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$Nevada Copper Operational Performance Continues to Accelerate
T.NCU | December 21, 2021
YERINGTON, Nev., Dec. 21, 2021 (GLOBE NEWSWIRE) -- Nevada Copper Corp. (TSX: NCU) (OTC: NEVDF)(FSE: ZYTA) (“Nevada Copper” or the “Company”) today provided a further positive operations update at its underground mine at the Company’s Pumpkin Hollow Project (the “Underground Mine”).
December Underground Operations Highlights:
https://stockhouse.com/news/press-releases/2021/12/21/nevada-copper-operational-performance-continues-to-accelerate
Development Achieves Record Rates
In line with the continued ramp-up, the Company is on track to advance over 1,100 lateral equivalent feet of development in December.
Development is running at the highest rate for 2021, and rates achieved month-to-date in December are almost 50% higher than November (representing almost a 100% increase since August 2021).
Additional Mobile Equipment Delivered and Commissioned
The first planned bolter has been delivered and is now operating underground, resulting in increased development rates and supporting further increases continuing into Q1 2022.
Two additional bolters are on track to be delivered to the underground mine in January enhancing further development rates.
First Delivery of Surface Ventilation Fans Arrived on Site
The first of three deliveries of the ventilation fan infrastructure has arrived on site, with full installation and commissioning continuing to be planned to be completed in Q1 2022.
The final package delivery is expected for the first week of January 2022.
Preparing to Mine Sugar Cube
Mining of the Sugar Cube, the first high-grade area in the East North Zone of the underground mine, continues to be planned for Q1 2022 (News Release, November 30, 2021).
“The Company continues to build on the operational improvements achieved over the past two quarters, providing further acceleration to the development and production ramp-up,” stated Randy Buffington, President and Chief Executive Officer. “The implementation of additional equipment, manpower and operational efficiencies led to the highest development rates attained this year. We are on track to complete 1,100 feet of lateral development this month, which puts the Company in a position to mine the first stope of the high-grade Sugar Cube as planned next month.”
Qualified Persons
The technical information and data in this news release was reviewed by Greg French, C.P.G., VP Head of Exploration of Nevada Copper, and Neil Schunke, P.Eng., a consultant to Nevada Copper, who are non-independent Qualified Persons within the meaning of NI 43-101.
About Nevada Copper
Nevada Copper (TSX: NCU) is a copper producer and owner of the Pumpkin Hollow copper project. Located in Nevada, USA, Pumpkin Hollow has substantial reserves and resources including copper, gold and silver. Its two fully permitted projects include the high-grade Underground Mine and processing facility, which is now in the production stage, and a large-scale open pit project, which is advancing towards feasibility status.
NEVADA COPPER CORP.
http://www.nevadacopper.com
Randy Buffington, President and CEO
For further information contact:
Rich Matthews, Investor Relations
Integrous Communications
rmatthews@integcom.us
+1 604 757 7179
$In GOD We Trust - Real Money - AU Safety 6000yrs 
)
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Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
https://www.usdebtclock.org/
God Bless
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166747120
Ps.
opinion appreciated
Well that may help explain today.....
$NEVDF GOLD TARGET $3,100-$7,600: Last Time Gold Had This Setup It Surged 330%!
December 16, 2021
https://kingworldnews.com/gold-target-3100-7600-last-time-gold-had-this-setup-it-surged-330/
Gold Surges Above $1,800 But This Will Trigger $30 Silver And $2,100 Gold
December 17, 2021
https://kingworldnews.com/gold-surges-above-1800-but-this-will-trigger-30-silver-and-2100-gold/
Is 2022 The Year For Gold & Silver? If The Central Banks & Private Citizens Keep Buying, It Will Be!
699 views Dec 8, 2021
) Well, I am a contrarian and buying when its down )
often makes good buying opportunity -
Randy restarted Hycroft Mine and I have been with it since Grangesbergs time
when they started it and Randy did a great work to
get it going again as a large world gold producer )
I have confidence in him with great work & mines )
Please, do your own DD and tell me more )
$NEVADA COPPER - Reaching Commercial Scale Production
28,668 views Premiered Oct 21, 2021
) 
NEVADA COPPER - Reaching Commercial Scale Production
28,668 views Premiered Oct 21, 2021
) $One Trillion in US infrastructure spending could >>>
Thx!! --- Xtra from another article:
The legislation that passed Friday night will deliver $550 billion of new
federal investments in America's infrastructure over five years,
including money for roads, bridges, mass transit, rail, airports,
ports and waterways.
