Nevada Copper Corp T.NCU

Alternate Symbol(s): NEVDQ | T.NCU.WT.C

Metals & Mining Copper

Nevada Copper Corp is a Canada-based mining company. The Company is engaged in the development, operation, and exploration of its copper project (the Project) at its Pumpkin Hollow Property (the Property) in Western Nevada, United States of America. Its two fully permitted projects include the high-grade Underground Mine and processing facility, which is undergoing a restart of operations, and a large-scale open pit PFS stage project. The Property is located in northwestern Nevada and consists of approximately 24,300 acres of contiguous mineral rights including approximately 10,800 acres of owned private land and leased patented claims. Pumpkin Hollow is located approximately 8 miles southeast of the small town of Yerington, Nevada in Lyon County, one- and one-half hours drive southeast of Reno. The Company’s wholly owned subsidiary is Nevada Copper, Inc.

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Nevada Copper Corp > A news release summary for those new to NCU >>>

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Post by Notgnuon Nov 10, 2021 3:48am

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Post# 34108361

A news release summary for those new to NCU >>>

A Notgnu summary of key news release items:

2013, Sept 9: (copper~$3.30, NCU = ~$27.00 )

>>>Final permit for underground mine build, plus loan financing.

2013, Nov 14: (copper~$3.20, NCU = ~$17.00)

>>>Stand alone open pit feasibility study filed using $2.75 copper

2014, Dec 15: (copper~$2.75, NCU = ~$14.00)

>>>Land bill passed by Senate and House of Reps

2015, May 28: (copper~$2.45, NCU = ~$19.00)

>>>Feasibility results. Mine life increased by 5 years.

>>>A description of economic results with three base case scenarios for copper.

2015, June 1 - July 15: (copper~$2.25, NCU = ~$15.00)

>>>Three more positive drill result releases, including 400’ of 1% copper

2015, Aug 17: (copper~$2.25, NCU = ~$12.00)

>>>Full permit for open pit is obtained

2015, Aug 21: (copper~$2.25, NCU = ~$12.00)

>>>BLM conveys 10,000 acres of land to NCU.

2015, Sept 10 & Nov 3: (copper~$2.20 NCU = ~$10.00)

>>>Two more sets of positive drill results

2016, June 9: (copper~$2.15, NCU = ~$7.00)

>>>$4.8 million raised at $0.60.

>>>Total shares NCU shares outstanding = 88 million

2017, May 23: (copper~$2.55, = ~$6.00)

>>>Pala P.P. 10% premium to the market = $0.66 for 3.7 million shares.

>>>Total NCU shares outstanding = 93 million

2017, Dec 17 and 2018, Jan 12: (copper~$3.20, NCU = ~$7.00)

>>>Construction financing and debt restructuring

2018, Feb 26: (copper~$3.20, NCU = ~$7.00)

>>>Restart of underground mine construction after the raising of more funds.

2018, March 5: (copper~$3.10, NCU =~$7.00)

>>>$128 million from Pala for an additional 256 million shares. $0.50 each

2018, May 15: (copper~$3.05, NCU = ~$7.00)

>>>Open pit extension drill results including 42 metres of 2% copper

2018, July 17: (copper~$2.75, NCU = ~$6.00)

>>>Additional equity financing. $108 million, $0.60 per share;

>>>Total NCU shares outstanding = 660 million

2018, Sept 6: (copper~$2.60, NCU = ~$5.00)

>>>$70 million received in exchange for (underground only) Au & Ag metal stream.

2018, Sept 10: (copper~$2.65, NCU = ~$5.00)

>>>PEA received for the open pit using $3.20 long term copper.

2018, Nov 13: (copper~$2.75, NCU = ~$4.00)

>>>Announcement to update technical report to include new info and PEA

2019, Feb 22: (copper~$2.75, NCU = ~$4.50)

>>>Announcement of 5,700 additional acres staked for exploration, thereby expanding the Pumpkin Hollow property by 32%

2019, April 16: (copper~$2.90, NCU = ~$4.00)

>>>New open pit PFS study published with updated numbers ($3.20 long term copper price is used)

2019, May 16: (copper~$2.70), NCU = ~$4.00)

>>> $40 million combined private placement and public share sale $.040

2019, Dec 16: (copper~$2.80, NCU = ~$3.00)

>>> Copper production commenced and ramp up to full 5000 tpd expected by mid 2020.

