Nevada Copper Corp T.NCU.WT.C

Change of Control to a Sale

[rickwayne1982]

It appears the intention was to initially have a change of control but now this turned into a sale... Where was Moelis (law firm) all these months? After contacting Tracey, she confirmed that no Pala nominee sits at the board (all 3 directors have left, starting with Kate Southwell in early 2023 and now Stephen and Evgenij...) Mercuria (2^nd largest investor), their 1 and only nominee has also resigned. However, all independent directors have remained... This is very telling about what's to come folks...

Note that without a CEO, Nevada Copper was in breach of a TSX listing requirement. They have rectified this by appointing an interim CEO.

[mckayk3]

Where did you get info Moelis is involved?  Also they are not a law firm btw. Court will appraise the value of NCU before we get into sale territory.

[KentWilkens]

The chapter 11 was structured from the beginning as a sale. Read the report, all laid out in the milestones. Kw

[RoyKerr]

It is structured for either. The goal is realize maximimum potential of theoretical value. In retrospect, It looks like Pala rebooted the mine when wood plc was hired. Post implimentation and capex of 100M+, the mine was deemed still uneconomic, or at least uneconomic without risking a few hundred million more in cap by M and P. Maybe this new tech that could bring major supply online via low

[rickwayne1982]

Perhaps in a Chapter 7 we would likely see your estimated amount of 150-175 million USD for shareholders. The Chapter 11 was to buy time to negotiate a sale and restructure management / directors. Again, the first half of 2024 appeared to be negotiations for a COC (change of control) and that didn't work out. Now a sale is imminent. The firm facilitating the sale (Moelis) and Elliott