RE:RE:M & A in CanadaArizonaBilly wrote: Excelsior's copper mine is in-situ, not open pit. Excelsior (MIN, EXMGF) is waiting for it's final permit from the EPA (underground injection control permit) which is expected within weeks if not days. The draft EPA UIC permit was issued in October 2017 and the public comment period has closed.
The $30 million you refer to was to advance Excelsior's Gunnison project and is not available for forays into Chile. In fact, they are going to need at least another $50 million more, possibly $70 million, for the development of the well field and the SXEW plant at the Johnson Camp.
While the Greenstone involvement in both companies is interesting, don't count on Excelsior merging with anyone for the foreseeable future.
As always, this is my personal opinion. Everyone is urged to do their own due diligence.
Let me correct you...In-situ is a fairly straightforward method of valuing miners. In essense it is simply the value of all mineral resources (measured + indicated + inferred) that mining company owns.
In-situ recovery (ISR) is just a method of recovering Cu using SX-EW plant that is already in place at MIN similar to what is there at CORO MINING's (COP) Ivan plant in Chile. As far as I know, Gunnison Mine is not an underground mine. Both mines are not yet in "name-plate" production.
In Excelsior's feasibility study, it states the following:
In-Situ Recovery (ISR) process injects a barren leach solution into the ore body using a series of injection wells. The acidified solution dissolves oxide copper minerals as it migrates through the joints and fractures within the mineralized bedrock. Recovery wells surrounding each injection well extract copper-bearing pregnant leach solution (PLS) and combine to form the feed solution for the SX-EW process.The SX-EW facility is designed to recover copper from PLS at a copper feed grade of 1.63 gram per liter (gpl) (1.52 gpl net copper grade) to produce cathode-quality copper with 99.99% purity. The same SX-EW process, and similar oxide types of deposit. MIN uses ISR method and COP uses leachable method to unlock the Cu.
In any merger deals, the combined companies will pool all their assets including cash. It's called leveraged. The consolidated company will then raise capital or borrow new funds. Greenstone controls both MIN and COP and there are street rumors that a pre-merger is in the works.