Copper Dev Share Discussion Threads

[mike_f] 19/6/2012 15:28

Tick up :) 10.75 bid now and just 1 MM on the ask. Looking good!

[mike_f] 19/6/2012 15:12

100k buy order executed at 10.75p showing as an uncrossing trade.

[mike_f] 19/6/2012 14:10

Copper Follows Equities Higher

[mike_f] 19/6/2012 14:00

By the way mcap is just £24.34m at current sp!

[mike_f] 19/6/2012 13:57

Nice work Count. Show's just how cheap we are currently. Huge potential here!

[the count of monte_cristo] 19/6/2012 13:55

...makes the current valuation of CDC, of 27m GBP, look a tad small in my opinion...I would also imagine this is why FD are keeping with there 131p..a 1,150% increase from the current valuation.

[the count of monte_cristo] 19/6/2012 13:39

Check this out Mike...maybe helpful for those trying to value Basay...

- Antucoya project proved and probable Ore Reserves of 643 million tonnes of 0.35% copper.

- Marubeni will become a 30% partner in the Antucoya project for a consideration totalling US$350 million

Compare the Antucoya project to Basay...and then factor in the following, the resoource at Basay is almost certainly going to significantly increase, I reckon by around 300-400% come the next JORC (this is my opinion and is admittedly more of a guess!!) additionally, as I detailed in yesterdays post I also think that the grade will increase from 0.48...which is already significantly better than the Antucoya project.





Projects and exploration

As previously announced, the Group signed a Memorandum of Understanding with Marubeni Corporation in December 2011 pursuant to which Marubeni will become a 30% partner in the Antucoya project for a consideration totalling US$350 million. Definitive agreements between Antofagasta and Marubeni have now been signed, on 19 April 2012 and closing of these agreements is expected in the second half of this year. Antucoya is a copper oxide deposit that is expected to produce an average of 80,000 tonnes of copper cathodes per annum through a standard heap-leach process with first production in the second half of 2014. It is expected to have a mine life of approximately 20 years, with proved and probable Ore Reserves of 643 million tonnes of 0.35% copper. Antucoya is finalising the key construction contracts and the development cost of the project is currently estimated at US$1.7 billion.

[mike_f] 19/6/2012 13:35

10.6p to sell and 10.625p to buy! Just bought another small amount myself. GLA

[mike_f] 19/6/2012 13:29

L2 has strengthened to 2v2 and a buy order has appeared for 100k at 10.75p

[mike_f] 19/6/2012 13:26

From April RNS:

Mitch Alland, Executive Chairman of CDC, commented:

"Hole 50 is highly significant, as it is a new discovery of the eastern extension of the Southeast Deposit in an area that had never been previously drilled. This extension, based on magnetic signature, has the potential to double the resource at the Southeast Deposit. Also, Hole 47 at the Southeast Deposit, with its long, high grade intersection of 0.62% copper, is an important demonstration of the previously unknown extension of this deposit at depth along its western edge, which has the potential to add more substantial tonnage to our resources at Basay. Overall, we have completed an in depth review of all new geological information and have used sophisticated techniques to identify new drill targets that show promise to be major extensions at depth and on strike of known resources. In addition, areas of known supergene copper mineralisation are targeted which may potentially add easily mineable resources to the overall project. With these new targets and ongoing growing knowledge of the geology of Basay, we feel that the next two months of drilling will be highly productive in our goal of realising these deposits as a major, world class copper project."

So when we get an update on the recent drilling we should also get a significant increase in the JORC... recent drilling results have been fantastic and bodes extremely well!

[mike_f] 19/6/2012 13:10

Comment on Basay from March (maiden JORC RNS):

"This initial JORC-compliant resource estimate, based on a relatively small number of holes, shows substantial areas of high grade resources. In the light of what we are learning about the geology of this deposit, which remains open at depth and on strike, we expect with our continued drilling to show the truly extensive nature of this very attractive deposit on a substantially larger and possibly higher grade resource."

