Copper Dev Share Discussion Threads

[the count of monte_cristo] 10/10/2012 08:38

Yes indeed, the term world class is often bandied around on AIM resource companies, but saying this and also that they had some initial interest from the majors...then saying, nah, its not even viable a few months later is pretty awful. I want to know what the cash position is now, what the montly cash burn is and what they now intend to do. I would suggest they do not look at any further copper projects in the Phillipines, and instead look at Aus or some other safer place to invest. Also, Mitch should tender his resignation. We are now basically a cash shell, with Hinoba-an on care & maintanance and a small investment in Crazy Horses.

[wattzy] 10/10/2012 08:37

5 rns's this year lauding drill results plus interims and full year stating the same then it's a dud. I find it quite hard to believe unless this is all to do with the PMO case.

Where is the interim report lets see it.

[humbugg] 10/10/2012 08:32

count,
you can't go around stating world class one month, and its a dud the next, and get away with it. not even on AIM

[leoneobull] 10/10/2012 08:30

Yes, how can they tell us even a few weeks ago that the results are excellent then than it is insufficient to support a mining operation. Investors have been misled with the Proactive Investors' article from Feb 2012 especially misleading with regard to prospects. How can we report multiple high-grade intersections then state that the site cannot be developed based on a report that has not been published and equity investors have not had access to?

[jotoha2] 10/10/2012 08:23

Good morning count , have just spoken with a very old friend in the city, and Alland is not getting any Christmas cards from those that matter , essentially the management have ficcked up big time , and changes will come in that area , so the story is not yet finished , not yet time to celebrate for you long term holders , will go long when news arrives!

[the count of monte_cristo] 10/10/2012 08:12

Basay is a dud..,management have led us on with the expectations of Basay with all the world class talk, H is right, management should be chased not the philippines. If Basay is a dud, Hinoba-an is on care & maintanance then what next?

I am now interested in;

a) What the company strategy will be because Hinoba-an is basically on care & maintenance pending a sale and Basay is now clearly not going to develop further.

b) What are the current company cash resources, I know we had 16.9m US$ but what are the current cash resources as of Oct?

c) What is the monthly cash burn expected to be now that limited work will occur on Hinoba-an & Basay? I am sure the market would be very interested to know this.

[humbugg] 10/10/2012 08:07

leoeobull,
id have thought your time would be better spent chasing the directors for what amounts to fraud imo

[leoneobull] 10/10/2012 07:51

let's also email the philippines embassy in LONDON, etc. they cannot disregard the written evidence from the other philippine authority

[the count of monte_cristo] 10/10/2012 07:24

Leoneobull - will do!

[scientologyweirdo] 09/10/2012 22:23

102 mentions of DLM on the Topinfo pump and dump brigade thread. Many of them in the last few days.

Tut Tut.

TOP Traders Thread !!!! - CR

Amazon_Woman - 08 Oct 2012 - 11:01:40 - 155830 of 156630

DLM people still sniffing small trades but £2k is .5% of the co !!! funded returned to profitability according to RNSs, the latest fund raise should be enough to fund WC if they are now profitable.

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TOP Traders Thread !!!! - CR

Amazon_Woman - 05 Oct 2012 - 16:20:48 - 155551 of 156631

DLM sorry only a 50 bagger got carried away saying 100 bagger LOL

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TOP Traders Thread !!!! - CR

Amazon_Woman - 05 Oct 2012 - 15:57:56 - 155512 of 156631

DLM a bit more interest £350k MC with contracts coming in at £350k a time 10 poss 100 bagger IDS

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TOP Traders Thread !!!! - CR

Amazon_Woman - 05 Oct 2012 - 15:17:38 - 155466 of 156631

NEW BEGINNING MKT CAP JUST £380,000 (with cash £279,000) (DLM)

DLM last mention do NOT say why didn't anyone say am off again have fun

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[bam bam rubble] 09/10/2012 21:10

I believe it was director Sam Jonah (ex-President of AngloGold and then director at CRC) who brought in Glencore rather than Mitch Alland, and it didn't go through in the end

'CRC revokes placing with Glencore'

[leoneobull] 09/10/2012 20:52

Where do we go from here? Count can u paste your email to uk t+i in philippines please + their email address + I will send them similar email external political pressure could help wth basay license... On basay mitch has a lot of explaining to do also why have we not seen the report. I am encouraged at least he managed to sell sthng to glencore...

