THE CRITICAL INVESTOR

Dear subscriber,

The management of Excelsior Mining keeps delivering on their promises, albeit late at times. However, this UIC permit is such a difficult one to approve that I'm more than willing to accept the long time frame. As the announcement of the company caused a liquidity event, and the after-tax NPV7.5 increased even more since the FS because of the lowered US corporate tax and improved currency exchange rates, I view this as an excellent buying opportunity. As capex is relatively pretty low, funding could happen very soon after the permit is finalized, read more about it here:

Excelsior Mining Receives Long Awaited UIC Permit; Quick Capex Funding Around The Corner

Regards,

The Critical Investor