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Nevada Copper Corp. (NCU.TO)

Toronto - Toronto Real Time Price. Currency in CAD
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0.1900-0.0150 (-7.32%)
At close: 3:58PM EST
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Previous Close0.2050
Open0.2100
Bid0.1850 x 0
Ask0.1900 x 0
Day's Range0.1850 - 0.2100
52 Week Range0.0600 - 0.2600
Volume5,086,034
Avg. Volume4,128,006
Market Cap341.612M
Beta (5Y Monthly)1.98
PE Ratio (TTM)N/A
EPS (TTM)-0.0220
Earnings DateMar. 29, 2021 - Apr. 02, 2021
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est0.24
  • The Canadian Press

    Most actively traded companies on the Toronto Stock Exchange

    TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange: Toronto Stock Exchange (18,416.74, up 32.47 points.) Suncor Energy Inc. (TSX:SU). Energy. Up $1.96, or 8.19 per cent, to $25.90 on 24.7 million shares. Nevada Copper Corp. (TSX:NCU). Materials. Down 3.5 cents, or 14.89 per cent, to 20 cents on 19.8 million shares. Zenabis Global Inc. (TSX:ZENA). Health care. Down two cents, or 12.5 per cent, to 14 cents on 18 million shares. Enbridge Inc. (TSX:ENB). Energy. Up 54 cents, or 1.24 per cent, to $44.24 on 17.7 million shares. Cenovus Energy Inc. (TSX:CVE). Energy. Up 34 cents, or 3.9 per cent, to $9.06 on 17.6 million shares. The Supreme Cannabis Co. Inc. (TSX:FIRE). Health care. Down one cent, or 3.13 per cent, to 31 cents on 16.7 million shares. Companies in the news: Just Energy Group Inc. (TSX:JE). Down $2.32, or 31.9 per cent, to $4.96. Shares in Canadian energy retailer Just Energy Group Inc. fell after it warned it may not be able to continue operating due to hundreds of millions of dollars in losses because of extreme winter weather in Texas over the past week. In a news release, the company says it is facing a loss of US$250 million (about C$315 million) due to high electricity prices during the unusually cold weather from Feb. 13 to 19. It says its price of power in Texas was artificially set at US$9,000 per megawatt-hour for much of the week, resulting in a "substantial negative financial impact" unless there is corrective action by the government. The company says it has delayed financial reports expected last week for the periods ending Dec. 31 until late this week, so it can better review and understand the impact of the Texas event. TC Energy Corp. (TSX:TRP). Up 47 cents to $56.86. TC Energy Corp. says it has no intention of again sweetening its bid to buy out the other unitholders of TC PipeLines LP, a U.S. master limited partnership it operates, despite the vow of its largest non-affiliated investor to vote against the transaction. On Friday, Connecticut-based Energy Income Partners said it believes the offer of 0.7 common shares of TC Energy for each unit of TC PipeLines is inadequate and "significantly undervalues" its assets and growth potential. The dissident unitholder says it owns more than 10 per cent of the partnership and has maintained a position in the company for nearly 15 years. TC Energy owns about 24 per cent of the units. In its response, TC Energy says the exchange ratio represents a 20.8 per cent premium to the partnership's closing price before the original offer as of Oct. 2. This report by The Canadian Press was first published Feb. 22, 2021. The Canadian Press

