GREY:NEVDQ - Post by User
Post by
netprofiteer2on Sep 02, 2021 10:11am
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Post# 33800244
Update from RBC. TP $.25 down from $.50
Update from RBC. TP $.25 down from $.50 Nevada Copper Corp
Underground ramp up remains a slow grind
Our view: Progress on the underground ramp up remains behind schedule as a number of unforeseen issues have delayed the construction of key infrastructure. Mining should now be able to ramp up in H2/21 and Pala continues to provide liquidity support, although execution risks remain. We continue to see longer term value at Pumpkin Hollow, particularly in the open pit project.
Key points:
Key infrastructure delayed: A water bearing dike has created challenging ground conditions in developing underground ramps to access the deposit as it required additional ground support which added significant time to the schedule. Development through this area has been completed on one level with a second level expected to be completed in the coming weeks which should allow mining activity to ramp up in the coming months.
Management change creates uncertainty: Mike Brown is an experienced mining executive and is acting as interim CEO; however, until a new CEO is announced and some additional technical bench strength is added this leaves uncertainty in the near term."