Nevada Copper Corp NEVDQ

RE:What went wong?

[Dragonflyinvest]

"What went wrong -"

First, Pala is NOT a mining company and in the beginning IMO they never intended to build the mine themselves.  The plan was (and it was done properly IMO) to permit the mine and provide a bankable feasibility study for a major with deep pockets to come in and finish development.

Then bitterly revengeful Republicans in the House held up the Land Swap Bill, just to spite Harry Reid Nevada’s senator, until the commodity market cratered.  At $5 copper the mine was worthy, at $1.50 no one was interested in expanding operations nor securing reserves.

So, what to do?  Close up shop and eat the costs already incurred, or how difficult would it be to just build a little mine for now and sell it later?  Actually, it shouldn’t be that difficult however the company always had a limited budget that emptied out with each new set-back requiring more and more capital that the major stockholders were reluctant to provide.

In the end a lot of money was thrown down that hole in the Nevada desert with nothing to show for it.