Welcome to our dedicated page for NEVADA COPPER news (Ticker: NEVDF), a resource for investors and traders seeking the latest updates and insights on NEVADA COPPER stock.
NEVADA COPPER CORP (NEVDF) is a mining company focused on the exploration and development of copper deposits in Nevada. With a primary focus on its underground mine, the company aims to complete commissioning and ramp-up activities. Recent challenges in securing funding have led to discussions with third parties for additional financing and potential change of control transactions. The company's largest shareholder, Pala Investments Limited, and other stakeholders have provided limited interim funding. However, without sufficient funding in the near term, the company may need to seek creditor protection.Nevada Copper (TSX: NCU, OTC: NEVDF) filed its audited financial statements and Annual Information Form for the year ended December 31, 2022. The company is focused on advancing construction at the Pumpkin Hollow project, aiming for a 5,000 tons per day milling capacity by year-end 2023. Key developments include vent shaft excavation and progress in underground mining. The mill restart is scheduled for late Q3 2023 with an initial rate of approximately 3,500 tons per day. Management notes that all operations are in line with geotechnical predictions, indicating a positive outlook for ramp-up activities in the upcoming year.
Nevada Copper (OTC: NEVDF) has made significant strides toward restarting its Pumpkin Hollow underground copper mine. The company has successfully completed key milestones including dike crossings to access critical mining zones. They are targeting a mill restart by Q3 2023 with plans to ramp up to full capacity by the end of the year. Important developments include a $12 million contract awarded to Dumas for critical construction projects and a successful definition drilling campaign confirming approximately 210,000 tons of stope ore. These updates signify a clear pathway to full-scale production and enhanced operational stability.
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