African Copper Share Discussion Threads

[outsourcer] 28/9/2010 08:00

I dont think ZCI have to buy on the open market, the resolutions passed at the AGM allowed ACU to issue shares to ZCI if financing was needed, which I guess will be the case at some point, so ZCI can effectively name the price they are willing to pay

[ted1806] 27/9/2010 21:06

That makes two of us 11, but if over 80% are held by ZCI
and someone is loading up then sooner or later this has to pop!

[1144523] 27/9/2010 21:04

# ACU Website #

Share Structure as of May 25, 2009

Approximately 82.2% of the Company's shares are not in public hands:

Brad Kipp 300,000
Zambia Copper Investments 676,570,500 (82.16%)


# ZCI Annual Report #



26. Subsidiary undertakings

ZCI Holdings SA 100%
ZCI Holdings Ltd 100%
African Copper Plc 82.16%
Mortbury Limited 82.16%
Messina Copper 82.16%
Matsitama Minerals 82.16%


Now then, I Can't find an updated version of holdings anywhere. In all honesty some investment fund / trust / general rich guy could be buying. It might be that ZCI CAN'T buy ACU shares but if someone knowledgeable knows why they can't or can prove they haven't please tell. I'm merely a beginner.

[ted1806] 27/9/2010 19:00

I agree 1144523!
Those two buys at the end just soaked up all the sells and
we should have ended up blue. It feels like the mm's are
holding this around 5p until whoever it is has loaded up.

This pattern has been going on for some time now and I'm
just curious if it is ZCI or the same person or not, but
the pattern of buying and the sizes are similar......

Hang in there I'm sure we will be rewarded.

[1144523] 27/9/2010 18:40

I came extremely close to selling today but something is holding me back. Something tells me something is going to happen here.

Good to see those 2 308k trades. I still think ZCI are buying here but I know nothing I suppose.

[outsourcer] 27/9/2010 12:21

blimey, sub 5p happened a bit quicker than I thought

[outsourcer] 27/9/2010 08:55

a nice rise, promising RNS and then the usual back down we go, sub 5p soon ? this really is becoming a dog of a share to hold.

[anusol] 27/9/2010 08:13

hopefully seen the back of sub 5p. But like many on here, I need a bit more than that to break even.... long term i feel confident here

[1144523] 26/9/2010 20:28

lol, sounds like you're in from 5.5p+ Ian. Me too. Still, the high return shares I have been in all showed downside before significant upside.

[1144523] 26/9/2010 09:09

So....

ZCI are going to repurchase ZCI shares (when they like without notice)
At a premium up to 10% (of past 5 days weighted average)
Up to a limit of 20% of the issued share capital of ZCI

I would expect that this would cause the ZCI share price to appreciate.

What effect will this buying have on ACU?

[devil20] 24/9/2010 11:17

Frightened market perhaps OUTSOURCER. Worries over double dip etc and copper prices dropping back. We should march upward from here on I would of thought.

[outsourcer] 24/9/2010 11:03

typical ACU, good news early rise then back down it goes (most likely finish red today), this has been the pattern I think with nearly every RNS released

[devil20] 24/9/2010 09:10

Nice solid update. Production is certainly ramping up. I take it the next results will be in March, but they should be very good.

[outsourcer] 24/9/2010 08:51

nearly breaking even 1/2p to go

[ishwar] 24/9/2010 08:10

if u guys don't mind me asking, what is the production rate worth of at current copper rates.. many thanks in advance

[outsourcer] 24/9/2010 08:09

a nice start to the day, lets hope it can be maintained

[1144523] 24/9/2010 07:44

Big increase in what they have sold.

