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Excelsior Mining Completes Copper Cathode Offtake Agreement
Phoenix, Arizona--(Newsfile Corp. - March 11, 2020) - Excelsior Mining Corp. (TSX: MIN) (FSE:...
About this update from Gunnison Copper Corp.
[{"type":"text","content":"Excelsior Mining Completes Copper Cathode Offtake AgreementPhoenix, Arizona--(Newsfile Corp. - March 11, 2020) - Excelsior Mining Corp. (TSX: MIN) (FSE: 3XS) (OTCQX: EXMGF) (\"Excelsior\" or the \"Company\") is pleased to announce that the Company has entered into a purchase and sale agreement (the \"Offtake Agreement\") with Trafigura Trading LLC (\"Trafigura\") for 100% of copper cathode production during 2020 from the Gunnison Copper Project in Southern Arizona. The Offtake Agreement has been concluded on commercially competitive terms. The Company is forecasting first copper production in Q2 of this year.Trafigura Group Pte. Ltd. is a market leader in the global commodities industry and one of the largest and most active trading houses in the United States. Trafigura's core business is the physical trading of oil and petroleum products and metals and minerals, and their transportation across the globe. The company's assets and investments complement and enhance these activities. Headquartered in Singapore, Trafigura's 8,000 employees operate from 80 offices across 41 countries. About Excelsior MiningExcelsior \"The Copper Solution Company\" is a mineral exploration and production company that owns the Gunnison Copper Project in Cochise County, Arizona. The project is a low cost, environmentally friendly in-situ recovery copper extraction project that is permitted to 125 million pounds per year of copper cathode production. The Feasibility Study projected an after-tax NPV of US$ 807 million and an IRR of 40% using a US$ 2.75 per pound copper price and a 7.5% discount rate. Excelsior's technical work on the Gunnison Copper Project is supervised by Stephen Twyerould, Fellow of AUSIMM, President & CEO of Excelsior and a Qualified Person as defined by National Instrument 43-101. Mr. Twyerould has reviewed and approved the technical information contained in this news release.Additional information about the Gunnison Copper Project can be found in the technical report filed on SEDAR at www.sedar.com entitled: \"Gunnison Copper Project, NI 43-101 Technical Report, Feasibility Study\" dated effective December 17, 2016. For more information on Excelsior, please visit our website at www.excelsiormining.com. For further information regarding this press release, please contact:Excelsior Mining Corp.Concord Place, Suite 300, 2999 Nort...