>>> 65 m pounds p/ye projected from underground. Cost = $1.86 (all in sustaining cost)

2019, Dec 17: (copper~$2.80, NCU = ~$3.00)

>>> Pala announces buying shares in the public market at $0.29 per share

>>> Pala’s total of the financing =273 million shares, ~ 36% of shares outstanding.

>>> New float is roughly 758 million shares

2020, April 6: (copper~$2.25, NCU = ~$1.60)

>>> Covid necessitates a shutdown of the newly completed mill

>>> Underground work continues at a reduced pace

2020, July 31: (copper~$2.85, NCU = ~$1.35)

>>> Equity sale completed. 667 million shares including the over-allotment

>>> This raises $100 million to pay down debt and cover expenses.

>>> New share price is about $0.14 after backing out about $0.02 per warrant attached.

2020, Aug 24: (copper~$2.95, NCU = ~$1.30)

>>> Production is restarted

>>> Commissioning of hoist, vent shaft and underground crushing continues

2020, Oct 15: (copper~$3.05, NCU = ~$1.15)

>>> Mike Ciricillo is brought on board as CEO. Mike “...was previously the Head of Copper Industrial Operations for Glencore Plc, where he oversaw Glencore’s worldwide copper assets…”

2021, Jan 29: (copper~$3.55, NCU = ~$1.60)

>>> Equity financing; 230 million shares issued at $0.16 for proceeds of $38 million.

>>> Pala takes down an additional 80 million shares as a part of a debt to equity trade.

>>> New share total = 1.7 billion. Warrants will bring in about $100m

2021, March 18: (copper~$4.05, NCU = ~$1.80)

>>> Some 5% ore is encountered in ‘development’ area on route to the new stopes

>>> Expect “grade increases” in combining weeks as stopes are accessed

>>> Hoist is tested to run at 5,000 TPD matching the tested mill capacity

>>> Electrical upgrades mostly completed (due to change in first stope to mine)

2021, April 21: (copper ~ $4.25, NCU = ~$1.90)

>>> We are a few days away from the first stope to start extracting 2.2% copper

>>> Ventilation upgrades are progressing well

>>> Batch production is running very well at intermittent bursts of 4,700 tpd as development (and soon) new stope ore is being mined.

2021, May 17 (copper ~$4.70), NCU = ~$2.70)

>>> Mike announces we will be at about 3,000 tpd by the end of q2 (June 30)

>>> Progress slowed a little as cautious progress is made through water bearing dike

>>> Covid has slowed the delivery of the Large surface fans so 5,000 tpd mid q4

2021, July 12 (copper ~ $4.30, NCU = ~$2.10)

>>> Underground portion of ventilation is commissioned

>>> Pala extends additional loan financing

>>> The dike crossing work continues but grouting is still not complete

>>> The need for more development capital is announced due to higher than anticipated cost

2021, August 13 (copper ~$4.30, NCU = ~$1.65)

>>> Lateral development has increased and more headings are opened up on a lower level. The lower level also requires a dike crossing

>>> 3,000 tpd production is moved up to Q4 from Q3 and 5,000 tpd is moved to H1 2022 from Q4 2021

>>> Pala grants an additional $42 million in combined promissory note and loan credit.

>>> The company is in talks with it’s main lender KFW bank to extend debt into 2023 from 2021 and expects to be successful in obtaining the credit extension.

>>> Mike Brown becomes interim CEO to replace Mike C. (reasons are not disclosed)

2021, August 21 (copper~ $4.36, NCU = ~$0.85)

>>> The first water bearing dike crossing is completed (finally.)

>>> Surface vent fans are said to be on schedule with install and commissioning by end of 2021

>>> 3,000 tpd hoisting rates are argetted for the end of the year

>>> A short term extension is granted on the KFW loan to allow more time to negotiate a long term extension

>>> Pala adds more liquidity by way of an addition to the promissory note issued previously

2021, September 3 (copper ~ $4.32, NCU = ~$0.90)

>>> Share consolidation of 10:1 is announced

2021, September 21 (copper ~$4.22, NCU = ~$0.70)

>>> Some more key management positions are filled

>>> Share consolidation completed