Nevada Copper Corp T.NCU

Rational; I have followed this stock since 2012;

[rockhound3]

The property has significant copper and PM's. Unfortunately we dont know what is in the large land holdings= hopefully a significant amount of material= billions of pounds.

Clearly there have been many problems = some technical, however more "People issues" than we can count. It is important to go back and review the issues since it may/likely will change your views.

Yes Randy is a key person who has staked his reputation on solving the many  technical issues ; 
- water, water, water,
- mine shaft in the wrong location
- contract miners paid on time spent  and not accomplishments
- including strange revelations - like head frame not owned!!!
- the previous CFO working from Toronto
-etc
-etc
And while they now have Randy on the Board = does it  matter?

 The first criteria of having copper of sufficient grade and in an accessible location is likley met.

However it is the other two criteria of $$ and people are still up in the air!

The amount of window dressing is considerable; 
- two very experienced independant directors - but why isnt one the Board Chair?
- the use of the best lawyers and accountants = but what does this accomplish ?
- the Board essentially controlled by yes men & women at PALA( with very limited experience)

There have been so many issues and big disappointments ! WOW Thus the question "is all the trust Gone?"

The unknowns include;
- Has there been timely and honest information from the company?

- why does there not appear to be a 2nd strategy= consider a sale?

- they should have a data room and open up the information to all suitors = why dont they??

On the $$ side = it certainly appears that they have tried all sources and have run out those who 
will provide $$$ = Can't blame them 

As noted earlier a detailed anlysis of the pieces is required  as this should help arrive at a value of the property  which will only be realized if there is confidence in the operator!

One issue is to dig into is the number and amount of the various  royalties  that apply to the mined results ? I think we will be blown away as to how much is already committed to!

there is the issue of Ukraine war etc. Will Vlad fall out a window or join Wagner group OR?

 I did buy some stock last yr in the low 20's  = great = but!!

Last the consolidation of stock really hides the reality the stock price has dropped approximately 95% since PALA took over 70 cents= 4 cents

We must wonder if Vlad is wishing he had invested through debt rather than shares??

Finally I do hope that PH gets mined  and that  shareholders of NCU get some of their $ back!!

Rock

PS what is really needed is a book such as was written 50 years on Windfall & Texas Gulf!