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Real-Time news about Copper Dev (London Stock Exchange): 0 recent articles
|bam bam rubble: The main shareholder here Mr Baybak is a Scientologist which as far as I can see
makes CDC the only Scientology play on AIM.
Mike Baybak who joined the Church in the 70s and is now a major donor is known
among the faithful for setting up an investor relation firm for Scientologists
to introduce the best growth stocks on the market. In this period he partnered
with Ken Gerbino who joined the Church at the same time and wrote a tipsheet.
Both were directors at 'Wall Street Ventures' which told the market it was the
owner of 35 tons of rare stamps worth one hundred million dollars and followed
it up by acquiring the world's largest collection of Arabian stamps worth more
than 3 times that amount. The share price topped $6 during the promotion stage.
It was later discovered that the stamps came from starter packs and free gifts
in breakfast cereals. Two years on the team managed to trade in the collection
back to the vendors in exchange for an exciting exploration tenement in Nevada.|
Whilst I would not particularly recommend this as an investment based on the two assets I do not think there is much downside in the current price. The company has cash of 4p. The market has more or less written off the assets. One is involved in a legal dispute which seems uneconomical anyway and the other is in the middle of a territorial dispute.
I bought these on the basis that the cash underpinned the share price and any news on the two mines represented potentially huge upside. I sold these the other day because I just don't think the management are bothered about the company. The language and tone in the RNS suggested they could not give a damn and had given up.
However, the worst I could realistically envisage for investors is that putting funds into this will simply sit there like the management and do absolutely nothing. A bit like owning premium bonds.|
|pilot48: CDC must do to have written off the investment and the share price has cratered.|
Not too sure to be honest. I saw it as a hopeful positive that someone has probably sold out and this could move on. I have seen alot of big sells at less than the share price elsewhere lately and the share price has moved up subsequently.
I am not sure how I feel about CDC at the moment. The biggest worry on my mind is that the management do not seem very pro-active or much good in fact. I will stick around and see what happens and hopefully see these lift off when least expected probably.|
|hugepants: At $750,000 per year they have 7 years of cash burn until cash reduces to the current share price. That's a pretty big safety net!|
|hedgehog 100: Hedgehog 100 4 Jun'13 - 21:42 - 989 of 1098 0 0 edit
" ... CDC's final results for 2012 are due by the end of June. Does anyone think that they may have been advised to take a prudent approach and make an impairment on Basay? ... "
At least the Basay impairment is now out of the way, so that worry will no longer be a weight on the share price.
With regard to the Hinoba-an Project, the territorial dispute is clearly adding to the perceived riskiness of the area:
"Despite the attractiveness of the Hinoba-an Project and the continuing strength of the prospects for long term copper prices, interest of Chinese mining companies in a trade sale or a joint venture has been tempered by the territorial dispute in the South China Sea between China and the Philippines."
That obviously wouldn't help any sale price, so CDC is better off waiting.
By way of comparison, in July last year Orsu Metals (OSU) got only about 3% of NPV from Gold Fields for its stake in the Talas Copper-Gold-Molybdenum joint venture project in Kazakhstan.
From an OSU thread:
"The 6Moz gold resource is part of the Copper-Gold-Molybdenum joint venture project, where Orsu works in partnership with Gold Fields and has a 40% stake. The Mineral Resource consists of an indicated resource of 127 Mt, comprising 2.6 Moz gold at 0.64 g/t, 477 Million lb copper at 0.17%, and 29.4 Mlb molybdenum at 0.01%, and an inferred resource of 296 Mt, comprised of 3.71 Moz gold at 0.4 g/t, 1,098 Mlb copper at 0.17%, and 69.2 Mlb molybdenum at 0.01%. Click here to see the recent Scoping Study, which estimated average annual production of more than 240,000 oz gold, 26,000t copper and 900t molybdenum could be carried out; and a pre-tax NPV of $815 million."
