Nevada Copper’s (NCU.TO) share price action should be watched closely this week as the company has announced the land bill has been added to the National Defense Authorization Act (‘NDAA’) which will be voted on as early as this week. It’s important to know that the NDAA has passed the congress for 51 years in a row now, so the odds are definitely in Nevada Copper’s favor to see the land bill being passed as attachment to the NDAA.
After both the House and Senate will have approved the bill, the president is expected to sign it shortly thereafter, where after the Bureau of Land Management has roughly six months to complete the transfer. As a reminder, this land bill will allow the State to decide about the permits for the second phase of the Pumpkin Hollow copper project and this will shorten the permitting time line by approximately two years. This could be very important as this will pave the way for Nevada Copper to initiate discussions with strategic partners for the second phase. We are expecting Nevada Copper to sell a minority stake in the project for a cash payment and a proposal to fund the capital expenditures of Phase II.
Passing the land bill will remove a lot of uncertainty which was surrounding Nevada Copper lately, and as we explained in our most recent report, the only remaining issue will be the funding the remaining part of the capital expenditures of the underground zone of the Pumpkin Hollow project.
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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.