  • Nevada Copper Provides Corporate and Operations Update
    GlobeNewswire

    Nevada Copper Provides Corporate and Operations Update

    All amounts herein are in United States Dollars unless otherwise indicatedYERINGTON, Nev., Feb. 19, 2021 (GLOBE NEWSWIRE) -- Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company”) provides a corporate and operations update for the underground mine at its Pumpkin Hollow project (the “Underground Project”). Operations Update Shaft Commissioning and Hoisting Following completion of the main shaft material handling system, the Company achieved a peak daily hoisting rate of over 3,000 tons in February, and has achieved a hoisting rate equivalent to 5,000 tons per day on a shift basis.Despite the improving hoisting rates, the cumulative impact of a series of unplanned stoppages due to mechanical issues and other incidents in the main shaft has led to lower than expected ore production to date in 2021. Average hoisting rates for February to date were approximately 1,600 tons per day, compared to plan of approximately 3,000 tons per day. Retrofitting work to resolve these issues is expected to be completed in the coming weeks. Milling Operations Mill throughput has performed well at an average of approximately 3,100 tons of ore per day to date in 2021, with a peak of 4,000 tons per day.Recoveries have continued to increase, with average recoveries of approximately 90% in February.Product specifications remain consistent with expectations, with high-grade, clean copper concentrates being delivered to the Company’s offtaker.The mill continues to process development ore, with higher grade stope ore expected to be available in the coming months as planned. Production Ramp-up As a result of the shaft delays noted above, and delayed upgrade of the underground electrical and ventilation systems, production of copper concentrates during the first half of 2021 is expected to be significantly lower than planned.The resolution of the main shaft commissioning items, the ongoing installation of incremental underground power and ventilation upgrades and the deployment underground of additional mobile fleet equipment is expected to result in increased copper production rates beginning in the second quarter of 2021.The Company expects that, due to the delays noted above, steady state production of 5,000 tons of ore per day will be deferred from mid year into the third quarter of 2021. “We are pleased with the continued improvements of the milling operations and the peak hoisting numbers achieved this month,” stated Mike Ciricillo, CEO of Nevada Copper. “We look forward to completing upgrades to the Main Shaft in the coming weeks and the resulting increases in hoisting and production.” Financial Update The Company recently executed and closed the credit facility previously announced on December 9, 2020 (the “Credit Facility”), which allows for $15 million to be drawn subject to certain conditions. In addition, the lender has confirmed its intention to make the accordion feature available to the Company as required, which will expand the size of the Credit Facility by $15 million.The project delays highlighted above will reduce copper sales compared to the Company’s plan for the first half of 2021. The Company intends to address the resulting additional cash needs to advance the ramp-up through the utilization of its cash on hand, the working capital facility, the $5 million of dedicated cost overrun funds, and borrowings under the Credit Facility. Contractors Settlement The Company’s wholly-owned subsidiary, Nevada Copper, Inc., has settled its legacy disputes with its contractors, Cementation USA Inc. and Sedgman USA Inc. Pursuant to the settlements, the Company has paid $1 million and issued $2 million in common shares and will make $14 million of cash payments via instalments beginning in September 2021. In addition, the Company may be required to issue up to an additional $2 million in common shares if certain performance measures are achieved.These settlements result in an improvement of the Company’s working capital position by $16 million, including a reduction in amounts payable by $4.7 million from what was previously projected. The Company also received the return of cash from the release of its litigation bond. There can be no assurance that the actual costs to complete the ramp-up will not be greater than expected by the Company. In the event of further cost overruns, the Company will need to seek additional funding. The Company continues to advance its medium and longer-term mine planning analysis, including related costs and timing implications. Qualified Persons The information and data in this news release was reviewed by Greg French, C.P.G., and David Sabourin, P.E, for 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.www.nevadacopper.com Mike Ciricillo, President and CEO For further information contact:Rich Matthews, Investor RelationsIntegrous Communicationsrmatthews@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 operational matters and mine development plans, production and ramp-up plans and the expected costs, timing, results and funding thereof. Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements or information are subject to known or unknown risks, uncertainties and other factors which may cause the actual results and events to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to: the ability of the Company to complete the ramp-up of the Underground Project within the expected cost estimates and timeframe; requirements for additional capital and no assurance can be given regarding the availability thereof; the impact of COVID-19 on the business and operations of the Company; the state of financial markets; history of losses; dilution; adverse events relating to milling operations, construction, development and ramp-up, including the ability of the Company to address underground development and process plant issues; ground conditions; cost overruns relating to development, construction and ramp-up of the Underground Project; loss of material properties; interest rates increase; global economy; limited history of production; future metals price fluctuations; speculative nature of exploration activities; periodic interruptions to exploration, development and mining activities; environmental hazards and liability; industrial accidents; failure of processing and mining equipment to perform as expected; labor disputes; supply problems; uncertainty of production and cost estimates; the interpretation of drill results and the estimation of mineral resources and reserves; changes in project parameters as plans continue to be refined; possible variations in ore reserves, grade of mineralization or recovery rates from management’s expectations and the difference may be material; legal and regulatory proceedings and community actions; the outcome of disputes with the Company’s contractors; accidents; title matters; regulatory approvals and restrictions; increased costs and physical risks relating to climate change, including extreme weather events, and new or revised regulations relating to climate change; permitting and licensing; volatility of the market price of the Company’s common shares; insurance; competition; hedging activities; currency fluctuations; loss of key employees; other risks of the mining industry as well as those risks discussed in the Company’s Management’s Discussion and Analysis in respect of the year ended December 31, 2019 and in the section entitled “Risk Factors” in the Company’s Annual Information Form dated May 15, 2020. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. The forward-looking information and statements are stated as of the date hereof. The Company disclaims any intent or obligation to update forward-looking statements or information except as required by law. The Company 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. Accordingly, readers should not place undue reliance on forward-looking statements and information.

