It took the company a few months to find a replacement for Giulio Bonifacio, but Nevada Copper (NCU.TO) has now announced Matthew Gili has been appointed as new CEO of the company, starting on May 1st.
Gili might not be very well known, but his credentials appear to be very strong. He’s coming over from Barrick Gold (ABX, ABX.TO) where he was the Executive General Manager for the Cortez district in Nevada (which is Barrick Gold’s real money maker), after having worked for Rio Tinto (RIO, RIO.L) for 15 years. As an engineer with a sufficient amount of hands-on development experience, Gili appears to fit the profile we would have expected Nevada Copper to hire.
Although the company’s share price has been lagging behind its peers and despite the ballooning share count after having converted debt into new shares, we still believe there’s Nevada Copper is undervalued at the current copper prices. It’s now up to Gili to try to regain the trust from the financial markets, and we will undoubtedly see an updated development plan pretty soon. On top of that, we are also expecting Nevada Copper to publish more exploration results (from the open pit drill program) within the next few weeks as well.
Keep in mind the Pumpkin Hollow project is fully permitted and thus ‘ready to go’, whether NCU develops Pumpkin Hollow by itself, or if someone wants to buy the whole company to get its hands on a multi-billion pound copper resource in Nevada.