Looking forward to the results of the recent drilling :)

[mike_f] 19/6/2012 11:22

Morning Count, yes I had a gander when you mentioned the correlation a few days ago. Interesting observation, will keep an eye. As duxy said yesterday 16p first stop to fill the gap! GLA

[the count of monte_cristo] 19/6/2012 11:17

..must be mate, I was quoted 10.4p to buy this morning...unfortunately I have no spare cash at the moment...unless I sell something..and I have already sold a few of my stocks completely to get in here.

O/T - AFF also moving off its low...check out the correlation of the 1 year share charts of AFF & CDC....almost identical and I wager when the bounce comes they will again correlate. I am watching this carefully to see if my theory will be correct:))

[mike_f] 19/6/2012 11:13

Can't see any purchases... buy order being filled?

[duxy786] 18/6/2012 10:50

TCoMC - Although I dont agree this is the best of the AIM (Personally, I believe AMC will come trumps up once the Russians grant the final licence), I do believe this is significantly oversold, infact, the gap closes at 16p minimum so a 50% increase on any investement here is for the taking. Order filled - 46200 this AIM on T20 via TDW, an order I placed on the weekend. It's not showing on ADVFN which is not normally the case!

[mike_f] 18/6/2012 09:40

Bottom touched? Bounce to a more realistic level now please :)

[the count of monte_cristo] 18/6/2012 08:43

Duxy, I concur. I picked up just over 30,000 shares @ 10.8p this morning.

P.S. ...it is my personal opinion that CDC offers THE best potential to materially increase its resource base (compared to its current market cap) of any of the AIM listed resource stocks...

[duxy786_2] 18/6/2012 08:35

Sellers cleared, for the intelligent, now is the time to add. Sweet opportunity like this don't come round everyday!

[the count of monte_cristo] 18/6/2012 08:12

...remember that Solfotara Mining Corp own 30% of Basay...have you missed this?

[leoneobull] 18/6/2012 08:09

let's hope so! definitely ask Mitch about soltara...it could be that since they part-owned hinoba wth rapid decline in resource stocks maybe they concluded that only basay is worthwhile at this stage but why wouldn't soltara hold out for the loot fr basay commmercialisation?

[the count of monte_cristo] 17/6/2012 16:59

Hi Leoneobull - I will pop him an email and ask him about this....

In regards Basay, I have gone through all the recent RNSs this weekend, and in my own personal opinion I think the next JORC update could be very interesting, I reckon the potential is there for the current JORC resource of 131 Mt @0.48% to triple or quadruple...maybe even more.... and this is just from the 34,000m of drilling. My personal view is that the next JORC will come in at around the 400-550 Mt figure @ 0.50 to 0.55%Cu.

Additionally I think that not only will there be a signifcant increase in the JORC but importantly the grade will increase from 0.48%, I base this theory from the results we have so far seen from the drilling.

In regards the FD note, that is there target price, when the markets and resource stocks have there next upturn...which granted my not be for a while and when the copper price is nudging 10,000US$ a ton then I reckon, again IMHO, we will see that target price of 131p met...which would value the company at around 330m GBP, which could be quite possible if Basay does develop into a world class copper project with a 1 billion plus resource.

[leoneobull] 16/6/2012 06:14

For immediate release:  0; 30 April 2012

Copper Development Corporation
("CDC" or "the Company")

Holdings in Company

The Company announces that it was informed on 26 April 2012 that Solfotara Mining Corporation no longer had a notifiable interest in the Company.

[leoneobull] 15/6/2012 18:37

For immediate release:  0; 30 April 2012

Copper Development Corporation
("CDC" or "the Company")

Holdings in Company

The Company announces that it was informed on 26 April 2012 that Solfotara Mining Corporation no longer had a notifiable interest in the Company.

[leoneobull] 15/6/2012 18:34

could we ask Mitch....how come the 30% holder in Hinoba has sold out according to an RNS in april,,,???

'The block is 70 per cent owned by CDC, with the remainder held by Solfotara Mining Corp, a private Canadian company'.