  • Nevada Copper Announces Closing of Its Bought Deal Offering Including Full Exercise of Over-Allotment Option
    GlobeNewswire

    Nevada Copper Announces Closing of Its Bought Deal Offering Including Full Exercise of Over-Allotment Option

    NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES All amounts herein are in Canadian Dollars unless otherwise indicated. YERINGTON, Nev., Jan. 29, 2021 (GLOBE NEWSWIRE) -- Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company”) is pleased to announce that it has completed its previously announced public offering of units of the Company (the “Units”), which included the exercise in full of the over-allotment option (the “Over-Allotment Option”) by the underwriters, which was comprised of syndicate that included Scotiabank, Jett Capital Advisers, RBC Capital Markets, Haywood Securities Inc., Laurentian Bank Securities Inc., National Bank Financial Inc. and Mackie Research Capital Corporation. The Company issued 230,000,000 Units, including 30,000,000 Units pursuant the Over-Allotment Option, at a price of $0.165 per Unit (the “Offering Price”) for aggregate gross proceeds of approximately $38 million (the “Offering”). Each Unit consists of one common share of the Company (each a “Common Share”) and one-half of one Common Share purchase warrant (each full warrant, a “Warrant”). Each Warrant is exercisable for one Common Share (each a “Warrant Share”) at a price of $0.22 per Warrant Share until July 29, 2022. Concurrently with the closing of the Offering, the Company completed its previously announced private placement of 79,696,970 Units to Pala Investments Limited (“Pala”), the Company’s largest shareholder, at the Offering Price (the “Concurrent Private Placement”). The subscription under the Concurrent Private Placement was satisfied by Pala tendering certain indebtedness owed by the Company to Pala. As previously announced, Pala has agreed to provide a new credit facility to the Company (the “Credit Facility”), which is expected to be entered into in the coming weeks. Upon entry of the Credit Facility, US$15 million will be available to be newly drawn by the Company. This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. 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.www.nevadacopper.com Mike Ciricillo, President and CEO For further information contact:Rich Matthews, Investor RelationsIntegrous Communicationsrmatthews@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 the entering into of the Credit Facility and the timing in respect thereof. Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements or information are subject to known or unknown risks, uncertainties and other factors which may cause the actual results and events to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to: the ability of the Company to complete the ramp-up of the Pumpkin Hollow Underground Project within the expected cost estimates and timeframe; the state of financial markets; the impact of COVID-19 on the business and operations of the Company; history of losses; requirements for additional capital and no assurance can be given regarding the availability thereof; dilution; adverse events relating to milling operations, construction, development and ramp-up, including the ability of the Company to address underground development and process plant issues; ground conditions; cost overruns relating to development, construction and ramp-up of the Pumpkin Hollow Underground Project; loss of material properties; interest rates increase; global economy; limited history of production; future metals price fluctuations; speculative nature of exploration activities; periodic interruptions to exploration, development and mining activities; environmental hazards and liability; industrial accidents; failure of processing and mining equipment to perform as expected; labor disputes; supply problems; uncertainty of production and cost estimates; the interpretation of drill results and the estimation of mineral resources and reserves; changes in project parameters as plans continue to be refined; possible variations in ore reserves, grade of mineralization or recovery rates from management’s expectations and the difference may be material; legal and regulatory proceedings and community actions; the outcome of disputes with the Company’s contractors; accidents; title matters; regulatory approvals and restrictions; increased costs and physical risks relating to climate change, including extreme weather events, and new or revised regulations relating to climate change; permitting and licensing; volatility of the market price of the Common Shares; insurance; competition; hedging activities; currency fluctuations; loss of key employees; other risks of the mining industry as well as those risks discussed in the Company’s Management’s Discussion and Analysis in respect of the year ended December 31, 2019 and in the section entitled “Risk Factors” in the Company’s Annual Information Form dated May 15, 2020. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. The forward-looking information and statements are stated as of the date hereof. The Company disclaims any intent or obligation to update forward-looking statements or information except as required by law. The Company 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. Accordingly, readers should not place undue reliance on forward-looking statements and information.