Nevada Copper (NCU.TO) is already trading higher after our bottomfish-recommendation yesterday as the company announced today it received the air pollution control permit which will allow Nevada Copper to quickly advance the large open pit at the Pumpkin Hollow project as the project is deemed to be a ‘minor’ source of pollution, despite an expected daily throughput of 70,000 tonnes per day. We would have been surprised if Nevada Copper would NOT have received this permit, but it’s obviously always a nice to get official confirmation.
The next permit will probably be approved in the next few days as no objections or comments have been received with regards to the reclamation permit, the last state permit needed before developing the asset.
Nevada Copper has also bought some more time as its main shareholder Pala Investments has agreed to extend and increase the bridge loan. The maximal amount of the loan is now $25M, and the bridge loan will now mature on January 31st, 2016.
> Click here to go to Nevada Copper’s website
Disclosure: The author holds a long position in Nevada Copper. Nevada Copper is a sponsor of the website. Please see our disclaimer for current positions.
