Nevada Copper Corp NEVDQ

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

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Comment by CuJunioron May 09, 2016 8:54pm

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Post# 24856175

RE:Freeport to sell prized Tenke copper mine for $2.65Billion

Per an article on Mining.com, Tenke produced 467 million lbs of copper at a net cash cost of $1.21 in 2015.

CMOC paid $2.65 billion, their 56% share of production is 261 million lbs. So CMOC paid over $10 for each lb of production/year (reduce that some for the cobalt assets).

I think FCX did ok in this deal. At the current price of copper, after adding costs of $1 per lb for depreciation and interest expense, Tenke's cost per lb is $2.21 : the mine is not profitable at today's copper prices.

I think CMOC should look into buying NCU.

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