The mining newspaper for Alaska and Canada's North

Mining Explorers 2015: NovaCopper seizes opportunity

Arctic explorer funds pre-feasibility work with buyout of fellow junior

When NovaCopper Inc. needed additional funds to advance its copper-rich deposits in the Ambler Mining District of Northwest Alaska, the Vancouver B.C.-based junior bypassed typical financing vehicles for such ventures and seized the opportunity to buy Sunward Resources Ltd., a fellow exploration company with roughly US$20 million in the bank but a market cap hovering around US$13 million.

"The mar...

 

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