The US Bankruptcy Court approved the amended plan of liquidation of Nevada Copper, Inc on April 18, 2025. The debtor has filed its amended plan in the Court on February 28, 2025. As per the amended plan, administrative claims, U.S. trustee fees, professional fee claims, Canadian fee claims, priority tax claims, other senior secured claims of $0.59 million, and other priority claims of $1.46 million shall be paid in full in cash.

M&M lien claims, other junior lien claims against all debtors other than NCI, and other junior lien claims against NCI are of $0. Term loan tranche A/B claims of $99.48 million shall receive all distributable cash in the debtors? possession on the effective date, and on each subsequent distribution date. Term loan tranche A-2 claims of $42.33 million, TF stream agreement claims of $82.21 million, junior term loan claims of $10.78 million, general unsecured claims against all debtors other than NCI of $4.32 million and supporting party general unsecured claims against all debtors of $84.42 million will not receive any distribution under the plan.

General unsecured claims against NCI of $26 million shall receive pro rata distribution of the general unsecured cash pool, provided that for purposes of such treatment, the pro rata share shall be calculated on an aggregate basis including any allowed deficiency claims arising out of any other junior lien claims against NCI. Intercompany claims of $148.3 million shall be eliminated, and holders of intercompany claims shall not receive or retain any property under the plan on account of such intercompany claims. Interests in NCU shall be eliminated, and holders of interests shall not receive or retain any property under the plan on account of such interests. Interests in debtors other than NCU shall be canceled and eliminated, and holders of interests shall not receive or retain any property under the plan on account of such interests.

The plan shall be funded through cash on hand as of the effective date and, thereafter, and to the extent applicable, distributable cash.