Nevada Copper Corp. Aktie

Operational and geotechnical challenges encountered at the Underground Mine resulted in a delay in stope mining and reduced concentrate production during the six months ended June 30, 2022. Further, increased costs during the six months ended June 30, 2022 in light of geotechnical challenges and unforeseen issues and delays resulted in higher than budgeted net cash outflows. Due to the technical issues described above, as well as liquidity constraints, the Company's development and mining activities were reduced during the month of June 2022. Subsequent to the end of the second quarter, due to liquidity constraints, the Company took measures to significant reduce underground mine site and operation expenditures, with only limited operational activities being undertaken to protect the Company's assets. This temporary suspension of mining activities is expected to continue until the Company is able to obtain a long-term restart funding package. During the temporary suspension, the Company has advanced its Underground Mine restart plans, which focus on the acceleration of key capital items followed by the development of a significant stope ore inventory in advance of a mill restart and completion of production ramp-up. The commencement of restart activities is contingent on the Company obtaining long-term financing. There can be no assurance that a restart funding package will be completed on terms satisfactory to the Company and within the required timeframe, or at all. If a restart funding package is not completed, absent other financing, the Company will not be able to continue carrying on business in the ordinary course and may need to pursue proceedings for creditor protection.