Nevada Copper Corp. (TSX: NCU) is pleased to announce the completion of the drawdown of the US$70 million deposit under the precious metals purchase and sale agreement dated December 21, 2017 among the Company, its wholly-owned subsidiary Nevada Copper, Inc. and Triple Flag Mining Finance Bermuda Ltd. This drawdown follows the Company’s previously announced decision to proceed with construction at its 100%-owned Pumpkin Hollow underground project in Nevada. The deposit will be used to fund construction and development costs in connection with the Pumpkin Hollow underground project.
About Nevada Copper
Nevada Copper’s Pumpkin Hollow project is the only major, shovel-ready and fully-permitted copper project in North America. 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 Pumpkin Hollow underground project which is in construction with a view to near-term commencement of copper production; and the Pumpkin Hollow open pit project, a large-scale copper deposit with substantial mineral reserves, and which is currently undergoing an optimization program to target a reduced-capex, staged-development approach.
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