THE CRITICAL INVESTOR

Dear subscriber,

It was a long wait, a few months longer than initially expected at the end of last year, but Excelsior finally pulled it off: they received the hard to obtain Aquifer Protection Permit (APP), issued by the Arizona Department of Environmental Quality (ADEQ), the first of its kind for a full scale, greenfield ISR copper project in Northern America. I consider this a major development as the APP together with the hopefully soon to be issued Underground Injection Control (UIC) permit by the federal Environmental Protection Agency (EPA) will be a real gamechanger in my view, as permitting such a project in a demanding state like Arizona isn't easy at all. Therefore, and because of the much higher Gunnison NPV compared to market cap, I expect a serious re-rating at the end of this year if all goes well. Read more about it here:

Excelsior Mining Impresses Markets By Receiving APP Permit For Gunnison: Permitting Of First Greenfield Copper ISR Project Within Reach Now

Regards,

The Critical Investor