Stay away!.....for now.Just read the report. Really a mixed bag for me. Not that it matters to me anymore as i'm not a s/h at this time, sold out my remaining shares about a month ago. With copper prices dropping back down, Nevada copper lost its last leg to stand on. Though they made some progress on certain parts of the operation, they are far behind on others. After analysing the report briefly, it seems to me that they are at least one solid year away from any decent profitable operation, for s/h that is. Imo, 2022 is still a BIG transistion year, from the looks of it, because of delays, engineering challenges, some mismanagment issues and some unfortunate circumstances beyond the company's control. As best as i can see, 2022 will still be a very costly year for the company across all levels, all aspects, across the board. And is don't see any light at the end of this tunnel until early 2023 at the earliest.
The immediate problems now, the company running out of money (very soon) to sustain operations and the dismal but real prospect of continued equity dilution at these very low levels. The company may have some options at their disposal, but they seem very limited. Not sure how much more they can borrow from their current creditors & major s/h, but i doubt both their German & Russian backers are willing to commit additional funds in this very senstive environment without solid guarantees. In addition, it seems their initial revenue stream for copper sales isn't helping either, as it seems the more they sell, the more money they lose from the looks of it.
Therefore, taking into consideration all of the above, i would advise investors to refrain from investing in Nevada Copper until things greatly improve. Esepcially on the financial front. I would expect at least one more major equity offering, probably around current prices AND at least another consolidation of share capital probably late this year or 2023. Barring a decent offer for the whole company from a suitor, i don't see any way in which a s/h would benefit from holding shares in the company at this time.
GLTA