Nevada Copper Corp NEVDQ

In Default

[MarkAble]

Today - Nevada Copper said it has not made payments due to certain creditors and vendors while it is in default of its obligations under certain financing agreements and other contractual arrangements.

I've seen this before with other mining companies and the outcome wasn't good for investors.

[bogfit]

Mark, It's not good for "certain creditors and vendors"  or anybody.  A dead-beat company stiffing contractors?  That's the risk of an undercapitalized start-up.   Pala now has a choice to sell for what they can get, or put the mine on C&M.  NCI is turning blue in the ER and the staff is arguing about who, if anyone, gives it the oxygen to

[MarkAble]

Bogfit, that is probably the most downbeat synopsis I've heard from you regarding NCU. If Pala does indeed sell how do you see things panning out for retail investors? As we know the resource is there, the Democrats were thankfully able to pass their much needed climate package and copper prices are forecast to rise in the coming years so there are positive cataysts for some copper companies

[bogfit]

"where does when go from here" Who knows?  I don't think I've ever owned a stock that had so many serious questions about its probable future, so this is all outside my experience.  There is a reason why I invested in the reserves and not the company.   As a general rule, I don't post criticism of a stock I don't own -it's my Thumper's Dad rule

[metalhead666]

You cannot and did not buy the reserves...you bought the stock It can go down 100% still and most likely will The number 1 rule when investing in mining.....There is NEVER just one cockroach.  When things start breaking you have to run. 

[bogfit]

"You cannot and did not buy the reserves...you bought the stock" No, you re incorrect a usual.  I did not buy the stock; I took a proxy on the reserves by buying RE in the valley.  I realize you are too ignorant to know this but buying RE in mining camps is a time-honored and often very profitable, low risk investment strategy in the West. I guess you don't know

[metalhead666]

How many drill holes on your house lot?

[bogfit]

How many in your head?    b.

[dheadley]

You guys better cool it. slewfoot will be along soon to tell you to stop wasting valuable board space.

[bogfit]

He started it, Ma.    b.

[dheadley]

That's not the point. You're both big boys and you should know better. We're all under a lot of stress here and it doesn't help if people start squabbling.

[metalhead666]

You must feel pretty stupid eh?

[metalhead666]

Quite a few but they're all very high grade

[MarkAble]

Good one Bog!

[Returns2021]

This loser has been on this board for 10+ years And yet claims he doesn't own the stock, LMFOA.  Oh yes he does and he bought at well over $10.....he has lost everything