RE:RE:The reason this bogfit uneducated individual posts "I looked at NCU after this post, and I must say that is quite a disaster there. WTF happened? It was up near $5 and then $3 and then NADA."
Right! It wasn't just one thing that led that company to ruin. First of all, IMO major shareholder Pala never intended to build the mine. I suspect, and that's all I have, is the major shareholder hoped to sell the project to a major after the permits were in place. When they began to secure permits copper was over $4.50 and there was huge speculative pressure in the copper sector. To secure the package they needed to have a land swap bill pass Congress.
Long story short, Congressional Republicans resentful of Senate Leader Harry Reid of Nevada sent the bill of the land swap to a sub-committee of the Natural resource committee of the House and there it sat for a year even though that committee had hearings on mining jobs and refused to put Nevada Copper’s bill on the agenda.
The commodity bust began and no offers tendered. So Nevada Copper’s board was given the task of falling back and building a smaller operation that they thought they could afford and IMO they cut too many corners that resulted in increased costs and development time. In the last ten years I think just about everything that could go wrong, did.
So that’s what happened, and perhaps there is a moral to the story. Don’t invest in one-trick pony shows PERIOD.
b.