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NCU – Nevada Copper’s Pumpkin Hollow Now Fully Funded And Permitted

Published 09/10/2013, 01:54 AM
Updated 07/09/2023, 06:31 AM
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Today Nevada Copper Corp. (NCU.TO), a Vancouver-based junior mining company developing the Pumpkin Hollow project in Nevada, announced they have received their final permit required for construction and operation of Stage 1 of the underground project, the Nevada Air Quality Operating Permit. The Pumpkin Hollow underground project is now fully permitted for mine construction and operations.

With all permits in hand, the company is to receive a further US$15 million under the US$200 million RK Mine Finance senior secured loan facility and copper concentrate off-take agreements (March 28, 2013 News Release).

Giulio Bonifacio, President and CEO, stated:

”This is a very significant milestone for Nevada Copper, as the path is now clear for us to build and operate our Stage 1 underground operation. We now have a fully permitted project that we will advance to commercial production in 2015. We are very pleased with the diligence of NDEP staff to review our applications and issue permits for Pumpkin Hollow in a timely manner. We will now move forward in Q4 with the execution of both an equipment lease and precious metal stream which when combined with sunk costs and our current treasury will provide substantially all the project funding required while allowing us to achieve the most significant milestone since the company was formed in late 2006 — a fully funded and permitted project.”

The release discussed other corporate developments including a Stage 2 open pit feasibility study. Read: Nevada Copper Receives All Permits For Stage 1 Underground Mine.

Shares in NCU were trading up approx. 4% in at press time (7:33AM PST), last at $2.30.
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