Nevada Copper Corp NEVDQ

RE:RE:RE:RE:This isn't coming back

[cnynman]

Kent, your reasonable comment deserves a reasonable response, so thank you.

In full disclosure, I've known several professionals who worked at PH over the past several years. I knew, from one of them, of the dike failures and UG water issues before those issues appeared on this board or were discussed publicly by NCU.  

Two years earlier, I had heard from another professional that the OP was fraught with problems, so I was not surprised to learn that there were no plans to 'resurrect' the OP.

Right now, I'm watching to see if the entire workforce is laid off as planned in August.  Generally, 'care and maintenance' would include keeping those dewatering pumps running. But I see 4 'UG pump mechanics' on the lay off list.  If those pumps are turned off or allowed to fail, the UG will become even more worthless than on the day bankruptcy was declared, given the cost to rehab.

Any future development of the open pits at PH is speculation at this point, and will likely require a much higher Cu price than $5-6 and perhaps even some improved technology. In any case, the bankruptcy firesale bids won't place much value on that 'upside potential'.  

I expect the bidders to be the 'Pala' and 'Waterton' style investors who have no intention of opening and operating the mine short term, but rather see an opportunity to buy a property for long term future investment with pennies on the dollar.

I'll say again: I feel badly for the genuine investors who were mislead into thinking this was something more than a long shot from the beginning.  But it is difficult to imagine a realistic scenario where shareholders are left with any value from this.  I hope I'm wrong.