders. In my last conversation with JJ, a couple of weeks ago, without him saying it, I got the feeling that all was not progressing smoothly re the improvements in the production process. Of course, maybe I was reading something into this this that was not there. Then came the Crux article. Then came a posters note that one half of the wells, in the one third of the wells operating, were not functioning properly. Then came the public offering, at a time when it did not seem the most opportune for shareholders.

Anyhow, I have made many mistakes in my investment life. This is probably another one, however, things just do not add up for me. Hope Excelsior makes all of you a potful of money. I have put some of my proceeds into Arizona Metals Corp and I hope it makes me a potful of money. Time will tell if I was right or not in dumping EXMGF. Most important, best of health to everyone.

[metalhead666]

Well said...you're right...it doesn't add up. Smart thing to do is stand aside ...you lose nothing by doing so and avoid a potential catastrophe if this is a bust.  When you can know for sure that all technical issues are or can be resolved there's still a long way to go in this copper bull market and a long way to go to get to nameplate of 125 million lbs per year...plenty of

[Coppergirl]

Hi Lenny  I know you thought highly of this situation but you like me felt something not right  I sold about 250000 and that was hard due to liquidity issues .I like you felt a lot of blah Fromm JJ  He seemed like a deer in headlights  I wasn't about to risk a lot of money after hearing this  I wasn't fortunate enough to make a profit but didn't want to risk

[dollpartz]

As to this .. $18 mill Sept .. they burnt thru $6 mill from previous Dec? .. so I dunno, they have what .. more than $10 mill  before this PP .. that's not a whole lot and its not nothing.. I dunno, it was a bit on the slender side considering that increased burn rate .. now of course they may have more money than brains.

[metalhead666]

They had no money prior to the PP...they fully tapped their high interest line of credit....stupidly high interest rate mind you.

[dollpartz]

They're also part of the Crimson Cult .. missed that one .. I get it .. I get your points. It may not go according to Hoyle. Or isn't. All the same you can't expect people to trust you implicitly. I can call JJ  and he can tell me only what I want to hear, but at least I know who he is. I don't know you people from Adam, whether you owned all those shares or not, whether you

[dollpartz]

And when you say 'meeting" .. what kind of meeting? Who did you meet? How did you meet? Over Zoom or something?

[someday2]

I have always found that if they keep repeating themselves, they are not reliable.

[someday2]

I meant bashers....not managers...(:

[metalhead666]

I sent an extensive list of specific questions after my initial meeting....I received NO satisfactory answers. I further found out about the non functioning wells, the CO2 problem and unidentified problems with the wells not affected by the CO2 blockage....again I asked for specific explanations of those specific wells...problems, remedies etc...I got crickets chirping. That's why and when I

[dollpartz]

You didn't answer about the nature of the meeting and who you met .. maybe you will though. Let me ask what I think is a very key question: how did you find out about non-functioning wells etc? From whom? See, the Crux author did not get his/her information from the company officially .. and one can't help but wonder if the information you got is from the same source as the Crux author or

[metalhead666]

JJ told me that only 1/3d of the whole wellfield is being charged up...of that 1/3d only half are functioning....the other half have issues with CO2 bubbles blocking solution flow....I asked about the other non functioning wells and was told "they are all different" implying that it is something other than CO2 inhibiting the rest of the non functioning wells...I pressed him on what is

[dollpartz]

Ah ok, I see .. thx!

[dollpartz]

Oh I just wanted to add that the meaning 'they are all different" is ambiguous. To me it doesn't necessarily imply other issues. It can still mean it is the same cause but manifests itself various ways or degrees depending on the well ..anyway .. now that you don't own it, I recommend you relax a bit .. I would ..

[dollpartz]

I'm still confused about this .. half of the 1/3d is non-functioning. Then you mention the other non-functioning ... you mean the other 2/3d? The ones not charged up? "They are all different" refers to them?

[metalhead666]

NO... 1/3d of the entire wellfield is being pumped with acid solution and undergoing "optimization" Half of those wells are not functioning, half are. Each well is apparently uinique in its issues the well field is obviously not homogenous Of the wells not functioning in the 1/3d that's receiving acid solution half aren't because of CO2 bubbles The other half not functioning

[dollpartz]

Ah half of half .. Good thanx ..

[Unicorn9000]

I don't think metalhead believes half of what he's saying. he is getting your attention so he keeps repeating himself.   however he won't be here wasting his time if he has no vested interest.  he has his target price to buy in until then he will keep bashing 

[metalhead666]

Wrong. I wouldn't touch this with your money. Not until the company comes clean, fixes the issues, provides technical data, proves that it can work etc.  It is nothing but risk now. There's no reward high enough to justify betting on the unknown that could potentially go to zero

[metalhead666]

I'd add...every single copper miner I track is at yearly highs today...many up double digit %....why does this project just sit here or continue to drop?  Things that make you go hmmmm

[dollpartz]

Unfair comparison. How many of those are in the midst of a PP? Half of half of zero

[metalhead666]

Yes, half of half...I don't know the specific number of wells only that half are not working now.