The package includes a $65 billion investment in improving the nation's
broadband infrastructure, and invests tens of billions of dollars in
improving the electric grid and water systems.
Another $7.5 billion would go to building a nationwide network of
plug-in electric vehicle chargers, according to the bill text.
One Trillion in US infrastructure spending could >>>
boost copper demand: )
Infrastucture bill: $1,000,000,000,000
NCU mentioned in the Globe & Mail - Sector Perform
https://www.theglobeandmail.com/investing/markets/inside-the-market/article-tuesdays-analyst-upgrades-and-downgrades-181/
https://www.nevadacopper.com
Nevada Copper (TSX:NCU) TSX:NCU RSS Feed 0.99 + $0.2 (+25.32%)
Nevada Copper Corp (NCU)
0.99 + $0.2 (+25.32%)
Volume: 1,739,361 @10/12/21 4:00:00 PM EDT
Bid Ask Day's Range
0.95 0.99 0.81 - 0.99
TSX:NCU Detailed Quote
https://investorshub.advfn.com/Nevada-Copper-TSX-NCU-8828/
$Nevada Copper Corp. (NEVDD) New Oct. presentation
https://nevadacopper.com/site/assets/files/4234/ncu_corp_presentation_-_final.pdf
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166322477
$About Nevada Copper
Nevada Copper (TSX: NCU) is a copper producer and owner of the Pumpkin
Hollow copper project.
Located in Nevada, USA, Pumpkin Hollow has
substantial reserves and resources
including copper, gold and silver.
Its two fully permitted projects
include the high-grade underground mine
(the “Underground Mine”) and
processing facility, which is now in
the production stage, and
a large-scale open pit project,
which is
advancing towards feasibility status.
NEVADA COPPER CORP.
http://www.nevadacopper.com
Randy Buffington, President and CEO
For further information contact:
Rich Matthews, Investor Relations
Integrous Communications
rmatthews@integcom.us
+1 604 757 7179
Cautionary Language
Forward-looking statements and information include statements regarding the expectations and beliefs of management----expressed or implied by such forward-looking statements or information.
https://nevadacopper.com/site/assets/files/4231/2021-10-06-ncu-nr.pdf
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166009901
https://nevadacopper.com/news/
In GOD We Trust - Real Money -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA!
Nevada Copper (TSX:NCU) TSX:NCU RSS Feed 0.99 + $0.2 (+25.32%)
Nevada Copper Corp (NCU)
0.99 + $0.2 (+25.32%)
Volume: 1,739,361 @10/12/21 4:00:00 PM EDT
Bid Ask Day's Range
0.95 0.99 0.81 - 0.99
TSX:NCU Detailed Quote
https://investorshub.advfn.com/Nevada-Copper-TSX-NCU-8828/
$Nevada Copper Corp. (NEVDD) New Oct. presentation
https://nevadacopper.com/site/assets/files/4234/ncu_corp_presentation_-_final.pdf
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166322477
About Nevada Copper
Nevada Copper (TSX: NCU) is a copper producer and owner of the Pumpkin
Hollow copper project. Located in Nevada, USA, Pumpkin Hollow has
substantial reserves and resources including copper, gold and silver.
Its two fully permitted projects include the high-grade underground mine
(the “Underground Mine”) and processing facility, which is now in the
production stage, and a large-scale open pit project, which is
advancing towards feasibility status.
NEVADA COPPER CORP.
http://www.nevadacopper.com
Randy Buffington, President and CEO
For further information contact:
Rich Matthews, Investor Relations
Integrous Communications
rmatthews@integcom.us
+1 604 757 7179
Cautionary Language
Forward-looking statements and information include statements regarding the expectations and beliefs of management----expressed or implied by such forward-looking statements or information.
https://nevadacopper.com/site/assets/files/4231/2021-10-06-ncu-nr.pdf
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166009901
https://nevadacopper.com/news/
In GOD We Trust - Real Money -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA!
$Nevada Copper Corp. (NEVDD) New Oct. presentation
https://nevadacopper.com/site/assets/files/4234/ncu_corp_presentation_-_final.pdf
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166322477
About Nevada Copper
Nevada Copper (TSX: NCU) is a copper producer and owner of the Pumpkin
Hollow copper project. Located in Nevada, USA, Pumpkin Hollow has
substantial reserves and resources including copper, gold and silver.
