NEVADA COPPER CORP - NEVDF STOCK NEWS

Nevada Copper has updated on its Pumpkin Hollow underground copper mine operations and liquidity issues, revealing challenges due to a weak rock structure in the main ramp that limits access to planned stoping zones. The company is prioritizing development in the East North mining zone, which has better geotechnical conditions. However, liquidity constraints may hinder further work. Negotiations for additional funding are ongoing with creditors and partners, but the company faces default on certain obligations and may need to pursue creditor protection if funding is not secured.

Nevada Copper, a copper producer based in Nevada, announced the results from its 2022 Annual General Meeting, held on June 23, 2022. Shareholders representing approximately 50.39% of common shares voted in favor of all agenda items. Seven directors were elected for the upcoming year, with Tom Albanese receiving 99.47% approval. Additionally, PricewaterhouseCoopers LLP was appointed as the Company’s auditor. Nevada Copper operates the Pumpkin Hollow project, which includes both underground and open pit mining operations.

Nevada Copper (OTC: NEVDF) provided an operational update concerning its Pumpkin Hollow underground copper mine. Operational challenges in May led to delays in accessing the East South stopes, resulting in reduced concentrate production for Q2 2022. Management anticipates stope ore production delays until August but is making progress in accessing the higher-grade East North mining zone. To address liquidity, the company secured a US$20 million promissory note from its largest shareholder, Pala Investments, while discussions for additional financing are ongoing.

Nevada Copper (OTC: NEVDF) announced its Q1 2022 financial results, highlighting a significant ramp-up in underground mining operations. Hoisting increased by 66% to approximately 97,518 tons, and processing improved by 76% to 96,414 tons. The underground mine aims to achieve hoisting rates of 3,000 tons per day in Q2, increasing to 4,000-4,500 tons by Q3. Key developments include the commencement of a 25,000-foot drill program and ongoing updates to the prefeasibility study for the Open Pit Project. Management changes were also noted, with new hires in crucial roles.

Nevada Copper Corp. (OTC: NEVDF) announced significant operational progress at its Pumpkin Hollow Project. In March 2022, the Company achieved record copper production of 1,300 dmt and successfully increased hoisting rates to 3,000 tpd ahead of schedule. Q1 2022 showed a 32% quarter-on-quarter increase in development rates. A drilling program for the open pit project is set to commence, aimed at expanding mineralization. The Company plans to complete a prefeasibility study in Q3 2022, reflecting current high copper prices.

Nevada Copper Corp. (OTC: NEVDF) has filed its audited financial statements, along with management analysis and the Annual Information Form for the year ending December 31, 2021. These documents are accessible on the Company’s website and SEDAR profile. Nevada Copper operates the Pumpkin Hollow copper project in Nevada, which boasts significant reserves of copper, gold, and silver. Currently, it has a high-grade underground mine in production, alongside a large-scale open pit project progressing towards feasibility.

Nevada Copper Corp. announced the overwhelming approval of its Warrant Exercise Resolution during a Special Meeting of shareholders held on January 25, 2022. Approximately 99% of disinterested shareholders supported the resolution to exercise 15,000,000 common share purchase warrants issued to the company’s largest shareholder, Pala Investments Limited. The voting results indicated broad support, with 98.93% voting in favor and only 1.07% against. The exercise of these warrants is seen as a positive step in strengthening the company's financial position as it progresses with its Pumpkin Hollow copper project.

Nevada Copper Corp. (OTC: NEVDF) released a positive operational update on its Pumpkin Hollow underground mine. In December, the company achieved record development rates, advancing over 1,100 lateral equivalent feet, nearly 50% higher than November. The arrival of new bolter equipment is enhancing development rates, and surface ventilation fans have started arriving for installation. Mining of the high-grade Sugar Cube area is scheduled for Q1 2022. CEO Randy Buffington emphasized continued operational improvements and an accelerated ramp-up for production.

Nevada Copper (OTC: NEVDF) has announced significant operational advancements at its Pumpkin Hollow underground mine for H2 2021. Equipment availability rose from 65% to 74%, and contractor productivity improved by 31%. Development rates have surged by 50% since August, with plans for further increases. The company completed a C$125 million public equity offering, enhancing liquidity and reducing long-term debt by 30%. Management changes and infrastructure developments are set to boost production rates as they aim for a 3,000 tpd ramp-up in H1 2022.