Nevada Copper Announces Strengthening of Senior Management Team With the Appointment of Andre van Niekerk as Chief Financial ...
July 06 2020 - 12:00AM
Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company’’)
is pleased to the announce the appointment of André van Niekerk as
Chief Financial Officer, effective July 13, 2020.
Mr. van Niekerk was previously the CFO of Golden
Star Resources where he oversaw the commissioning and ramp-up of
multiple new mining operations, in addition to the upgrade of
company-wide ERP and management reporting and control systems
during his 14-year tenure. Mr. van Niekerk has extensive capital
market experience and was responsible for financing the development
of the two underground mines and the continuous optimization of the
company’s balance sheet. Previously he held senior positions with
KPMG.
The arrival of Mr. van Niekerk is part of the
build-out and strengthening of the Nevada Copper team, following
the recent appointments of Evan Spencer as Chief Executive Officer
and Kalidas Madhavpeddi as Technical Advisor. These senior
appointments, in addition to a range of additions to the team
across key disciplines including technical services, planning and
finance further strengthen the team as the Company prepares for the
restart of production at Pumpkin Hollow as previously announced on
July 3, 2020.
The Company expects start-up of milling
operations next month, with a short ramp-up to full production
capacity in Q4. Pumpkin Hollow previously commenced ramp-up of
operations in Q1 2020, and benefits from a period of accelerated
mine development during Q2 2020, resulting in a materially
de-risked path to full scale production over the coming months.
Evan Spencer, Chief Executive Officer of Nevada Copper, stated:
“We are very pleased to welcome André to the Nevada Copper team as
we prepare to commission the Main Shaft and plan to restart
production at Pumpkin Hollow. André will strengthen and complement
our team as we further develop and grow our business. His
experience is particularly valuable as we seek to drive
efficiencies at our producing underground mine, and further in the
future begin to prepare for project financing of our permitted
large-scale open pit project. We wish to thank Braam Jonker for his
dedication and contributions to Nevada Copper as Chief Financial
Officer over the last two years.”
The Company’s planned restart of production and
ramp-up timeline as outlined above are subject to revision based on
impacts of the COVID-19 pandemic and other factors.
About Nevada Copper
Nevada Copper (TSX: NCU) is a copper producer
and owner of the Pumpkin Hollow copper project. Located in Nevada,
USA, Pumpkin Hollow has substantial reserves and resources
including copper, gold and silver. Its two fully permitted projects
include the high-grade underground mine and processing facility,
which is now in the production stage, and a large-scale open pit
project, which is advancing towards feasibility status.
NEVADA COPPER CORP.www.nevadacopper.com
Evan Spencer, President and CEO
For further information contact:Rich Matthews,
Investor RelationsIntegrous Communicationsrmatthews@integcom.us+1
604 355 7179
Cautionary Language
This news release includes certain statements
and information that constitute forward-looking information within
the meaning of applicable Canadian securities laws. All statements
in this news release, other than statements of historical facts are
forward-looking statements. Such forward-looking statements and
forward-looking information specifically include, but are not
limited to, statements that relate to mine development and ramp-up
plans and the expected results thereof and the timing of expected
restart of concentrate production, and plans in respect
thereof.
Often, but not always, forward-looking
statements and forward-looking information can be identified by the
use of words such as “plans”, “expects”, “potential”, “is
expected”, “anticipated”, “is targeted”, “budget”, “scheduled”,
“estimates”, “forecasts”, “intends”, “anticipates”, or “believes”
or the negatives thereof or variations of such words and phrases or
statements that certain actions, events or results “may”, “could”,
“would”, “might” or “will” be taken, occur or be achieved.
Forward-looking statements or information are subject to known or
unknown risks, uncertainties and other factors which may cause the
actual results to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements or information.
Forward-looking statements or information are
subject to a variety of risks and uncertainties which could cause
actual events or results to differ from those reflected in the
forward-looking statements or information, including, without
limitation, risks and uncertainties relating to: the state of
financial markets; regulatory approvals; the impact of COVID-19 on
the business and operations of the Company; history of losses;
requirements for additional capital; dilution; adverse events
relating to construction, development and ramp-up, including the
ability of the Company to address underground development and
process plant issues; ground conditions; cost overruns relating to
development, completion and ramp-up of the Pumpkin Hollow
Underground Mine; loss of material properties; interest rates
increase; global economy; no history of production; future metals
price fluctuations and the continuation of the current low copper
price environment; speculative nature of exploration activities;
periodic interruptions to exploration, development and mining
activities; environmental hazards and liability; industrial
accidents; failure of processing and mining equipment to perform as
expected; labor disputes; supply problems; uncertainty of
production and cost estimates; the interpretation of drill results
and the estimation of mineral resources and reserves; changes in
project parameters as plans continue to be refined; possible
variations in ore reserves, grade of mineralization or recovery
rates may differ from what is indicated and the difference may be
material; legal and regulatory proceedings and community actions;
the outcome of disputes with the Company’s contractors; accidents;
title matters; regulatory restrictions; increased costs and
physical risks relating to climate change, including extreme
weather events, and new or revised regulations relating to climate
change; permitting and licensing; volatility of the market price of
the Company’s common shares; insurance; competition; hedging
activities; currency fluctuations; loss of key employees; other
risks of the mining industry as well as those risks discussed in
the Company’s Management’s Discussion and Analysis in respect of
the year ended December 31, 2019 and in the section entitled “Risk
Factors” in the Company’s Annual Information Form dated May 15,
2020. Should one or more of these risks and uncertainties
materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those described in
forward-looking statements or information. The forward-information
and statements are stated as of the date hereof. The Company
disclaims any intent or obligation to update forward-looking
statements or information except as required by law.
The Company provides no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements.
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