Its two fully permitted projects include the high-grade underground mine
(the “Underground Mine”) and processing facility, which is now in the
production stage, and a large-scale open pit project, which is
advancing towards feasibility status.
NEVADA COPPER CORP.
http://www.nevadacopper.com
Randy Buffington, President and CEO
For further information contact:
Rich Matthews, Investor Relations
Integrous Communications
rmatthews@integcom.us
+1 604 757 7179
Cautionary Language
Forward-looking statements and information include statements regarding the expectations and beliefs of management----expressed or implied by such forward-looking statements or information.
https://nevadacopper.com/site/assets/files/4231/2021-10-06-ncu-nr.pdf
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166009901
https://nevadacopper.com/news/
In GOD We Trust - Real Money -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA!
$Nevada Copper Announces Transformative Balance Sheet Improvement
https://nevadacopper.com/news/nevada-copper-announces-transformative-balance-sheet-improvement/
https://nevadacopper.com/news/
NEVDD
+5.24%
Nevada Copper Corp.
Tue., October 12, 2021, 7:00 a.m.·9 min read
In this article:
NEVDD
+5.24%
YERINGTON, Nev., Oct. 12, 2021 (GLOBE NEWSWIRE) --
Nevada Copper Corp. (TSX: NCU) (OTC:NEVDD) (“Nevada Copper” or the “Company”) today announced that it has entered into an agreement with its senior project lender and a non-binding term sheet with its largest shareholder to provide additional financing and a significant deferral and extension of its debt facilities, providing substantially greater balance sheet flexibility and support for the completion of the ramp-up of its underground mining operations and subsequent advancement of its open pit project and broader property exploration targets.
Highlights
Extension of Senior Project Facility:
Two-year deferral of first loan repayments: First debt repayments deferred by two years, with Tranche A repayment only scheduled to begin in July 2025, providing significant additional flexibility
Extension of loan amortization schedule: Extended amortization schedule with final maturity now occurring in July 2029
Additional project completion flexibility: The long stop date for the formal commercial project completion test deferred until June 2023
Consolidation and extension of shareholder loans
Consolidation of shareholder loans: All outstanding shareholder loans consolidated under a single existing shareholder credit facility, as amended (the “Amended Credit Facility”)
Two-year extension to maturity date: Maturity of the Amended Credit Facility deferred until 2026, with no scheduled payments before final maturity
Additional committed liquidity: Increased availability of US$41 million under the Amended Credit Facility
Randy Buffington, Chief Executive Officer of the Company, commented: “These combined balance sheet improvements provide significant additional runway for the Company as we move forward to complete the ramp-up of our underground operations. The ongoing support of two of our major stakeholders provides further validation of the significant inherent value of our copper operations in Nevada and allows us to continue to pursue the growth potential embedded within our asset base”.
Further Details
Senior Project Facility Extension
The Company has entered into the following amendments to its amended and restated credit facility (the “KfW Facility”) with its senior project lender, KFW-IPEX Bank:
Under the US$115 million Tranche A of the KfW Facility:
The first debt repayment now occurs two years later on July 31, 2025, with the debt service reserve account to be funded six months prior;
The final amortization now occurs one year later on July 31, 2029;
The interest margin on the loan increases by 0.5% to 2.1%, reflective of the extended loan tenor; and
Commencement of the project cash sweep under the existing facility agreement will be deferred by two years to January 31, 2024. A one-time extraordinary cash sweep of excess cash will also be deferred by two years to July 31, 2025.
Under the US$15 million Tranche B of the KfW Facility:
The first debt repayment now occurs two years later on July 31, 2024, with no debt service reserve account requirement;
The final amortization now occurs later on July 31, 2025; and
The interest margin on the loan increases by 0.5% to 5.4%, reflective of the extended loan tenor.
In relation to these changes, an amendment fee of 0.25% is payable with 90 days of closing of the facility amendments, and a further 0.75% is payable following the project completion test.
A condition precedent of the facility amendment is the receipt by the Company’s wholly-owned subsidiary, Nevada Copper, Inc., of at least US$40 million in net proceeds from debt or equity financings (the “KfW Condition”). If fully drawn the Amended Credit Facility would satisfy this condition.
