Last C$1.69 CAD
Change Today +0.11 / 6.96%
Volume 211.2K
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As of 4:00 PM 02/27/15 All times are local (Market data is delayed by at least 15 minutes).

nevada copper corp (NCU) Snapshot

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07/10/14 - C$2.83
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01/15/15 - C$1.12
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nevada copper corp (NCU) Details

Nevada Copper Corp., a development stage mining company, identifies, acquires, explores for, and develops copper and other mineral properties primarily in the United States. The company primarily focuses on the development of its 100% owned Pumpkin Hollow property covering an area of 1,388 acres, located in north-western Nevada. It explores for copper, gold, silver, and iron ores. Nevada Copper Corp. is based in Vancouver, Canada.

8 Employees
Last Reported Date: 03/26/14

nevada copper corp (NCU) Top Compensated Officers

Founder, Chief Executive Officer, President, ...
Total Annual Compensation: C$181.3K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: C$126.3K
Compensation as of Fiscal Year 2013.

nevada copper corp (NCU) Key Developments

Nevada Copper Closes $200 Million Loan Facility

Nevada Copper Corp. announced the closing of a $200 million senior secured loan facility and copper concentrate off take agreement with RK Mine Finance. This Loan Facility replaces the Company's previous loan facility entered into on March 28, 2013. Net proceeds from the initial $90 million drawdown on closing will be used for purposes of repaying the Previous Facility and advancing the underground mine on Nevada Copper's 100% wholly owned Pumpkin Hollow copper project located near Yerington, Nevada. The Concentrate Off-Take agreement does not include any rights to future copper concentrate production from the open pit deposits and provides for benchmark-referenced treatment and refining charges, with standard payment factors for contained copper, gold and silver. In connection with the Previous Facility and the initial drawdown of the Loan Facility, a total of 59% of the Concentrate Off-Take from the Underground Mine is currently allocated. This represents approximately 12% of the total project copper reserves.

Nevada Copper Corp. Provides Project Update on Pumpkin Hollow Copper Project

Nevada Copper Corp. provided an update on its 100% owned Pumpkin Hollow Copper Project, located near Yerington, Nevada. The update relates to developments in the U.S. Congress relating to the Land Bill and project financing. The Lyon County Economic Development and Conservation Act has now been included in the National Defense Authorization Act (NDAA), a bill that has passed Congress without fail for 51 consecutive years. Senate and House leadership reached the deal and published the bill late on December 2, 2014 and will now bring it to the floor of both Houses for passage, which is expected next week. NDAA is a ‘must-pass’ piece of legislation and Senators agreed to include the resources title. The text of the NDAA is now public. The Yerington legislation is referenced as Section 3009 starting on Page 1,144. Nevada Copper is very confident that the NDAA, and thus, land bill, will pass. Once signed into law by President Obama, the legislation requires that legal acquisition and transfer of the land to the City of Yerington must be completed by the Bureau of Land Management within 180 days of passage. During this period, Nevada Copper would work to complete the remaining Stage 2 State permitting. The company and the City of Yerington have already been collaborating on work needed to meet that 180-day deadline and sets the stage for issuance of all key Stage 2 permits by second quarter of fiscal 2015. Passage of the bill also has positive cost implications for the Stage 1 and Stage 2 projects.

Nevada Copper Corp. Provides Updated on Pumpkin Hollow Copper Project

Nevada Copper Corp. provided an update on its 100% owned Pumpkin Hollow Copper Project, located near Yerington, Nevada. The update focuses on production shaft progress, the Stage 2 open pit optimization, the Land Bill and project financing. The circular 24-foot diameter concrete-lined production shaft is currently at the 1,475 foot level - over 77% of the way towards the main 1906 haulage level. Since April 1, 2014, 804 feet of shaft have been sunk. During this time period a mid-shaft pump station was also excavated at the 960 level. The shaft continues to progress through dry ground with water inflows controlled by two fully-commissioned dewatering wells. The 1906 foot haulage level is expected to be reached in January 2015 at which point lateral development will commence to provide setup locations for development drilling as well as access to the East ore zones. The last drilling in the East deposit was completed from surface in 2010, with the deposit remaining open in several directions. The planned underground drill program will focus on enlarging the high grade zones within the current reserve and will provide additional data for mine development designs while expanding the open mineralized areas. After the Stage 2 Open Pit Feasibility Study was completed in 2013, results from 9,880 meters (32,414 feet) of additional drilling on the North Deposit were received. In second quarter of 2014, the company decided to incorporate these drill results and ascertain if the data would improve the present mine design. In particular, drill hole NC12-3, on the southwestern edge of the North Deposit ultimate pit intersected 690 feet (210.3 meters), 625.3 feet (190.6 meters) true thickness, grading 1.17% copper, including 150 feet grading 3.8%.


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