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Gunnison Copper Corp T.GCU

Alternate Symbol(s):  EXMGF

Gunnison Copper Corp., formerly Excelsior Mining Corp., is a Canada-based mineral exploration and development company. The Company’s projects include Gunnison Copper Project, the Johnson Camp Mine, and a portfolio of exploration projects, including the Peabody Sill and the Strong and Harris deposits, in Cochise County, Arizona. The Gunnison Copper Project covers approximately 9,560 acres of land, and it is located in Arizona, United States. The Johnson Camp Mine operation includes two open pits, a fully functioning SX-EW plant capable of producing approximately 25 million pounds of cathode copper per year. The Strong and Harris copper-zinc-silver deposit is located around 1.3 miles (2.4 kilometers) north of Excelsior’s Johnson Camp SX-EW facility.


TSX:GCU - Post by User

Post by Richiechileon Aug 11, 2021 2:37pm
427 Views
Post# 33685891

Cu Production

Cu ProductionExcelsior quarterly report to 30 June 2021 released to Sedar.  Copper sales for 1H were 360,000lbs with 80,000lbs in inventory.  Given first cathode production was only on 21 December 2020, this implies production closer to 440,000lbs for 1H 2021.    Reported production was 185,000lbs for Q1 which implies production of 255,000lbs for Q2.    Net cash used in operating activities in Q2 was $651k vs Q1 of $2,520k.   Good to see reduced cash outflow as both sales and copper price increased in Q2.   Excelsior moving in the right direction.   The calcite on the fracture surfaces is finite, therefore the CO2 issue will be finite.   Would be good to hear of acid injection (tons) in the raffinate increasing over time, increasing PLS flowrates, copper grades and CO2 breakthrough.    Excelsior reported $27.8m of cash on the balance sheet at 30 June so well capitalised and enough time to demonstrate commercial operations.           
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