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Nevada Copper Corp NEVDQ

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.


GREY:NEVDQ - Post by User

Post by rockhound3on Nov 12, 2021 1:31pm
321 Views
Post# 34120567

HELP - ASSISTANCE NEEDED!

HELP - ASSISTANCE NEEDED!Yesterday I stated that one has to take things slowly with respect to THE FINANCIAL STATEMENTS!

Yesterday I commented on the strength of the Balance Sheet!

Today I am looking at what I would call the "Income statement ". Thus the first item noted is the name 
CONDENSED CONSOLIDATED INTERIM STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME(LOSS)

Now when I printed this document page #1 is the Balance Sheet and page #2 starts with the heading noted above with NO INCOME   Only EXPENSES ?and thus my first question =WHAT HAPPENED TO THE INCOME?

The 2nd question is how do we get INCOME   of  $28.102 million?

The biggest item is something called
"DERIVATIVE FAIR VALUE GAIN" of $ 27.258 million with reference to note 9 .

Now when we look at the line"Derivative fair value gain (loss)= one sees the #'s 
-27258, ( 5568), 26,598, (4763) 

When we go to note 9 the only #'s are $5459 , 405, and 5054

Now it might be my advancing age or that when I learned basic accounting it dealt primarily with hard facts ie cash etc = thus I am suspicious & confused with the NET INCOME & COMPREHENSIVE INCOME OF $ 28.102million!?

Hopefully a poster can easily explain what has happened?!?

Or possibly the 3 amigos in ZUG can give the same explanation to us as they gave to Vlad!

Rock

ps do they have generally accepted accounting provisions in Russia?


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