The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Marketwire

Nevada Copper Receives Additional US$15 Million Under Its US$200 Million Senior Secured Loan Facility

Wednesday, October 09, 2013

Nevada Copper Receives Additional US$15 Million Under Its US$200 Million Senior Secured Loan Facility

14:23 EDT Wednesday, October 09, 2013

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 9, 2013) - Nevada Copper Corp. (TSX:NCU) ("Nevada Copper" or "Company") is pleased to announce it has received a second tranche of US$15 million pursuant to the US$200 million senior secured loan facility and copper concentrate off-take agreement (see March 28, 2013 News Release). This facility is between Nevada Copper and a special purpose vehicle that is jointly owned by Orion Resource Partners and RK Mine Finance.

The advance of US$15 million was predicated upon receipt of the key State and County permits which are now in hand (see September 9, 2013 News Release) and allows for the continuation of construction of the Stage 1 underground mining operation at its 100%-owned Pumpkin Hollow copper project located near Yerington, Nevada. Receipt of these funds brings the Company's cash position to approximately US$60 million.

A total of US$51 million has been received from this facility with a further US$149 million to be received in early Q3-2014 on the completion of certain other project milestones, including completion of the 24 foot diameter, 2,140 foot deep production-sized shaft.


Giulio T. Bonifacio, President & CEO

Cautionary Language: We seek safe harbor.


Contact Information:
Nevada Copper Corp.
Eugene Toffolo
VP, Investor Relations & Communications
604-683-8266 or Toll free: 1-877-648-8266

Nevada Copper Corp.
Robert McKnight, P.Eng., MBA
Executive Vice President & CFO

  • The Globe and Mail Newspaper

    Newspaper delivered to your doorstep. subscribe

  • Globe Unlimited

    Digital all access pass across devices. subscribe

  • The Globe and Mail App

    The New Globe and Mail App for iPhone®, iPad® and Apple Watch download

  • Globe2Go

    The digital replica of our newspaper. subscribe

  • Globe eBooks

    A collection of articles by the Globe. subscribe

See all Globe Products

Advertise with us

Your number one partner for reaching Canada's Influential Achievers. learn more

The Globe at your Workplace
Our Company
Secure Service
Customer Service
Advertising Privacy
Globe Recognition
Mobile Apps
Other Sections