The Excelsior Mining (TSE:MIN, OTC:EXMGF) team rang the opening bell at the Toronto Stock Exchange Tuesday, celebrating the company’s move from the TSX Venture Exchange to Toronto’s “big board” on January 31 of this year.
The graduation to a senior exchange listing follows the release in early 2017 of a feasibility study on the company’s Gunnison Copper Project in Cochise County, Arizona.
The study showed a post-tax net present value of US$807 million, and post-tax internal rate of return of 40%.
Thanks to its geological setting, Gunnison would use an in-situ method to extract and process its copper resource, thereby minimizing the project’s environmental footprint. Initial and ongoing capital expenditures would be less than for a conventional copper production project where ore is removed, crushed and processed.
The Gunnison Copper Project is modeled to be in production for 24 years and would require initial construction capital expenditure totaling US$46.9 million. Production is scheduled to begin in early 2018.