Copper Dev Share Discussion Threads

[duxy786] 04/10/2011 14:36

Well over done!

[duxy786] 30/9/2011 19:28

nope. Am guessing the time frame here are not interesting to day traders slowly but surely, the weak are falling off.

Am still holding out to buy, but being a chartist, the trend is down atm. Awaiting a pull back before risking my kids school fees!

[csilondon] 21/9/2011 23:34

it might dip again

[duxy786] 05/9/2011 19:48

looking to get back in tomorow, was expecting a little drop soon, in for 20K first thing...unless the share price falls on start, then I'll hold out. Think we looking to shoot up to 29p again very soon

[leoneobull] 01/9/2011 07:41

Chinese companies and investors are stepping up their purchases of industrial commodities such as copper according to the FT:

[duxy786] 22/8/2011 23:25

Loving the way this is falling, more opportunities to fill-ya-boots imo. Time to start buying once issues in Middle East and Euro see a turn around, finger on the buy button. anyone see a bottom????

[duxy786] 20/8/2011 18:18

Not currently down with AMC, DDD and SAR, but for everything that was on border line, I sold out just before crash. This was at 33p on that day. I made £330 profit from February buy LOL. Such is life. Holding back while this correction stabalises. The management here are taking up time to sure up resources (JORC complient ones). I believe a competent persons report here will make this ZOOM and am pretty sure it's not long before we get on. I'd hate to be out when it comes in.....getting edgy myself, will be looking to buy as soon as funds allow, currently heavily in SOLO and WSX, both in +ve, but SOLO touching the boarderline and starting to make my fingers itch. Target to buy at mo is BOR and AEX, BOR drilling soon and Tullow (also a good buy if you can afford it) will be looking to announce some news on Lekonde2, East Africa.


Keep smiling.....will work out here!

[leoneobull] 19/8/2011 15:50

thanks Duxy,. unfort im down massively ewhere...YELL (why?), LLOY (why oh why?), TW. luckily not too bad SAR (bought on spike!). what a year!

[duxy786] 18/8/2011 14:20

Leoneobull - As you know I am very +ve this will have a great outcome. For the moment, I hold some, having sold 50% at 45p and the rest at 33p (very little profit, having bought at 29p months before). only carrying free stock now. Like others here, I fully expect these to 90p come Mid/End 2012 but due to the long wait, I believe a lot of PI's have gone on to patures new, just keeping an eye here.

The fall in SP, on the last 3 highly positive RNS's seem to suggest a seller (possibly US holder due to issue at home) reducing slowly. LT holder should not be afraid of this and should funds allow, only use this as an opportunity to make at least 4 20p coins from 1.

The current trend is however, down and I will be looking for the first reversal to pump a large amount here. The propects that CDC have dont come much better!

GL with you other investments, I wouldnt worry about the short term share price here.

Duxy786

[leoneobull] 18/8/2011 09:21

PS what's market cap of "Bezant since CDC reckons on 1 million tonnes of copper potentially.....but less gold i guess?

[kemche] 15/8/2011 14:22

Interesting news fom BZT today re their Mankayan project. Should provide a valuation yardstick for the CDC prospects. Nice to note that they had "a number of parties" express an interest in their project. From the BZT release:
"Bezant is currently focussed primarily on the copper and gold mineral sector and its flagship project is its Mankayan copper/gold project situated in the Mankayan-Lepanto mining district of the Philippines, an area of established copper and gold mining. The deposit is located approximately 260km north of Manila and 6km east of the copper/gold mine owned and operated by Lepanto Consolidated Mining Company. Since its discovery in the early 1970s, extensive drilling (more than 45,000 metres over 48 holes) and metallurgical work has been undertaken by Goldfields Asia Ltd, Pacific Falkon and others. Bezant currently has a JORC compliant mineral resource of 221.6 million tonnes Indicated and 36.2 million tonnes Inferred, grading at 0.49% for copper and 0.52g/t for gold, at a 0.4% copper cut-off. This equates to an Indicated Resource of 2.42 billion pounds (1.1 million tonnes) of copper and 3.7 million ounces of gold, with a further Inferred Resource of 0.44 billion pounds (0.2 million tonnes) of copper and 600,000 ounces of gold. In December 2010, the Company upgraded its independent Mankayan resource estimate to JORC Compliant Probable Ore Reserves of 189 million tonnes grading at 0.46% copper and 0.49g/t gold, resulting in total Recoverable Metal Reserves of 811,000 tonnes of copper and 2.21 million ounces of gold. A Total Mining Inventory Statement was also reported of approximately 400Mt of ore at an average grade of 0.38% copper and 0.42g/t gold. "

Compare that to what CDC have reported thus far (we still await the JORC compliant report on Basay scheduled for November) and you begin to appreciate the opportunity here. Merely my opinion - but should prove interesting!

