RBC Capital Markets cuts PT for miner Nevada Copper

Nevada Copper

02/09/2021 13:57

** RBC Capital Markets trims miner Nevada Copper Corp's
 NCU.TO  PT to C$0.25 from C$0.50, citing infrastructure delays
at its underground mine and uncertainty around management change
    ** Brokerage says until a new CEO is announced and some
additional technical bench strength is added, this leaves
uncertainty in the near term
    ** Co provided update on operations at the underground mine
at its Pumpkin Hollow project on Monday  urn:newsml:reuters.com:*:nGNX6qZZ7
    ** Brokerage says progress on the underground ramp up
remains behind schedule as a number of unforeseen issues have
delayed the construction of key infrastructure
    ** A water bearing dike has created challenging ground
conditions in developing underground-RBC
    ** Out of four analysts covering the stock, three rate NCU
"hold" and one "buy"
    ** Stock down ~37% YTD, as of last close 

 (Reporting by Rithika Krishna in Bengaluru)
 ((Rithika.Krishna@thomsonreuters.com;))