[andrbea] 24/9/2010 07:31

so at Thakadu... commercial mining operations have now commenced

good progress overall IMO

[1144523] 24/9/2010 07:26

Production and Exploration Update
FOR: AFRICAN COPPER PLC

AIM SYMBOL: ACU

September 24, 2010

African Copper Plc: Production and Exploration Update

Receipt of Environmental Approval and Development Permit for Thakadu Copper-Silver Deposit

LONDON, UNITED KINGDOM--(Marketwire - Sept. 24, 2010) - African Copper Plc (AIM:ACU)(BOTSWANA:AFRICAN COPPER)
("ACU" or "the Company"), the AIM-listed copper producer and exploration company, currently focused on
Botswana, announces a production update on the Company's Mowana Mine and the commencement of mining operations
at the nearby Thakadu deposit ahead of the Company's annual general meeting to be held today.

At the Mowana Mine the Company continues to make solid progress towards reaching commercial production levels.
Production continued to increase between June and August 2010. From 1 June to 31 August 2010 Mowana produced
4,450 tonnes of concentrate, at an average concentrate grade of 23%. Mowana sold 4,503 tonnes during this
period, generating net revenue of $4.72 million.

/T/

=---------------------------------------------------------------------------
June 2010 July 2010 August 2010
=---------------------------------------------------------------------------
Ore processed (tonnes) 60,933 55,607 70,206
=---------------------------------------------------------------------------
Cu grade (%) 1.26% 1.02% 1.17%
=---------------------------------------------------------------------------
Recovery Cu (%) 38.3% 45.7% 68.1%
=---------------------------------------------------------------------------
Concentrate produced (tonnes) 938 1,195 2,317
=---------------------------------------------------------------------------
Concentrate grade (%) 21.8% 21.7% 24.2%
=---------------------------------------------------------------------------
Copper produced in concentrate (tonnes) 204 259 561
=---------------------------------------------------------------------------
Concentrates sold (tonnes) 943 1,019 2,541
=---------------------------------------------------------------------------
Payable copper sold (tonnes) 198 192 574
=---------------------------------------------------------------------------

/T/

The Company continued to address the issues required to lift the performance of Mowana to the next level. Amec
Minproc, an international engineering firm, is undertaking the engineering design study on the Secondary and
Tertiary ("SnT") crushing circuit to enable it to operate at capacity year round. While this work has been in
progress, the SnT has performed well as the feedstock is currently dry. Management has also budgeted for the
addition of a washing plant to screen and wash out the fine fraction from the ore before it enters the primary
crusher ore stockpile, in order to more permanently alleviate demands on the SnT. Since lead times on delivery
of the washing plant and certain SnT components will not allow for installation prior to this year's rainy
season, the installation has been delayed for completion until November 2011 (prior to the next rainy season)
to conserve capital. The combination of the existing SnT and mobile crushing capacity that was secured earlier
in the year should alleviate SnT capacity restrictions that were experienced during last year's rainy season.
In an effort to further conserve capital, a dense media separation plant, originally planned for installation
in the first half of 2011, has also been put on hold.

Migration from the Mowana dry tailings facility to a more conventional wet tailings system is progressing on
schedule. Approval to commence construction of the wet tailings facility was granted on 21st May 2010 and
construction of the initial phase of the wet tailings facility is anticipated to be completed in October 2010.

In March 2010 ACU resumed work on the neighbouring Matsitama Exploration Project. The project encompasses the
highly prospective Matsitama Schist Belt and consists of four licences totalling 2,276km(2)in extent.
Exploration expenditure commitments must be incurred by mid-2011 to allow ACU to apply for retention licences
over a portion or portions of the exploration permits beyond this period.

To ensure that exploration commitments are met and exploration expenditures optimally spent, ACU has hired an
experienced exploration manager to oversee the project over the next year and secured the services of a panel
of internationally recognized geological experts to help generate new exploration strategies, refine mineral
emplacement and deposit models, and assist in target generation.

Since May 2010, four workshops have been held on site in Botswana with various members of the expert panel.
Work completed included a review of the company's extensive exploration datasets, the reinterpretation of the
geophysics data, field-based structural studies, and the submission of a suite of samples for age dating
purposes.

