Copper Dev Share Discussion Threads

[jotoha2] 08/8/2012 18:17

Wow , you guys really love to wear those pink tints, this is now going to be pushed down to extreme limits , have called it correct so far , serious pain if you are still holding!!

[duxy786] 08/8/2012 16:25

gues they've run out of any more stops to push!

[duxy786] 08/8/2012 15:06

MM's playing to get as much as possible out of this one. They wont take big orders. It'll spike tomorrow shutting us mere mortals out!

[duxy786] 08/8/2012 14:59

£20K - Order refused...Might Leave in there for 8p buy

[duxy786] 08/8/2012 14:42

Gone higher again....order placed!

[duxy786] 08/8/2012 14:37

Someone got in before me...FFS!, now am being quote much higher...

[duxy786] 08/8/2012 14:36

Nice big buy order place....They refused it!

[duxy786] 08/8/2012 14:35

TCoMC, I have no daubt they will. The clue is in the RNS and it's will simply be seen by the opposition as "lets sort it asap or else we have to go to court and pay lawyers etc" or better still "Leave em to it!"

[duxy786] 08/8/2012 13:55

Sellet still around, shorters taking advantage, am guessing the 'result' of this RNS will be out within a couple of weeks. In the mean time, filling my boots!

[duxy786] 08/8/2012 13:30

Tell me about it!

The situation is delayed enough, the RNS is simply a threat of court action IMO, the information above was already public knowledge aside from the "delay" bit.

[leoneobull] 08/8/2012 12:55

This is unbelievable....this dispute has been ongoing for some time. Yet Mitch has not disclosed it. what about timely disclosure obligations? And then there is the qn of the disposal of Soltara's equity stake who must have had access to privileged info. can sbdy point this out to CDC since i'm on hols now.

[mike_f] 08/8/2012 12:39

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] 08/8/2012 12:35

RNS out, not what was expected.

[duxy786_2] 07/8/2012 22:19

Big buyer hanging around Imo, sweeping up any loose stock. Not topping again now although still thinking of what to do with hefty return at SAR today. CDC or AMC, both are for the taking along with DDD, choices choices!!!

[duxy786] 06/8/2012 15:29

empirestate, I hope so...my PF need's a lift!

[empirestate] 06/8/2012 14:59

hopefully will hear something on a trade sale or jv partner here shortly

[the count of monte_cristo] 06/8/2012 08:24

My humble opinion is....that the price of Copper will increase strongly during the end of Q3 and into Q4 and that the share prices of many of these bombed out copper stocks will bounce strongly from there current lows. Now is a testing time to be both a holder and buyer of copper explorers/developers...as it was during the lows of 2008.

[duxy786_2] 06/8/2012 08:18

Great scheme of things, doesn't matter. 4m is pittence in dilution here. Onwards and upwards. Second test of 9p bid out the way.

[mike_f] 04/8/2012 13:23

Who have the warrants gone to?

[jotoha2] 03/8/2012 18:02

Warrants @2.84 p easy money for a few insiders , another leg down next week for sure!

[duxy786_2] 03/8/2012 16:19

There you go TCoMC, Simeon just dumped on my holdings. Time to pick up a few!

[duxy786] 03/8/2012 14:11

Sorry TCoMC, I got one lot in this morning, had to grap a few but TDW was not working here, so got Mrs to do it from home, but dont know what she did exactly until I can get online. Imagine if she sold instead of bought....someone is NOT going to be very happy!!!!

[the count of monte_cristo] 03/8/2012 12:39

FFS...whoever is buying shares can you stop because I want to add some more and was looking to do this below 11p...