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nevado resources corp (VDO) Snapshot

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nevado resources corp (VDO) Details

Nevado Resources Corporation, a junior strategic metals company, engages in acquiring, exploring, evaluating, and developing mining properties in Canada. It primarily holds 100% interest in the La Blache (titanium-vanadium-iron) and Fermont (graphite-iron) projects consisting of 827 mining claims covering a total area of 44,340 hectares located in Quebec. The company was formerly known as Nevado Venture Capital Corporation and changed its name to Nevado Resources Corporation in August 2010. Nevado Resources Corporation was incorporated in 2006 and is headquartered in Montréal, Canada.

Founded in 2006

nevado resources corp (VDO) Top Compensated Officers

Chief Executive Officer, President, Secretary...
Total Annual Compensation: --
Chief Financial Officer and Director
Total Annual Compensation: --
Compensation as of Fiscal Year 2013.

nevado resources corp (VDO) Key Developments

Nevado Resources Corporation Signs Binding Letter of Intent with Neomet Technologies Inc. to Form a Joint Venture

Nevado Resources Corporation announced that it has signed a binding letter of intent with Neomet Technologies Inc. to form a Joint Venture ("JV"). The purpose of the JV is to finalize the demonstration of the flow sheet established in Neomet's mini-plant at a much larger scale up using a pilot-plant at Neomet facilities with the final objective to complete a feasibility study to develop Nevado's wholly-owned La Blache property or similar properties into production on a Nevado 70% - Neomet 30% joint venture basis. The JV will have the exclusive right to use Neomet's proprietary, patent pending technology on acid regeneration to recover metals from similar types of minerals in Quebec, Ontario and Newfoundland and Labrador, or other regions within North America as may be agreed from time to time by the parties of the JV. The letter of intent provides for Nevado's initial contribution to consist of its La Blache property rights, and Neomet's contribution to be an exclusive royalty-free license in Quebec, Ontario, Newfoundland and Labrador for the duration of the JV allowing Nevado to use the technology to develop the La Blache property through to production of Ti-V-Fe minerals and any by-product of value which may be derived, including exclusive rights in Quebec, Ontario, Newfoundland and Labrador to any inventions or improvements made to the technology. Pilot plant stage: Within 90 days of the later of the signing of the letter of intent and August 31, 2014, Nevado must raise a minimum of $2 million to fund pilot plant (approximately 100 times scale up to mini-plant run) testing of the La Blache minerals, and an additional $1 million to carry out a Preliminary Economic Assessment (PEA), initiate Impact Benefit Agreement discussions with the Innu, carry out environmental data base studies and drill to convert sufficient resources to the Measured and Indicated category to allow a final feasibility study to be initiated should the parties so decide after completing the PEA. Subject to TSX rules, Neomet will have the right to subscribe to up to 10% of Nevado's equity upon signature of the JV agreement. Engineering feasibility decision stage: Nevado will raise an estimate $5 to $10 million to carry out a detail engineering feasibility which meets banking consortium requirements for debt financing. Neomet will ensure availability of all the key scientific and technical personnel, if required, for the feasibility study and the commissioning of the commercial plant. Neomet will also have the right to subscribe to the number of shares required to maintain its 10% equity participation in Nevado. Production decision stage: Nevado and Neomet will be responsible for raising their proportional share of the JV (70/30) for the financing required for project construction and commissioning.

Nevado Resources Corporation, Annual General Meeting, Jul 07, 2014

Nevado Resources Corporation, Annual General Meeting, Jul 07, 2014., at 10:00 US Eastern Standard Time. Location: Sheraton Laval, 2440. Agenda: To receive the audited financial statements of the corporation for the period ended December 31, 2013, as well as the auditors' report for the same period; to proceed with the election of the Directors of the corporation; to appoint the auditors of the corporation and authorize the Directors to fix their remuneration; to approve the Stock Option Plan of the corporation; and to transact such other business as may properly come before the meeting or any adjournment thereof.

Nevado Resources Corporation Auditor Raises 'Going Concern' Doubt

Nevado Resources Corporation filed its Annual on Apr 30, 2014 for the period ending Dec 31, 2013. In this report its auditor, PricewaterhouseCoopers LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.


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