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NEVADA COPPER CORP - NEVDF STOCK NEWS

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.
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Nevada Copper Corp. (OTC: NEVDF) recently provided key updates on its operations at the Pumpkin Hollow Project. The company reported a 20% increase in lateral development rates at its Underground Mine, totaling approximately 760 feet over the past month. The high-grade Sugar Cube zone is set for drilling in December, with mining expected to start in Q1 2022. The processing plant is functioning well, and surface ventilation fans are on schedule for installation. Additionally, the company plans to enhance its open pit studies with new funding.

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Nevada Copper (OTC: NEVDF) reported positive operational performance updates from its Pumpkin Hollow Project as of November 8, 2021. Key highlights include accelerating stoping rates with four stopes mined in H2 2021, including a stope with over 2% copper grade. The Company plans to begin mining the higher-grade Sugar Cube zone soon. Progress on lateral development and geotechnical improvements are ongoing. Surface ventilation fans are on track for late Q4 2021 delivery, and key mining positions are being filled, enhancing operational capacity.

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Nevada Copper Corp. (OTC: NEVDF) announced key management updates and the progress of its productivity improvement plan regarding the Pumpkin Hollow Project. Highlights include accelerated stope turnover rates at the underground mine and successful implementation of operational improvements. The company added critical mining and technical staff to enhance management capacity. Additionally, progress is being made on credit facility amendments with KfW-IPEX Bank. The completion of a share consolidation, now trading as one post-consolidation share for every ten pre-consolidation shares, was also reported.

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Nevada Copper Corp. (OTC: NEVDF) has announced a 10:1 share consolidation effective September 17, 2021. Following this, outstanding shares will decrease from approximately 1.85 billion to about 185 million. The Toronto Stock Exchange has conditionally approved this action, which aims to enhance the share price. Post-consolidation trading will begin around September 21, 2021. The adjustments will also affect existing warrants from prior public offerings, which will now require C$2.00 and C$2.20 for exercised shares respectively.

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Nevada Copper Corp. (TSX: NCU) (OTC: NEVDF) has updated its operations at the Pumpkin Hollow underground mine. Key developments include the completion of the first water dike crossing, lateral development into solid ground, and mining of the second stope with a copper grade of 1.45%. Financing updates reveal an extension of the Project Longstop Date and an amendment to a Promissory Note with an additional $13 million in liquidity for ramping up production. Challenges remain, including the potential for project completion test default if financing extensions are not finalized.

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Nevada Copper Corp. (TSX: NCU) (OTC: NEVDF) announced operational updates on its Pumpkin Hollow project. Recent developments include successful completion of the first water dike crossing, with lateral advancements into solid ground. The second stope was mined with a CuEq grade of 1.45%, and future production rate increases are anticipated. Financing updates reveal an extension from KfW IPEX-Bank for project completion tests and an amendment of a promissory note allowing an additional $13 million liquidity. These developments are crucial for ramping up the Underground Mine.

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Nevada Copper Corp. (OTC: NEVDF) provided an operations update and unveiled its Q2 2021 financial results. The company successfully mined 9,500 tons of copper at a grade of 1.5% from its first stope, despite delays. Infrastructure improvements are ongoing, with a peak daily hoisting rate reaching 5,000 tons, expected to be sustainable by Q4 2021. The company received forgiveness for a $2.4 million PPP loan and is in discussions for an extension of its KfW credit facility. Changes in leadership were announced, with Mike Ciricillo stepping down as CEO.

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Nevada Copper Corp. (OTC: NEVDF) announced progress in ramping up its Underground Mine and advancing the Open Pit project at Pumpkin Hollow, Nevada. The company has safely crossed the dike structure, which is expected to enhance development rates. Underground ventilation systems have been commissioned on schedule, with steady-state production anticipated in Q4 2021. Furthermore, planning indicates potential long-term production rates may exceed 6,500 tons per day. A solar power feasibility study shows the potential for significant cost reductions in the Open Pit project.

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Nevada Copper Corp. (OTC: NEVDF) announced positive outcomes from its 2021 Annual and Special Meeting. Approximately 63% of shareholders were represented, with all proposed resolutions approved, including the election of eight directors and the appointment of PricewaterhouseCoopers as auditor. Notably, shareholders approved a share consolidation at a ratio of 1:10, allowing the board to implement it before year-end. The company operates the Pumpkin Hollow copper project, with both underground and open-pit mining initiatives progressing towards production and feasibility, respectively.

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Nevada Copper Corp. (OTC: NEVDF) released an operations update for Q1 2021, highlighting significant progress in mining and production at its Pumpkin Hollow project. The company initiated stope mining with an average grade of 2.5% CuEq and achieved peak daily hoisting rates exceeding 3,000 tons. Production ramp-up is expected to reach 3,000 tons per day by June 2021, though delays in surface ventilation commissioning may impact the timeline for achieving full production rates. Notably, Q1 processing saw improved recoveries above 90%, with 119,000 tons processed and a maximum milling throughput of 5,000 tons per day.

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FAQ

What is the current stock price of NEVADA COPPER (NEVDF)?

The current stock price of NEVADA COPPER (NEVDF) is $0.0182 as of June 7, 2024.

What is the market cap of NEVADA COPPER (NEVDF)?

The market cap of NEVADA COPPER (NEVDF) is approximately 31.2M.

What is NEVADA COPPER CORP focused on?

NEVADA COPPER CORP is focused on the exploration and development of copper deposits in Nevada.

What are the current challenges facing NEVADA COPPER CORP?

The company is facing challenges in securing funding for completing the commissioning and ramp-up of its underground mine.

Who are the major stakeholders of NEVADA COPPER CORP?

Pala Investments Limited is the company's largest shareholder, along with other existing stakeholders.

What interim funding has been provided to NEVADA COPPER CORP?

Certain stakeholders have provided limited interim funding to help the company continue its operations.

What steps may NEVADA COPPER CORP take if funding is not secured?

In the absence of sufficient funding, the company may need to seek creditor protection.

Are there ongoing discussions for additional financing?

Yes, the company is in discussions with third parties for additional financing.

What is the primary focus of NEVADA COPPER CORP's operations?

The company's primary focus is on completing the commissioning and ramp-up of its underground mine.

Is NEVADA COPPER CORP seeking a change of control transaction?

The company is exploring a potential change of control transaction as part of its funding strategy.

What assurances are there regarding ongoing discussions for funding?

There can be no assurance that discussions with stakeholders or third parties will progress successfully.

Who is providing limited additional funding to NEVADA COPPER CORP?

Certain stakeholders, including Pala Investments Limited, have confirmed their intention to provide limited additional funding.

What is the potential consequence of not securing funding for NEVADA COPPER CORP?

Without sufficient funding, the company may not be able to continue operations and may need to seek creditor protection.

NEVADA COPPER CORP

OTC:NEVDF

NEVDF Rankings

NEVDF Stock Data

31.17M
349.61M
79.01%
0.07%
Copper
Basic Materials
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United States of America
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