Shareholder Loans Consolidation and Extension
Concurrent with securing the amendments to the KfW Facility, the Company has entered into a non-binding term sheet with Pala Investments Limited (“Pala”), the Company’s largest shareholder, providing for all outstanding shareholder loan promissory notes to be consolidated under the existing credit facility previously provided by Pala to the Company on February 3, 2021. The Amended Credit Facility will reflect the following amendments:
The Amended Credit Facility shall be increased to US$138 million, with the use of funds to include:
Additional liquidity of US$41 million (the “Additional Tranche”), which if fully drawn would satisfy the conditions precedent under the amended KfW Facility; and
The retirement of all other outstanding shareholder loans in the form of promissory notes;
Maturity date extended by two years until 2026 under the Amended Credit Facility, with no scheduled payments before final maturity; and
No change to the existing interest rates or other material terms in the Amended Credit Facility.
In relation to these changes, an amendment and extension fee of 4% of the principal amount of the Amended Credit Facility, excluding the Additional Tranche, shall be payable at closing of the Amended Credit Facility, such fee to be capitalized to the Amended Credit Facility balance. A disbursement fee of 2% will apply to amounts of the Additional Tranche that are drawn by the Company and will be capitalized to the Amended Credit Facility balance at the time of such draws. Fifteen million common share warrants shall be issued to Pala, exercisable until the maturity of the Amended Credit Facility, at an exercise price equal to the lower of a 25% premium to the 5-day volume weighted average price of the shares of the Company immediately prior to the closing of the Amended Credit Facility, or a 25% premium to the 5-day volume weighted average price of the shares of the Company immediately following the announcement of the offering price of any equity financing the Company may pursue prior to the closing of the Amended Credit Facility.
Should the Company complete one or more equity financings in the future, Pala will be entitled to equitize and/or convert up to US$35 million of principal loan amounts outstanding under the Amended Credit Facility into new common shares of the Company on the same terms of any such financing.
The terms of the Amended Credit Facility have been reviewed and approved by the independent directors of the Company. The closing of the Amended Credit Facility is subject to the negotiation of definitive documentation and the approval of the TSX. There can be no assurance that definitive documentation in respect of the Amended Credit Facility as outlined above will be entered into. If the Amended Credit Facility is not entered into, the Company will require other financing to be able to satisfy the KfW Condition.
About Nevada Copper
Nevada Copper (TSX: NCU) is a copper producer and owner of the Pumpkin Hollow copper project. Located in Nevada, USA, Pumpkin Hollow has substantial reserves and resources including copper, gold and silver. Its two fully permitted projects include the high-grade underground mine (the “Underground Mine”) and processing facility, which is now in the production stage, and a large-scale open pit project, which is advancing towards feasibility status.
NEVADA COPPER CORP.
http://www.nevadacopper.com
Randy Buffington, President and CEO
For further information contact:
Rich Matthews, Investor Relations
Integrous Communications
rmatthews@integcom.us
+1 604 757 7179
Cautionary Language
Forward-looking statements and information include statements regarding the expectations and beliefs of management----expressed or implied by such forward-looking statements or information.
https://nevadacopper.com/site/assets/files/4231/2021-10-06-ncu-nr.pdf
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166009901
https://nevadacopper.com/news/
In GOD We Trust - Real Money -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA!
$Codelco raises Europe copper premium by 31% in bullish signal
Bloomberg News | October 11, 2021 | 8:42 am Markets Europe Copper
https://www.mining.com/web/codelco-raises-europe-copper-premium-by-31-in-bullish-signal/
Source: Codelco
Codelco offered to supply copper to European customers at a $128 premium over futures next year, signaling that the world’s biggest copper miner expects strong demand to continue even as growth headwinds swirl.
Codelco boosted its annual premium by $30 a ton, according to a person familiar with the matter who asked not to be identified discussing private information. The offer is $5 higher than the premium announced by leading European producer Aurubis.
SIGN UP FOR THE COPPER DIGEST
The miner made its offer at the start of London Metal Exchange Week, when producers, consumers and traders convene in the U.K. capital to thrash out supply deals for the coming year. While copper demand has been booming, rampant inflation and the burgeoning global energy crisis are casting a pall over the growth outlook. Rising freight rates have also raised costs for suppliers like Codelco.
One key risk for manufacturers is that the global economy shifts into a period of stagflation, where demand in sectors like consumer goods and construction plunges while raw materials prices remain stubbornly high.
