NovaCopper Has $14.7 Million in Cash at Q1 2016; Sufficient Working Capital for Next Two Years

NovaCopper (NYSEMKT:NCQ;TSX:NCQ) released its financial results for the first quarter ended Feb. 29, 2016, and is reviewing its plan for the 2016 field program.
As quoted in the press release:

Plans Initiated for 2016 Field Program
With sufficient cash on hand to fund our anticipated activities, the Company is well positioned to continue its plans to advance the Arctic deposit towards pre-feasibility. The Company will invest $5.5 million this year mainly for drilling at Arctic during the summer field season as well as to complete in-pit geotechnical, hydrological, metallurgical, environmental and waste rock characterization studies. The Company will also continue community engagement and its efforts on local hiring and education along with continuing to engage with the State of Alaska on the permitting of the Ambler access road.
Plans are underway to begin this year’s field program in June with the remote camp anticipated to open mid-month. A planned 3,000 meter drill program will start mid-June and continue until mid-August. A significant amount of environmental baseline investigation work is planned for the current year to collect data required for future permitting efforts. Environmental work in 2016 will include an aquatic survey, an archaeological review, a subsistence resource study, an avian and large mammal survey and further expansion and refinement of our wetlands delineation studies. Engineering activities during this year’s field season include pit slope stability studies, waste rock characterization, hydrological and metallurgical studies. We will also complete the LiDAR survey (airborne laser-light survey used for multi-discipline applications) initiated in 2015 that was unfinished due to poor weather conditions.

Connect with NovaCopper (NYSEMKT:NCQ;TSX:NCQ) to receive an Investor Presentation.