Pumpkin Hollow still under COVID-19 suspension, but ready for quick ramp up

Artemis all set thanks to unique approach

artemis resources

Spencer has had senior roles with Western Mining Corporation, Placer Dome, Barrick Gold, Kagara, Gold Fields and Aditya Birla Minerals, and also oversaw the ramp-up and production of the Ban Phuc nickel mine.

"[Spencer's] substantial experience of transitioning projects from ramp-up to commercial production and driving ongoing operating efficiencies will be highly valued as Nevada Copper continues its progress through the next stage of its growth as an emerging US copper producer," said Neveda Copper chairman Stephen Gill.

Artemis all set thanks to unique approach

artemis resources

COVID-19 has put the brakes on Pumpkin Hollow's since April 6, a time when it was said to be getting into stride following the production start late last year.

Management say the downtime has been put to good use, with work done to complete the main shaft and advance underground lateral development, which they say will boost production and help de-risk Pumpkin Hollow's ramp-up when the mill is switched on again.

Critical processing staff remain either on site or available to return to site, and the concentrator is in a restart-ready condition.

Nevada Copper says its cash burn has been reduced and it has received support from its key suppliers, providing cost reductions and flexibility during this period.

The company's offtake partner, Concord Resources, agreed to defer concentrate deliveries.

Following ramp-up, the underground mine is expected to produce 65 million pounds copper-equivalent per annum over 13.5 years, at all-in sustaining cost of US$1.86/lb.

Shares in the company (TSX: NCU) have dipped by 65% since the start of the year, hitting a 12-month low of C14c Friday. It has a market capitalisation of $107 million (US$77 million).