[leoneobull] 10/8/2011 13:32

Copper Development Corporation (LON:CDC)
Fairfax Market Report

Update on Bankable Feasibility Study at Hinoba Copper Project
• The company announced that work to date suggests an economic cut-off grade of 0.2% (previously 0.3%) leading to an expanded resource target of 1m contained copper (previously 726,000 tonnes)
• The Pre Feasibility Study (PFS) is now scheduled to be completed for November 2011 as opposed to mid 2011 as originally envisaged. The delay is a result of an extended drilling programme – a further 4,910 m (have drilled 15,329m already) and the two month delay in the metallurgical test work
• The revision of the PFS will result in a budget increase from US$9.1m to US$11.6m – CDC has spent US$6.2m to 30 June 2011
• Completion of the BFS remains on target for completion by mid-2012 – the budget for the BFS and PFS has increased from the original US$21.6m to US$27.1m implying that the BFS budget has increased by US$3m.
• 45% of the increase in the budget has been due to the appreciation of the A$ - the currency for the majority of the expenditure with the balance due to additional drilling and consultant costs
• The company is fully funded to complete the BFS with cash resources of US$39.5m as at 31 July 2011. This also gives them sufficient funds to continue exploration at the Basay project

[leoneobull] 10/8/2011 13:26

Hinoba-an Bankable Feasibility Study Update

Highlights

-- Work to date suggests an economic cut-off grade of 0.2% leading to an expanded resource target in excess of one million tonnes of contained copper compared to the resource of 726,000 tonnes previously stated at a 0.3% cut-off;

-- Completion of PFS now scheduled for November 2011 incorporating expanded drilling programme;

-- Completion of the BFS remains on schedule for mid 2012; and

-- Total budget for completion of the PFS and BFS increased to US$27.1 million from US$21.6 million of which approximately US$6.2 million had been spent as at 30 June 2011.

Copper Development Corporation (AIM:CDC) is pleased to provide the following update on the Prefeasibility Study ("PFS") and Bankable Feasibility Study ("BFS") for its Hinoba-an Copper Project (the "Project") in the Philippines.

As part of the PFS the Company has expanded the total drilling programme from 34,800 metres to 39,205 metres in order to define the resources to the standard required for the BFS, as recommended by Mining Associates Pty Ltd ("Mining Associates"), the resource consultant to the Project.

Separately, the drilling and metallurgical test work completed to date points to a 0.2% copper cut-off grade being economic for the Project, which was first identified as a possibility in the 2010 Scoping Study. The Company anticipates that the use of a 0.2% copper cut-off grade will provide a resource for the Hinoba-an Project of above one million tonnes of contained copper and a new base case for the BFS that is substantially larger than the 726,000 tonnes of copper resource at a 0.3% cut-off previously stated in the base case in the Competent Person's Report ("CPR") on the Hinoba-an Project (as contained in the Company's AIM Admission Document, December 2010). The potential one million tonnes copper content resource is at a level that is of interest to many mining companies seeking copper deposits to acquire or to joint venture, thereby enhancing the attractiveness of the Project.

However, the expansion of the PFS drill programme, combined with a two-month delay in metallurgical test work, means the PFS is now scheduled for completion in November 2011 as opposed to the mid 2011 date originally envisaged. The completion of the BFS nevertheless remains on schedule for mid-2012.

Since January 2011, CDC has drilled a total of 15,329 metres at the Hinoba-an Project and intends to drill an additional 4,910 metres by the end of August 2011 to complete the PFS, and a further 18,966 metres by the end of March 2012 to complete the BFS.

In relation to the financial impact of the enlarged PFS programme, in the CPR the budget for the PFS was originally estimated at US$9.1 million. The revised estimate to complete this study is US$11.6 million, of which CDC has spent US$6.2 million as at 30 June 2011. The total budget for completing the PFS and BFS is now US$27.1 million, compared to the original estimate of US$21.6 million. Of the US$5.5 million variance, US$2.5 million, the largest element, is due to the depreciation of the US dollar vs. the Australian Dollar, the currency of the majority of PFS/BFS expenditures; the balance is attributed to additional drilling of 4,405 metres and associated consultant costs, which represent a 13.9% increase in the budget. The Company is well funded to complete the BFS and continue aggressive exploration at the Basay project with cash resources of approximately US$39.5 million as at 31 July 2011.

Mitch Alland, Executive Chairman of CDC, commented:

"We are extremely pleased that the Hinoba-an BFS remains on schedule, and that the new base case could result in over one million tonnes of contained copper, a threshold level for many mining companies, which enhances the attractiveness of the Hinoba-an Project."

[csilondon] 08/8/2011 07:14

good news today

[leoneobull] 07/8/2011 11:54

my AV IS UNFORT about 45p & no cash TO AV DOWN only bright spot picked up some tw. at 31.75p for pension..

[duxy786] 06/8/2011 01:12

Leonebull - Thanks, managed to only get 42K, aimed for 55K at 0.28 but stopped out by the 5K trade before me, what a bummer! offer of 13K at 0.2835 was auto-declined. Like the fact someone paid 29.94 just before mine for a couple of K volume, talk about getting ripped off by greedy MM's.

GL All,
Duxy786

[leoneobull] 05/8/2011 20:46

duxy u da man/ well, we've held steady for days....while mkt has tanked only to be expected we'd eventually get marked down..

[csilondon] 05/8/2011 16:43

i topped up today in this, hopefully ive got it right

[duxy786] 05/8/2011 14:31

Poised on the buy button mate....everything getting a hammering, CDC seems to have taken 6-7p....ready, steady...go........

[csilondon] 05/8/2011 10:37

when is the JORC due to be approved?

[csilondon] 05/8/2011 10:26

now is your chance to top up Duxy