Brief: Nevada Copper Announces Planned Substantial Balance Sheet Strengthening

Nevada Copper

19/03/2020 03:09

March 18 (Reuters) - Nevada Copper Corp  NCU.TO :
    * NEVADA COPPER ANNOUNCES PLANNED SUBSTANTIAL BALANCE SHEET
STRENGTHENING, PROVIDES UPDATE ON PROGRESS OF PUMPKIN HOLLOW
UNDERGROUND MINE PRODUCTION RAMP-UP
    * WORKING WITH ITS FINANCING PARTNERS IN AN EFFORT TO REACH
BINDING AGREEMENTS WITHIN NEXT TWO WEEKS
    * CONCENTRATE PRODUCTION AND SALES VOLUMES ARE EXPECTED TO
CONTINUE TO RAMP-UP DURING H1 2020.
    * NOT POSSIBLE FOR CO TO PREDICT THE IMPACT ON ITS
OPERATIONS AT
THIS TIME
    * WORK IS CONTINUING ON SITE AS NORMAL, SUBJECT TO ENHANCED
PRECAUTIONS
    * NEVADA COPPER -  POSSIBLE THAT REDUCED WORKING RATES OR
TEMPORARY STOPPAGES COULD OCCUR IN THE FUTURE DEPENDING ON HOW
EVENTS UNFOLD
    * NEVADA - COMPANY WILL REDUCE ITS EXPLORATION ACTIVITIES
AND
PRIORITIZE ADVANCING ITS HIGH-PRIORITY TARGETS IN ACCORDANCE
WITH CASH AVAILABILITY
    * NEVADA COPPER - BALANCE SHEET STRENGTHENING PACKAGE
COMPRISES
COMBINATION OF MEASURES EXPECTED TO SIGNIFICANTLY IMPROVE THE
LIQUIDITY PROFILE OF CO
    * PROPOSED BALANCE SHEET STRENGTHENING PACKAGE CONSISTS OF
$35
MILLION ROYALTY AND STREAM FINANCING WITH TRIPLE FLAG
    * PROPOSED BALANCE SHEET STRENGTHENING PACKAGE ALSO CONSISTS
OF
$30 MILLION CREDIT FACILITY REFINANCING

Source text for Eikon:  ID:nGNX28Tpps 
Further company coverage:  NCU.TO 

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