Nevada Copper Corp NEVDQ

Who thinks someone friendly to >>>

[Notgnu]

Pala is selling to keep the five day rolling average low to set the warrant strike price?

Buy up against them I say... they will break. :))

N.

[patchh]

WHERE DO u GET PALA

[Notgnu]

Where do you not get Pala?  Fifteen million common share warrants shall be issued to Pala, exercisable until the maturity of the Amended Credit Facility, at an exercise price equal to the lower of a 25% premium to the 5-day volume weighted average price of the shares of the Company immediately prior to the closing of the Amended Credit Facility, or a 25% premium to the 5-day volume

[patchh]

Should the company complete one or more equity financings in the future, Pala will be entitled to equitize and/or convert up to $35-million (U.S.) of principal loan amounts outstanding under the amended credit facility into new common shares of the company on the same terms of any such financing.

[Notgnu]

That portion stands separate from the warrant issue. It opperates as a 'convertable debenture"... a loan that can be converted to equity under certin conditions precedent. N

[TomsStockHut]

notgnu, ...what is that "certain conditions", if not a deal to finance the OP? regards, Tom

[westcoast1000]

Thanks to Tomstock and others for good comments here. I ignore the Fish.

[Notgnu]

If I understand your question, the "certain condition" is that NCU must add $40 million to the balance sheet either by having the TSX grant approvl of the new Pala balance sheet loan deal or, failing that approval they will need to do a financing such that KFW will grant it's portion... the loan extension and payment holiday. N

[TomsStockHut]

don't know weather it is linked to the extension and payment holiday, but yes basically, KfW want pala as the equity partner to finance the 30% of the OP. 70% by KfW, thats my hypothesis  Tom

[Notgnu]

Ah... gotcha. Definately a possibility. Some of the smoke should clear once the TSX (almost certainly) grants approval of the deal. N

[patchh]

smoke should clear another Njoy RIde Looming.. IBRK added 460,00  NCI SHorts for sale around spot time of 1.09 tdy... good venue to snatchNgrab another 5% f the storks..   may start to run/around like LAC...

[westcoast1000]

Tom, That makes sense to me also. But I would guess Pala does not have the cash. So that is why I have been hoping for a large cap mining company to buy a third of the OP. Then I would hope that KfW continues to fulfill their mandate for German industry and fund this big safe copper mine.

[TomsStockHut]

westcoast, well, its a question of how KfW evaluates the ncu  equity value within the pala balance today. if they follow notgnus calculation, pala is good for a german injection. so who needs a third party and more trouble? regards, tom

[westcoast1000]

Tom, Good point. 

[Fishbillion]

This post has been removed in accordance with Community Policy

[Notgnu]

Read before flapping about flounder... I said someone "friendly" to Pala. N.