Nevada Copper Corp NEVDQ

Strategic sale plan

[rickwayne1982]

Why would Pala opt for chapter 11 instead of accepting a change of control proposal? Also, the Stalking Horse Bid is to set the floor/base price to encourage competitive bidding according to Moelis. It’s all planned out and strategically setup for a fair and competitive bidding process to achieve the best price for all assets. How does Pala have a bidding war when prepetition, they only have 2 exclusive parties that they are negotiating with? You think Pala would file for chapter 11 if they wouldn't get a higher price? Why would Pala pay Moelis 2% commission on the sale if 128 million USD could have been easily achieved back in October 2022 when Nevada Copper received a proposal that would have given them enough cash to reach cash flow positive and yield a change of control? That amount would have been worth much more than 128 million USD! Why would Pala spend so much time negotiating for a menial 128 million USD out of court sale?  Pala is the biggest bagholder with over half a billion invested in common shares only...plus over 60 million in unsecured debt and 14 years worth of opportunity cost.

[cnynman]

Remember that this is an 'asset sale' and not a 'stock sale'.   If Pala, or anyone else, now comes along and bids more than the $128 (as will most surely happen), the eventual winning bidder, even if it's in the range of $150M-$200M, will own all the assets debt free. All the common shares of NCU are then left behind with no intrinsic value. A change of control

[rickwayne1982]

2 questions though... If Pala could afford to make a bid higher than 128 million USD, why were they looking for new sources of financing in the 4th quarter of 2023? Secondly, don't you think other, deeper pocketed parties would outbid Pala? Especially those with assets just around the corner, for example: Rio Tinto and Nevada Gold Mines…The land package alone, less 500 million debt, if using

[cnynman]

I definitely don't have all the answers. I'm speculating here along with everyone else, but I'm fascinated by the machinations.  As for those shenanigans in late 2023, can we be sure of just what Paula was doing?  If their ultimate goal was to own the assests for pennys on the dollar, then they wouldn't have really wanted a 'partner' to supply money to keep going

[patchh]

the trustee would never allow for pala to bid...  thats for startes on the initial EPRIOC 60M$ balance sheet - draw down on the second line form the bott - there is a charge for the TSX around 2k$ Next - TSX is the TMX and all of the big banks hold stoks in the untiking - these did not revert to the CBOT . w.o doin ght math - probaby in the hood of 100M Storks..  they own that 0.o3