Nevada Copper Corp (TSX:NCU, OTC:NEVDF) said it continues to make progress on restart and operational activities for its underground mine at the Pumpkin Hollow project in Nevada following the closing of the restart financing packaging that provides up to US$123 million of liquidity to the company.
The company said John Wood Group PLC has completed an optimized life-of-mine plan that focuses on accessing the larger, higher-grade stopes of the East North Zone to bring value forward in the mine life.
The optimized plan is being incorporated into Nevada Copper’s development and mine planning in preparation for the restart of mining operations.
READ: Nevada Copper closes financing package to support restart of its Pumpkin Hollow copper mine
Following the successful completion of the second dike crossing, the company said underground crews have transitioned to work on the final dike crossing, which is expected to be completed in early 2023.
Nevada Copper said it is in advanced stages of discussions with six mining contractors and it expects to award a contract for a development contract by the end of 2022.
Further, the miner said it has signed a letter of intent with an engineering firm to bring critical capital projects to completion, including the coarse ore bin, permanent dewatering system, vent shaft rehabilitation and surface fans.
It has also secured the remaining long-lead item for the coarse ore bin project, the underground jaw crusher, which is expected to be delivered in November 2022.
Board appointment
The company announced that Guillaume de Dardel, the head of Energy Transition Metals and part of the Energy Transition desk at Mercuria, will join its board of directors effective November 4, 2022.
Mercuria is a significant shareholder in Nevada Copper, the company noted.
Nevada Copper is a copper producer and owner of the Pumpkin Hollow copper project, which has substantial reserves and resources, including copper, gold and silver.
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