Even so, with unprecedented stimulus funding now feeding its way into metals-intensive renewables projects, manufacturers are also conscious of the risk that demand will outpace supply. Nexans, a leading cable-maker, has said it will bulk up in copper recycling to insulate itself against future shortages.
The Codelco premium was earlier reported by Fastmarkets.
(By Mark Burton)
$Nevada Copper Provides Update on Accelerating Stope Production and Ramp-Up Progress and Announces Appointment of Chief Executive Officer
T.NCU
YERINGTON, Nev., Oct. 06, 2021 (GLOBE NEWSWIRE) --
$Nevada Copper Corp. (TSX: NCU) (OTC: NEVDD) (“Nevada Copper” or the “Company”) today provided a further update on positive September operational performance at the Company’s underground mine at its Pumpkin Hollow Project (the “Underground Mine”). In addition, the Company is pleased to announce the appointment of Randy Buffington as President and Chief Executive Officer, further strengthening its senior management team as operational productivity and production ramp-up at the Underground Mine.
September Operational Highlights
Higher Copper Production: Copper in concentrate produced during September increased by 265% compared to August driven by higher stope production. Approximately 30,386 tons of ore were processed yielding 682 tons of concentrate at an average grade of 22%, resulting in approximately 150 tons of copper production.
Improved rate of stope turnover: Stoping has accelerated significantly since mid-August, with the second and third stope panels fully mined and a fourth stope panel expected to be mined this week. Further stopes are planned in October and November, and the high-grade Sugar Cube zone is also expected to begin to be mined during Q4.
Increasing Development Rates: September saw the highest monthly development footage achieved since April 2021, with a 12% increase over August. Development activities included completion of the crossing of the water bearing dike, accessing additional stoping zones and installation of development infrastructure. A total of approximately 750 lateral equivalent feet was advanced in September.
Mike Brown, outgoing Interim President and Chief Executive Officer, commented: “I am very pleased to see the improved trajectory in our production ramp-up and a recovery in productivities. The increased ore production was a key objective for September, and together with the improving productivities on site, along with the ongoing management strengthening, provide further confidence in the mine ramp-up.”
Management Update
Randy Buffington will join Nevada Copper as President and Chief Executive Officer with immediate effect. With extensive experience in underground and open pit mining operations, both in Nevada and internationally, Mr. Buffington has successfully delivered multiple project ramp-ups and productivity improvements in an underground setting, in addition to overseeing the development and operation of multiple large open pit projects. Most recently at Hycroft Mining, he was responsible for the operational reforms, successfully executing a project turnaround and delivering significant shareholder value as President and Chief Executive Officer. Previously, he held various senior management positions with Barrick from 2003 to 2012, overseeing North American and Zambian operations. He also held senior management positions with Placer Dome and Cominco.
Mr. Buffington brings a deep industry network in Nevada and a strong track record of value delivery in both operating underground mines and large open pit projects, ideally positioning him to lead Nevada Copper towards the delivery of steady state production from its Underground Mine and realizing the full potential of its fully-permitted open pit project and extensive landholdings within the Yerington Copper District.
“The addition of Mr. Buffington further strengthens the Company’s senior management team and provides deeply experienced, long-term leadership as the Company moves to complete the ramp-up of the Underground Mine and go on to maximize the full value of its open pit project and exploration targets,” stated Stephen Gill, Chairman of Nevada Copper.
“I look forward to working with the team at Nevada Copper as we continue to push and improve productivity and accelerate our transition into a commercial producer,” stated Randy Buffington, President and CEO of Nevada Copper. “There is a tremendous foundation to build on at Pumpkin Hollow and I am pleased to be leading the Company towards realizing its full potential as a mid-tier copper producer.”
Mike Brown will step down as Interim President and Chief Executive Officer and continue his active involvement and oversight through his ongoing role as director.
“On behalf of the Company, I would like to thank Mike Brown for his commitment as Interim President and Chief Executive Officer, and I look forward to his continued active involvement going forward,” stated Mr. Gill.
Qualified Persons
The technical information and data in this news release was reviewed by Greg French, C.P.G., VP Head of Exploration of Nevada Copper, and Neil Schunke, P.Eng., a consultant to Nevada Copper, who are both non-independent Qualified Persons within the meaning of NI 43-101.
