Time to take some money off the table Good sell call here this morning...
Excelsior Mining (MIN.V) has released an excellent pre-feasibility study last Friday which sent the share price soaring to an almost 2 year high. Even though the PFS shows excellent economics, we are surprised by the market reaction, as there has been no material change since the PEA. The higher NPV in the headline is caused by using a higher copper price ($2.75/lbs vs $2.50/lbs in the PEA) and a lower discount rate (7.5% vs 8% in the PEA).
As such, we are surprised by the market reaction, and would recommend to take money off the table right now. As Excelsior might take advantage of the current share price strength to raise more money (which would be a smart move), we’re fearing for some more pressure on the share price and think it’s a wise idea to cash in some chips.
source https://www.caesarsreport.com/blog/excelsior-mining-time-to-take-some-money-off-the-table/