Ten new and highly prospective targets have been identified during the review process by both the expert panel
and Matsitama exploration staff and fast-track exploration programmes have been designed to allow the targets
to be assessed within the available time frame. Exploration budgets have been formulated to ensure that
exploration moneys are optimally spent. Exploration drilling and geophysical surveys will commence at Matsitama
in late-September.

Separately, the Company is pleased to announce the approval of the Environmental Impact Assessment and the
receipt of a Development Permit for its Thakadu copper-silver deposit some 70 km from the Mowana Mine in the
northeast of Botswana. This allows mining to start, in line with the approved Archaeological Impact Assessment,
ahead of the grant of a full Mining Licence from the Botswana Government The Mining Licence is expected to be
granted shortly but commercial mining operations have now commenced.

Thakadu's high grade mineral resources will be developed in an initially small scale (and relatively low cost)
open-pit operation with low pre-strip mining requirements and will share the Mowana Mine processing
infrastructure and management. As reported in ACU's Management Discussion & Analysis, announced in June 2010,
the principal operational requirement will be to establish sustained transport between Thakadu and Mowana and
the Company is currently finalizing transportation plans for the project which are currently being undertaken
by truck.

A Project Manager was appointed at the start of March 2010 and an initial mining contract awarded to a Botswana
company, Strata Mining, until end March 2011. Full mining activities have commenced with a progressive increase
in mining volumes anticipated during the remainder of 2010.

SAMREC compliant Proven & Probable In-pit Mineral Reserves, at a 0.5% Cu cut-off, as announced on 21 December
2009, are:

/T/

Copper
Category Tonnage Contained Metal
(Mt) (%) (Tonnes Cu)
=---------------------------------------------------------------------------

Proven Reserves Nil Nil Nil
Probable Reserves 2.77 2.15 59,477
Sub-total 2.77 2.15 59,477
=---------------------------------------------------------------------------

In-pit Inferred Resources Nil Nil Nil

/T/

With mining commencing at Thakadu, the Company's focus will now shift to the Makala area as the next logical
deposit to develop in close proximity to Thakadu. The Makala copper deposit is contiguous along strike to the
northwest of Thakadu within the same broad metasedimentary package. Historical diamond drilling totalling
22,445 metres, and diamond drilling carried out in 2006, of 5,103 metres by African Copper, has defined copper
ore over a strike length of 1,800 metres. Current inferred mineral resources from an African Copper internal
estimate, made in August 2010, total 10,276,186 tonnes at 1.18% TCu (at a cut off grade of 0.0% Cu). The Makala
deposit remains open at depth and further exploration drilling will be carried out. Sufficient geological data/
information exist at this stage to allow a scoping study for an underground mining operation to be undertaken.

Commenting, Jordan Soko, Acting Chief Executive of African Copper Plc, said, "We are making good progress on
driving Mowana production levels higher and are successfully addressing problem areas. The addition of the
washing plant in due course and completion of the wet tailings facility will continue this process.

"The development of Thakadu provides significant economic benefits to our mining operations in Botswana. We
will be able to substantially increase capacity utilisation of the enhanced infrastructure at Mowana and take
our total production to a higher level. I am delighted that we have been able to announce a further successful
plank in our business strategy. We can now switch our exploration focus to the nearby Makala prospect as we
look forward to proving up further resources in African Copper's highly prospective licence areas."

The technical information in this announcement has been reviewed and approved by David De'Ath, BSc (Hons), MSc,
GDE-Mining, MIMM and MAusIMM, the Company's Manager, Geology, of the Mowana Mine for the purposes of the
current Guidance Note for Mining, Oil and Gas Companies issued by the London Stock Exchange in June 2009.

For further information please visit www.africancopper.com.