About Nevada Copper
Nevada Copper (TSX: NCU) is a copper producer and owner of the Pumpkin Hollow copper project. Located in Nevada, USA, Pumpkin Hollow has substantial reserves and resources including copper, gold and silver. Its two fully permitted projects include the high-grade Underground Mine and processing facility, which is now in the production stage, and a large-scale open pit project, which is advancing towards feasibility status.
NEVADA COPPER CORP.
http://www.nevadacopper.com
Randy Buffington, President and CEO
For further information contact:
Rich Matthews, Investor Relations
Integrous Communications
rmatthews@integcom.us
+1 604 757 7179
Cautionary Language
This news release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts are forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements that relate to mine development, production and ramp-up plans.
Forward-looking statements and information include statements regarding the expectations and beliefs of management----expressed or implied by such forward-looking statements or information.
https://nevadacopper.com/site/assets/files/4231/2021-10-06-ncu-nr.pdf
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166009901
https://nevadacopper.com/news/
In GOD We Trust - Real Money -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA!
$Nevada Copper Provides Update on Accelerating Stope Production and Ramp-Up Progress and Announces Appointment of Chief Executive Officer
T.NCU
YERINGTON, Nev., Oct. 06, 2021 (GLOBE NEWSWIRE) --
$Nevada Copper Corp. (TSX: NCU) (OTC: NEVDD) (“Nevada Copper” or the “Company”) today provided a further update on positive September operational performance at the Company’s underground mine at its Pumpkin Hollow Project (the “Underground Mine”). In addition, the Company is pleased to announce the appointment of Randy Buffington as President and Chief Executive Officer, further strengthening its senior management team as operational productivity and production ramp-up at the Underground Mine.
September Operational Highlights
Higher Copper Production: Copper in concentrate produced during September increased by 265% compared to August driven by higher stope production. Approximately 30,386 tons of ore were processed yielding 682 tons of concentrate at an average grade of 22%, resulting in approximately 150 tons of copper production.
Improved rate of stope turnover: Stoping has accelerated significantly since mid-August, with the second and third stope panels fully mined and a fourth stope panel expected to be mined this week. Further stopes are planned in October and November, and the high-grade Sugar Cube zone is also expected to begin to be mined during Q4.
Increasing Development Rates: September saw the highest monthly development footage achieved since April 2021, with a 12% increase over August. Development activities included completion of the crossing of the water bearing dike, accessing additional stoping zones and installation of development infrastructure. A total of approximately 750 lateral equivalent feet was advanced in September.
Mike Brown, outgoing Interim President and Chief Executive Officer, commented: “I am very pleased to see the improved trajectory in our production ramp-up and a recovery in productivities. The increased ore production was a key objective for September, and together with the improving productivities on site, along with the ongoing management strengthening, provide further confidence in the mine ramp-up.”
Management Update
Randy Buffington will join Nevada Copper as President and Chief Executive Officer with immediate effect. With extensive experience in underground and open pit mining operations, both in Nevada and internationally, Mr. Buffington has successfully delivered multiple project ramp-ups and productivity improvements in an underground setting, in addition to overseeing the development and operation of multiple large open pit projects. Most recently at Hycroft Mining, he was responsible for the operational reforms, successfully executing a project turnaround and delivering significant shareholder value as President and Chief Executive Officer. Previously, he held various senior management positions with Barrick from 2003 to 2012, overseeing North American and Zambian operations. He also held senior management positions with Placer Dome and Cominco.
Mr. Buffington brings a deep industry network in Nevada and a strong track record of value delivery in both operating underground mines and large open pit projects, ideally positioning him to lead Nevada Copper towards the delivery of steady state production from its Underground Mine and realizing the full potential of its fully-permitted open pit project and extensive landholdings within the Yerington Copper District.
“The addition of Mr. Buffington further strengthens the Company’s senior management team and provides deeply experienced, long-term leadership as the Company moves to complete the ramp-up of the Underground Mine and go on to maximize the full value of its open pit project and exploration targets,” stated Stephen Gill, Chairman of Nevada Copper.
“I look forward to working with the team at Nevada Copper as we continue to push and improve productivity and accelerate our transition into a commercial producer,” stated Randy Buffington, President and CEO of Nevada Copper. “There is a tremendous foundation to build on at Pumpkin Hollow and I am pleased to be leading the Company towards realizing its full potential as a mid-tier copper producer.”
