Nevada Copper Corp. (TSX: NCU) announced this morning a series of company updates including the recent completion of the previously announced consolidation of its common shares. The copper producer is expected to begin trading today on a post-consolidation basis.
Through the share consolidation ratio of one post-consolidation share for every 10 pre-consolidation shares, the company’s outstanding common shares are reduced to 185,063,560 from approximately 1,850,635,602 shares. Outstanding share purchase warrants will also be consolidated at the same ratio of 10 warrants for one post-consolidation share.
The copper firm also relayed the updates that it has completed mining from the second stope at its Pumpkin Hollow project and has started blasting of the third stope. Further, ore from stope mining averaging approximately 1.5% copper grade is being delivered to the company’s mill with recoveries as planned.
The Nevada-focused mining company reported its Q2 2021 financials in August 2021, highlighting a quarterly revenue of US$14.1 million.
Nevada Copper last traded at $0.07 on the TSX.
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