Yerington, NV – July 6, 2020 – Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company’’) is pleased to the announce the appointment of André van Niekerk as Chief Financial Officer, effective July 13, 2020.
Mr. Van Niekerk was previously the CFO of Golden Star Resources where he oversaw the commissioning and ramp-up of multiple new mining operations, in addition to the upgrade of company-wide ERP and management reporting and control systems during his 14-year tenure. Mr. van Niekerk has extensive capital market experience and was responsible for financing the development of the two underground mines and the continuous optimization of the company’s balance sheet. Previously he held senior positions with KPMG.
The arrival of Mr. van Niekerk is part of the build-out and strengthening of the Nevada Copper team, following the recent appointments of Evan Spencer as Chief Executive Officer and Kalidas Madhavpeddi as Technical Advisor. These senior appointments, in addition to a range of additions to the team across key disciplines including technical services, planning and finance further strengthen the team as the Company prepares for the restart of production at Pumpkin Hollow as previously announced on July 3, 2020.
The Company expects start-up of milling operations next month, with a short ramp-up to full production capacity in Q4. Pumpkin Hollow previously commenced ramp-up of operations in Q1 2020, and benefits from a period of accelerated mine development during Q2 2020, resulting in a materially de-risked path to full scale production over the coming months.
Evan Spencer, Chief Executive Officer of Nevada Copper, stated: “We are very pleased to welcome André to the Nevada Copper team as we prepare to commission the Main Shaft and plan to restart production at Pumpkin Hollow. André will strengthen and complement our team as we further develop and grow our business. His experience is particularly valuable as we seek to drive efficiencies at our producing underground mine, and further in the future begin to prepare for project financing of our permitted large-scale open pit project. We wish to thank Braam Jonker for his dedication and contributions to Nevada Copper as Chief Financial Officer over the last two years.”
The Company’s planned restart of production and ramp-up timeline as outlined above are subject to revision based on impacts of the COVID-19 pandemic and other factors.
About Nevada Copper
Nevada Copper (TSX: NCU) is a copper producer and owner of the Pumpkin Hollow copper project. 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 underground mine and processing facility, which is now in the production stage, and a large-scale open pit project, which is advancing towards feasibility status.
NEVADA COPPER CORP.
Evan Spencer, President and CEO
For further information contact:
Rich Matthews, Investor Relations
+1 604 355 7179
This news release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts are forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements that relate to mine development and ramp-up plans and the expected results thereof and the timing of expected restart of concentrate production, and plans in respect thereof.
Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements or information are subject to known or unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information.
Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to: the state of financial markets; regulatory approvals; the impact of COVID-19 on the business and operations of the Company; history of losses; requirements for additional capital; dilution; adverse events relating to construction, development and ramp-up, including the ability of the Company to address underground development and process plant issues; ground conditions; cost overruns relating to development, completion and ramp-up of the Pumpkin Hollow Underground Mine; loss of material properties; interest rates increase; global economy; no history of production; future metals price fluctuations and the continuation of the current low copper price environment; speculative nature of exploration activities; periodic interruptions to exploration, development and mining activities; environmental hazards and liability; industrial accidents; failure of processing and mining equipment to perform as expected; labor disputes; supply problems; uncertainty of production and cost estimates; the interpretation of drill results and the estimation of mineral resources and reserves; changes in project parameters as plans continue to be refined; possible variations in ore reserves, grade of mineralization or recovery rates may differ from what is indicated and the difference may be material; legal and regulatory proceedings and community actions; the outcome of disputes with the Company’s contractors; accidents; title matters; regulatory restrictions; increased costs and physical risks relating to climate change, including extreme weather events, and new or revised regulations relating to climate change; permitting and licensing; volatility of the market price of the Company’s common shares; insurance; competition; hedging activities; currency fluctuations; loss of key employees; other risks of the mining industry as well as those risks discussed in the Company’s Management’s Discussion and Analysis in respect of the year ended December 31, 2019 and in the section entitled “Risk Factors” in the Company’s Annual Information Form dated May 15, 2020. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. The forward-information and statements are stated as of the date hereof. The Company disclaims any intent or obligation to update forward-looking statements or information except as required by law.
The Company provides no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.