Bullboard - Stock Discussion Forum Nevada Copper Corp NEVDQ

Metals & Mining Copper

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... see more

Add To Watchlist

GREY:NEVDQ - Post Discussion

Nevada Copper Corp > Financial statements have a lot of interesting reading.

View:

Post by rockhound3 on May 18, 2021 8:27am

Financial statements have a lot of interesting reading.

One issue which I am interested in was the serious amount of $$ paid out re the lawsuit against the contractors. The lawsuits were thrown out by the Courts and a mega $settlement was required.

I am interested in this as I suspect it shows the fact that The young men at PALA didn’t know what they were doing.

in Note 10 there is a figure of 450 which I suspect is missing some zeros?

This decision to fire the contractors and the CEO makes one wonder exactly what happened, and why did the courts dismiss the claims and why are mega $ being paid out to the former contractors?

iIn most organizations those that made such big mistakes would be gone! Also the fact that the share settlement was done at less than $6 per Share!

However PH is moving forward and this development should be a great success !

Rock

186

Comment

Comment by bogfit on May 18, 2021 8:45am

"This decision to fire the contractors and the CEO makes one wonder exactly what happened, and why did the courts dismiss the claims and why are mega $ being paid out to the former contractors?" Indeed. I'd like to know what happpened too. The bottom line is the CEO has been replaced and the course forward seems clear. b.

106

Comment

Comment by patchh on May 18, 2021 9:08am

redpath placed a civil bond on the procedings.. the matter was settled in the bak room and went before a judge for final approval... the courts do not routinely toss out CIvil Cases between contractors.. the posted bonds are to pay the courts for their time in processing the issue...

107

Comment

Comment by patchh on May 18, 2021 9:01am

now I propably hav this wrong.. but here oges cementex go into a tizzy - apparently w redpath and a third party softwatre vendor.. redpath posted a bond and sued NCI and Cementex... CtX was asking ~ 18 million.. not clear what redpath was bukin for ! NCI turned around sued all three for 88 million.. CtX went thru arbitration - rec around 2.5M$ the software company did ...more

Comment