Notes to Editors:

African Copper Plc is an AIM-listed copper producer and exploration company, currently focused on Botswana. The
Company's flagship project is the copper producing open pit Mowana mine. ACU also owns the rights to the
adjacent Thakadu-Makala deposit. Both deposits are situated on the highly prospective Matsitama belt, located
close to Botswana(C)s second largest city, Francistown, in the north- eastern part of the country.

This press release contains forward-looking information. All statements, other than statements of historical
fact, that address activities, events or developments that the Company believes, expects or anticipates will or
may occur in the future including, without limitation, statements regarding the ability of the Company's action
plan for developing the Thakadu high grade mineral resources, the timing of receiving the mining licence at
Thakadu, the ability to establish sustained transportation arrangements between Thakadu and Mowana and the
timing of finalizing transportation plans, the timing of operations commencing at Thakadu and the sufficiency
of geological data/information to allow a scoping study to be undertaken at Makala are forward-looking
information. This forward-looking information reflects the current expectations or beliefs of the Company based
on information currently available to the Company. Forward-looking information is subject to a number of risks
and uncertainties that may cause the actual results of the Company to differ materially from those discussed in
the forward-looking information, and even if such actual results are realized or substantially realized, there
can be no assurance that they will have the expected consequences to, or effects on the Company.
Factors that could cause actual results or events to differ materially from current expectations include, among
other things, risks related to failure to convert estimated mineral resources to reserves, conclusions of
economic evaluations, changes in project parameters as plans continue to be refined, the possibility that
actual circumstances will differ from the estimates and assumptions used in the current Thakadu mining plan,
future prices of copper, unexpected increases in capital or operating costs, possible variations in mineral
resources, possible delays or ability to contract the necessary transportation arrangements between Thakadu and
Mowana, grade or recovery rates, failure of equipment or processes to operate as anticipated, accidents, labour
disputes and other risks of the mining industry, delays in obtaining governmental consents, permits, licences
and registrations, political risks arising from operating in Africa, changes in regulations affecting the
Company and the other risks disclosed in the Company's most recent annual information form filed on SEDAR at
www.sedar.com. All forward-looking information speaks only as of the date hereof and, except as may be required
by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking
information, whether as a result of new information, future events or results or otherwise. Although the
Company believes that its expectations reflected in the forward-looking information, as well as the assumptions
inherent therein, are reasonable, forward-looking information is not a guarantee of future performance and,
accordingly, undue reliance should not be put on such information due to the inherent uncertainty therein.

[feethak2] 23/9/2010 19:53

Remember this was valued at £70m-£90m using a copper price of $1 per lb, copper is now $3.55 per lb.

Hopefully the share price is begining to move to a more sensible level, because even if it doubled from here it would still be well undervalued in my opinion.

Hopefully our patience will pay off.

Outsourcer a bit more patience and you should make a handsome profit here.

IMHO

GLA

[1144523] 23/9/2010 15:32

Maybe last thing. Tomorrows ACU AGM is at 10:30am.

[fortune44] 23/9/2010 15:23

Hi Lads, just got back from shopping still going strong I see.

Must be another tick up soon

[1144523] 23/9/2010 15:16

No clues yet.
ZCI will soon be able to start re-purchasing its own shares.

ZCI Limited
(formerly Zambia Copper Investments Limited)
(Bermudian registration number 661:1969)
(South African registration number 1970/000023/10)
JSE share code: ZCI ISIN: BMG9887P1068
Euronext share code: BMG9887P1068
("ZCI" or "the Company")
RESULTS OF ANNUAL GENERAL MEETING
Shareholders are notified that at the annual general meeting held on 23 September 2010, all the ordinary
resolutions and the special resolution proposed thereat were duly passed by the requisite majority votes.
The special resolution granting a general authority to the directors to repurchase the Company's shares was
adopted and will be lodged for registration with CIPRO in due course.
Bermuda
23 September 2010
Sponsor: Bridge Capital Advisors (Pty) Limited

[outsourcer] 23/9/2010 14:45

a strange rise on the back of less than 500k traded, not that I am complaining