Nevada Copper Corp NEVDQ

Nevada Copper – Restructuring taking

[hainholz]

 

Nevada Copper – Restructuring taking effect In addition to Glencore, raw material producers and exploration companies are of course also benefiting from the sometimes skyrocketing prices. The underlying value of the red metal copper has more than doubled since the beginning of the corona pandemic. The largest players such as Freeport McMoran or Rio Tinto were also able to multiply in this context. Nevada Copper, a second tier producer, has a special situation and an opportunity to enter at a moderate level despite the copper price explosion. Historically, Nevada Copper has maintained the 60 sq km Pumpkin Hollow project since 2007, and has experienced delays and changes in senior management at the company. Since September of last year, however, a new era has been ushered in with the new CEO Randy Buffington. The fact that large institutional addresses continue to believe in the high-grade project is shown by the debt restructuring and a subsequent capital increase, in which both Solway and Mercuria each secured 10.4% of the company with a contribution of USD 30.0 million. The credit line was stretched and expanded with KFW, Pala Investment secured additional financing and remains on board as the largest shareholder with 38%. Operationally, Nevada Copper was able to report an optimization of its work processes. In January, for example, 50% higher development rates were achieved than in November 2021 and even 100% more than in August last year. With a market capitalization of EUR 223.54 million, Nevada Copper is the turnaround story from the second row.