Steve Twyerould's Year End Progress Report
Received today as a Gunnison project email update.
"About 10 years ago I completed my review of the Gunnison Copper Project. I had just spent more than a year re-logging the original core and evaluating chemistry, hydrology and metallurgy related to the in-situ mining process. After this, I was convinced of the sustainability and economic benefits of in-situ extraction of the Gunnison Project and hoped we could turn it into a producing mine. Fast forward to today, construction has commenced, and Excelsior finds itself poised to become the next new copper producer in the United States.
2018 has been one of our most successful years. We completed the permitting process and secured a $75 million project-financing package -- accomplished in one of the most challenging junior mining markets in recent memory.
Our success can be attributed to the management team and the outstanding efforts of our workforce. We pride ourselves on our dedication to technical excellence, persistence and willingness to engage with the communities and stakeholders around us, ultimately making for a more-rapid-than-normal pathway through permitting.
The same work ethics and dedication went into completing our comprehensive project financing package. This was completed on excellent terms, especially within the context of poor market conditions for mining finance, during the past 12 months or so. That Excelsior was able to successfully deliver these two milestones is evidence of the quality of our Project and the ability of our management team to execute.
As the year draws to a close, drill rigs are already on-site constructing the production wellfield. I wish to express my gratitude to the entire Excelsior team, community members, stakeholders, investors and interested parties who have engaged with us from our early beginnings to the point of construction. We look forward to continuing our good work and engagement throughout the coming year as we bring on-line one of the most environmentally friendly and cost-effective copper projects in North America".
Warm regards,
Stephen Twyerould
President & CEO