Excelsior announced that the decision has been made by the board of director’s to proceed with construction at the Gunnison copper project.
Excelsior Mining (TSX:MIN) has announced that the company has closed a US$75 million project financing package with Triple Flag Mining Financing consisting of US$65 million in a copper metal stream and US$10 million in a private placement.
President and CEO of Excelsior, Stephen Twyerould said:
“With this comprehensive financing package, Excelsior will initiate construction activities at the Gunnison copper project before year-end. With the two crucial milestones of permitting and construction financing now behind us, we look forward to unlocking the remarkable economics of this project as we advance towards first copper production from the wellfield in 2019.”
Excelsior also announced that the decision has been made by the board of director’s to proceed with construction at the Gunnison copper project. This decision follows the close of the US$75 million Financing.