Mike Brown will step down as Interim President and Chief Executive Officer and continue his active involvement and oversight through his ongoing role as director.
“On behalf of the Company, I would like to thank Mike Brown for his commitment as Interim President and Chief Executive Officer, and I look forward to his continued active involvement going forward,” stated Mr. Gill.
Qualified Persons
The technical information and data in this news release was reviewed by Greg French, C.P.G., VP Head of Exploration of Nevada Copper, and Neil Schunke, P.Eng., a consultant to Nevada Copper, who are both non-independent Qualified Persons within the meaning of NI 43-101.
About Nevada Copper
Nevada Copper (TSX: NCU) is a copper producer and owner of the Pumpkin Hollow copper project. Located in Nevada, USA, Pumpkin Hollow has substantial reserves and resources including copper, gold and silver. Its two fully permitted projects include the high-grade Underground Mine and processing facility, which is now in the production stage, and a large-scale open pit project, which is advancing towards feasibility status.
NEVADA COPPER CORP.
http://www.nevadacopper.com
Randy Buffington, President and CEO
For further information contact:
Rich Matthews, Investor Relations
Integrous Communications
rmatthews@integcom.us
+1 604 757 7179
Cautionary Language
This news release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts are forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements that relate to mine development, production and ramp-up plans.
Forward-looking statements and information include statements regarding the expectations and beliefs of management----expressed or implied by such forward-looking statements or information.
https://nevadacopper.com/site/assets/files/4231/2021-10-06-ncu-nr.pdf
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166009901
https://nevadacopper.com/news/
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Nevada Copper Announces Financing Update
T.NCU
YERINGTON, Nev., Oct. 01, 2021 (GLOBE NEWSWIRE) --
https://nevadacopper.com/news/nevada-copper-announces-financing-update/
https://nevadacopper.com/news/
Nevada Copper Corp. (TSX: NCU) (OTC: NEVDD) (“Nevada Copper” or the
“Company”) is pleased announce that the Company has received a further
extension of the waiver from KfW IPEX-Bank (“KfW”), the Company’s
senior project lender, to October 31, 2021 to complete the project
completion test (the “Project Longstop Date”) under the Company’s
amended and restated credit agreement (the “Amended KfW Facility”).
As previously announced, the Company and KfW are in discussions regarding a longer-term extension of the Project Longstop Date. While there can be no assurance, the Company expects to enter into this longer-term extension and finalize certain other amendments, including payment deferrals, to the Amended KfW Facility by the end of October.
As a condition to the most recent waiver from KfW, Pala Investments Limited (“Pala”), the Company’s largest shareholder, will provide a new US$12 million loan to the Company pursuant to a promissory note entered into between Pala and the Company (the “Promissory Note”).
The Promissory Note has substantially the same terms as the amended and restated promissory note issued by the Company in favour of Pala, as described in the Company’s August 31, 2021 press release, however, no arrangement fee is payable to Pala under the Promissory Note.
The Promissory Note was reviewed and approved by a committee of independent directors of the Company.
Effective September 30, 2021, Justin Cochrane resigned from the Company’s board of directors (the “Board”) in order to focus on the other businesses that he’s involved with and to reduce the number of boards on which he sits.
“On behalf of the Company, I would like to thank Justin Cochrane for his contributions to the Company and wish him success in his future endeavours,” stated Stephen Gill, Chairman of the Board.
About Nevada Copper
Nevada Copper (TSX: NCU) is a copper producer and owner of the Pumpkin Hollow copper project. Located in Nevada, USA, Pumpkin Hollow has substantial reserves and resources including copper, gold and silver. Its two fully permitted projects include the high-grade underground mine and processing facility, which is now in the production stage, and a large-scale open pit project, which is advancing towards feasibility status.
NEVADA COPPER CORP.
http://www.nevadacopper.com
Mike Brown, Interim President and CEO
For further information contact:
Rich Matthews, Investor Relations
Integrous Communications
rmatthews@integcom.us
+1 604 757 7179
Cautionary Language
This news release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts are forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements that relate to an extension and amendments in connection with the Amended KfW Facility.
Forward-looking statements and information include statements regarding the expectations and beliefs of management. That are available at
httP;//www.sedar.com
Nevada Copper provides no assurance that forward-looking statements and information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=166009901
In GOD We Trust - Real Money -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA!
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