Excelsior Mining (MIN.TO) has received the Aquifer Protection Permit from ADEQ, the Arizona Department of Environmental Quality. The importance of this milestone should not be underestimated as it was one of the two remaining permits. This means Excelsior Mining now just needs a final federal permit, the only permit still required to produce copper at Gunnison (and Johnson Camp).
Technically, the Grant Letter issued by ADEQ is still appealable for a period of 30 days but we doubt any appeals will pop up as these appeals can only be filed under very specific circumstances. All eyes will now be on the EPA which has to issue the Underground Injection Control permit. The draft permit could be received this month and be effective before the end of this year, which would allow Excelsior to immediately decide on the financing package for the mine to make sure it meets its target to be in commercial production in 2018.