Nevada Copper Corp T.NCU

press release

[nofluff]

So ncu has spent 800 million to discover, and develop the properties and build a mill and underground drifts to to major zones.

They say they r a heartbeat away from the rich sc. If financiers were to foreclose, they would use the same people to finish the development. So, they need 30 million more to get to sc and pay contractors bills. It would be very preditory to try to foreclose at this time. 

However, raising 30 million at .30 would add 100 million shares. So 20% dilution.
I will take that.

My q. is. Why were we spending money on the op that we never had? 

nf

[RoyKerr]

By spending on the OP, do you mean the drilling? imo, the drilling program was for an updated PFS, in order to make sure they had all P&P identified in case of a sale. IMO, Pala had decided to sell if the last PP was not enough to get them cf+. If they issued 100M shares, pala would see their %tage drop from 38 to just under 30%.Last august they were at 50%. I dont think pala has the money

[patchh]

RK I think they were ou there drilling to define that dyke transverse...  for second one - that 25K is noting.  there is over 200K for the proven and probale on a NCI Map of the area.. -->  little history channeling here::: NCI installed a 2200foot Drain Well bak in 2019..  its a ten inch casing - pressurized and lined..  its permitted for the max flow of the 10 inch

[RoyKerr]

My speculation is based on the company stating their reasons for drilling. But you are a heck of a lot closer than I am. Predictions on how this plays out? 

[patchh]

RK !  some of the mine news - jibberish is illogical...  they already hav a PFS.. a PFS can contain anything U wnat to place in the report.. payla holding that 8.5M$ souds lie they are tapped into the surface aquifer...  i think they were looking for below geological... they had several months to line up a 25K Drill company..  they optedto buy a drill rigg..  again to

[patchh]

furr ball !   if NCI was out there drilling to define that dyke and its an underground lake - they will hav mega problems w the limits on their drain well discharge.. they are not telling..  and KiWi is not going to sit at the desk w SSbank (the ones who are still alive) - spin thier pen N hand - write script on a new dilution.. and since U are a persistent ragg..  lets doo a

[TomsStockHut]

Hi NF, agreed, regarding the 20% dilution. However, this setup is obviously not able to handle this last mile. And they will not be able to unlock the goodwill we had paid for (the OP ) within a reasonable timespan. Fact: the dyke isn't done, so the UG = sunk costs. In my view they need 2 sell to a major or arrange a JV via KfW with industry partners. I find it critical, that there is no

[patchh]

The Company’s creditors may also seek to commence enforcement action, including realizing on their security over the Company’s assets. unusual for nevada - or a first time i hav heard of a mine heading into a banko... the banko will only come in and remove the hoist - vents - mills and sell for creditor... a sale is coming soon...  not going 2B pretty..  the kitty whampus was Solway -