NEVDF - Activist Investor Offers Support To Bankrupt Nevada Copper: ' | Benzinga
Canadian miner Nevada Copper (OTC:NEVDF) filed for Chapter 11 bankruptcy on Monday despite soaring copper prices.
The company, burdened by operational setbacks and financing challenges, has secured a commitment from Elliott Investment Management, an activist investor with a strong interest in the sector.
Nevada Copper’s financial struggles stem from a series of costly operational issues at its flagship Pumpkin Hollow project. This project, situated southeast of Yerington, Nevada, includes underground and open-pit operations with proven and probable reserves (as of 2019) of 3,590Mlb of copper, 21,266koz of gold, and 617oz of silver.
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However, a buildup of ...