From OSU's 27.3.13 finals:
"In July 2012 the Company completed the Sale to Gold Fields (defined below) of its 40% interest in the Talas Project its principal exploration asset in Kyrgyzstan for a cash consideration of $10 million."
So far, I have tried countless attempts to get hold of the NOMAD and requested the information / whereabouts of the directors. Unfortunately, I have had no reply. I am now in touch with a friend of a friend, who works for the FSA. If the NOMAD chooses to ignore the request then I will be asking this person to launch a investigation in to the whereabouts of both the Directors and NOMADS. Furthermore, I will be visiting the offices of the NOMADS before this week is out. As shareholders, it is our right to get answers from the director we place our faith in to run the company with our money. CDC, it's directors and NOMAD, have failed to provide a response to the market in relation to the drop in share price from 50p - 2.75p in 18+ Months. Furthermore, the last RNS 4 Months ago only re-iterated what was stated 3 months prior. Its disgraceful that CDC has not really updated the market for 7+ Months.
Shareholders have rights. If any of you would like to take part in requesting this information/investigation, please get in touch with me on duxy786 at hotmail dot com.
P.S.: Ignore Jotoha2 he is nither a holder here of has the capital to buy any. He simply uses this board to boast about his other stocks or ramp them.|
|topinfo: CDC see the Broker price tgts before this issue with the licence. Risk/Reward here good as this could turn out to be the bargain of 2013 if they wort it out and its renewed etc. Worth a punt down here gotta be
And yes that £1.12p per share!!!!!!!!!!!!!! 35 bagger anyone?
Last Update: March 2012
We maintain the BUY recommendation with an increased target price of £1.16
share, formerly £1.02.
My view of positive & negative aspects of the company (completed March 2012)
- Strong cash position
- Only 220 million shares in issue
- Current market cap is quite low and share price is deflated
- Strong management with proven track record of developing and selling assets
- Looking to potentially sell or JV the Hinoba-an project, if they sell it my view is that it could fetch 200 US$ million, which is approximately twice the market cap!
- The big one for me, the Basay project could become a monster, and could cause a serious increase in the share price, it could be of serious interest
- Location - Philippines - although MML seem to do well!!
- Delivery dates of announcements are consistently late....the company have put this down to the labs being busy|
|mike_f: Mining firm Copper Development Corporation (LON:CDC) is still in dispute with the Philippines government over its interest in the Basay tenement.
On 10 January 2011, Euzkadi Holdings Corporation, the registered holder of Basay, executed a deed of assignment with Adanacex Resources, a 70% owned subsidiary of CDC to assign and transfer all of its rights, title and interest in the Basay exploration permit to Adanacex.
Upon the approval of the Basay Deed of Assignment by the relevant Philippine authorities, Adanacex will formally be registered as the holder of the Basay exploration permit.
The Company has not yet received approval of the assignment of the Basay exploration permit to its Philippine subsidiary Adanacex.
As previously announced by CDC, VeraLaw, a leading Philippine law firm, advised the Company that the Privatization and Management Office has, in the past, alleged that part of the area covered by the Basay exploration permit covers land it holds in trust for the Government of the Philippines.
However, in its legal opinion on this matter VeraLaw advised that, on the evidence it reviewed at the office of the Mines and Geosciences Bureau, this would not appear to be the case (a view shared at that time by the MGB, which awarded the Basay exploration permit). In the light of this, VeraLaw's legal opinion stated that there is no reason that the Basay Deed of Assignment would not be formally approved.
On 26 September 2011, CDC received a second legal opinion from the Philippine affiliate office of a leading international law firm, which upheld the first legal opinion that PMO did not have a legal claim to any area of the Basay tenement, that the Regional MGB office certified that Basay was outside the areas under PMO claims, and that PMO had not filed an adverse claim within the ten days of publication of the Basay exploration permit, which is the time limit and last opportunity for filing such claims.
