Post by
Richiechile on Aug 11, 2021 2:37pm
Cu Production
Excelsior 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.
Comment by
metalhead666 on Aug 12, 2021 11:47am
You're dreaming. The CO2 issue will not and cannot be resolved. It's fundamental to the entire geologic structure. This will be a complete failue.