Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Excelsior Mining Corp T.MIN

Alternate Symbol(s):  EXMGF

Excelsior Mining Corp. is a Canada-based mineral exploration and production company. The Company owns and operates the Gunnison Copper Project in Cochise County, Arizona. The Gunnison Copper Project is an in-situ recovery copper extraction project that is permitted to produce approximately 125 million pounds per year of copper cathode production. The Company also owns the past producing Johnson Camp Mine and a portfolio of exploration projects, including the Peabody Sill and the Strong and Harris deposits. Its 100% owned Johnson Camp Mine is located over one mile from the wellfield. The Strong and Harris copper-zinc-silver deposit is located about 1.3 miles north of its Johnson Camp SX-EW facility. The Company is also evaluating the oxide and sulfide potential of all of its mining assets.


TSX:MIN - Post by User

Bullboard Posts
Post by JimmyHaulinHogson Feb 27, 2017 11:42am
170 Views
Post# 25898812

Good Investment News

Good Investment News

It looks like the smart people at Altius (T.ALS), who own a 1% GRR in the Gunnison project, just came into a lot of cash:

"Altius Minerals Corporation (“Altius”) is pleased to announce that it has entered into a letter agreement pursuant to which Fairfax Financial Holdings Limited, through certain of its subsidiaries (collectively, “Fairfax), will make an up to $100 million investment in Altius in exchange for the issuance by Altius of preferred securities and warrants. "

"Fairfax has agreed to subscribe, on a private placement basis, for 5% preferred securities in an aggregate amount of $100 million, issuable in tranches of not less than $25 million. Altius intends to close an initial subscription of $25 million, and has sole discretion with respect to additional subscriptions by Fairfax for the remaining $75 million in minimum tranche sizes of $25 million by no later than December 31, 2017."

"The proceeds raised from the Fairfax financing will be used by Altius for investing in opportunities it identifies within the mining and minerals sector and for general corporate purposes."
 

https://altiusminerals.com/uploads/PR1703-Fairfax.pdf

And with that deal, Fairfax now indirectly gets a piece of the Excelsior action. I take that as a show of confidence in this project by a major investment firm.

So, any speculation on how T.ALS might want to spend all that cash in the coming months? I can think of one idea....

 

Bullboard Posts

USER FEEDBACK SURVEY ×

Be the voice that helps shape the content on site!

At Stockhouse, we’re committed to delivering content that matters to you. Your insights are key in shaping our strategy. Take a few minutes to share your feedback and help influence what you see on our site!

The Market Online in partnership with Stockhouse