CDC expected to receive approval of the Basay Deed of Assignment, having satisfied all documentary requirements for this purpose. However, not having received the approval, CDC had several meetings with MGB's director and a meeting with PMO, without being successful in dissuading PMO from dropping its claim to areas under the Basay exploration permit. Most recently, CDC's local counsel received a letter dated 16 July 2012 from MGB, which, ignoring the legal position presented to it from the two above legal opinions, stated that PMO "is also a government agency and it is only proper for this Office [MGB] to pay attention to the concerns of the PMO, particularly about the PMO-held area in Basay".
Pending approval of the assignment, CDC operates under the terms of the Basay Deed of Assignment, under which it effectively holds full rights to operate on the tenement. CDC continues vigorously to defend the challenge posed by the unfounded PMO claim on Basay and shall, in due course, file for renewal by MGB of the Basay exploration permit, due in December 2012. Adanacex has complied with all legal and regulatory requirements, and has met the minimum annual work commitments and is accordingly confident that, through Euzkadi, such application for another two-year renewal of the exploration permit shall be approved.
In the event the Company is unsuccessful with its efforts to renew the Basay exploration permit and/or secure approval of the Basay Deed of Assignment to Adanacex, it will review all available legal options.
As and when the Company has further news to report in relation to the ongoing dispute regarding Basay it will make an announcement to the market.
At 12:10pm: (LON:CDC) share price was -1.5p at 9p|
|the count of monte_cristo: I still very much like FRX and intend to get back into that stock...the main reasons I sold out are detailed below...
- I sold my FRX so I could buy into CDC...the reason being is that I see a greater potential for share price appreciation in comparison to FRX (IMHO)
- FRX has had a fair amount of news flow recently...without any further news flow I am thinking the share price will either remain in its current trading pattern or decline (IMHO)
- I wanted to focus my investments on my top stocks, AFF, GKP & CDC, I have sold out of other positions to build on my holding in CDC
- FRX will need to raise further cash to move the projects forward, raising cash in the current market is going to be very difficult, the capital markets may almost be closed to companies wanting to raise funds so this could mean that FRX have to raise cash at a hefty discount to the current share price (all IMHO!) once the market believe this it will take the share price down...doesn't matter how good a companies projects are if the market thinks they need to raise cash and it will be at a discount it will be a self fullfilling prophecy in terms of the affect on the share price ..all in my humble opinion.
- Personally, I am focusing on stocks that are cashed up and thus do not need to come to the market to raise funds, such as CDC & AFF! These types of companies will be able to get on with progressing there projects without any delays due to having limited cash to move the projects forward...companies that do not have cash will be in a very difficult position. When we eventually do come out of this global depression/recession (whatever you want to call it) those companies who have managed to conserver cash and use it wisely in developing there projects/assets will be in a very strong position.
This is my take on things...we will come out of this current global malaise (history has shown that we always do!)...and when we do some of these resource stocks will go on tremendous runs, appreciating in the 100s of %...of course this is all sometime off and looking at things on a day to day basis at the current time it is difficult to have the positive vision to see this. But the fact remains that the world is developing at an ever faster and more frantic rate, 100s of millions of people are being lifted out of poverty in China, India, Brazil and Russia and they all want what we in the west take for granted. In the next few decades there will be some major challanges ahead in terms of securing hard and soft resources....indeed I would not be surprised to see conflicts continue to be sparked across the globe due to the global powers and emerging economies need to secure resources in order to ensure there economic progression. Materials such as Copper will be in great demand, I remain convinced that we will see copper at over 12,000US$ a ton sometime this decade.
P.S the average age of a farmer in the US, Canada, the UK and Ireland is almost 60 years old!!! Think about that and combine that with ever increasing mouths to feed and the 100s of millions of newly created middle class in the BRICs consuming more and having higher protein diets|
Copper Dev share price data is direct from the London Stock Exchange