[duxy786] 09/10/2012 20:47

Evening peeps...

Loving the RNS, here's another spin....tell the world (phillies) it's not a commercial mine....They will hand over the licence quickly and cheaply, then CDC can carry on going without fighting a legal battle over it....just food for though....either that or Jotoha is right, scam artists except, they have really messed up and we should group and report to the FSA immediately.

More on the latter later...

Duxy786

[jotoha2] 09/10/2012 20:09

Come on Goldman , kick out Alland and lets get in some new honest blood.

[the count of monte_cristo] 09/10/2012 20:06

In regards the investment in Crazy Horse I would imagine...surveying the carnage across virtually the entire resource sector on AIM on the TSX and ASX that they made those investments during a top in the sp, and then when the share price nose dived so did the value of there (or our if you are a shareholder) investment.

Humbugg - agree! The management have been releasing RNSs on Basay with virtually everyone of them saying world class...todays RNS revealed no news on the drill results, why? Very dissapointed.

[jotoha2] 09/10/2012 20:01

I think you would be wise to remove your views in the header regarding strong management etc , they have never achieved anything in regards to shareholders benefit, only in lining their own pockets !

[bam bam rubble] 09/10/2012 19:56

The City has already have been caught twice. Here and in Mitch's previous AIM vehicle Copper Resources Corporation - he tried to keep that golden egg going as well

Nov 2007. All is not well at Copper Resources Corp. This week, Mitch Alland and Sam Jonah tendered their resignations in a move that generated much controversy. Last week they engineered a move which saw Glencore take a 35.7% stake in the company. The secretary refused to comment on their resignation, however a Financial Times report linked it to a board split over an offer for the company by Metorex, 25% above its current market cap. The two directors did not agree with the bid and tried to bring in Glencore in an attempt to dilute and rural the Metorex bid. The sale of shares to Glencore has since been annulled and the directors resigned to avoid being fired by the remaining directors.

[jotoha2] 09/10/2012 19:51

And while you are at it ,check out Crazy horses accounts, not good reading , and yes we have Alland in their as a Director and am sure the main culprit in their demise !

[jotoha2] 09/10/2012 19:36

Nice to see you appear on your own bb count, as you were the main cheerleader here, please explain why the company invested in the Crazy horse company an amount that has eroded some $5million in a short space of time, these guys are crooks and you kept promoting them .God knows how many small pi followed your glowing reports about the future, as I said they are common crooks and look forward to them coming after me if they have the balls , but of course they will disapear over the hills with your cash !

[the count of monte_cristo] 09/10/2012 18:45

Leoneobull - totally agree with your posts we have been led to believe that Basay was a 'Monster' and that...'Basay would develop into a major world class copper project'. Extremely dissapointing and Mitch should now step down. I will contact the company as well.

Gerryjames - I agree, at 30th June 2012, they had $16.9 million, which equates to over 10.5m GBP or 4.55p a share in cash.

What the company now need to do after this disaster of an RNS is to tell the market what there strategy is, bacause Hinoba-an is on care and maintanance pending a sale, and now Basay is a dud, so what are they going to do with the cash? What is the strategy?

Cyprus - he is upset because he was maliciously posting the company would need to come to the market cash in hand for a 3p placing...which has yet to happen, namely bacause they have over 10m GBP cash (current market cap less than 8m GBP). So because of this he is now stalking me. Sadly there is always one. I have always been positive on the company, due to the potential of Basay, or at least the potential which we were led to believe existed from those RNSs stating world class potential and deep long drill results of copper, which all looked very exciting. I am extremely dissapointed with how Basay has turned out as is anyone invested here. Thats the way investing in resource stocks goes sometimes, it's a high risk high reward investment, you try and minimise those risks from research and from what you can detail from company communications, which in this case don't seem to have explained the full story (if it wasn't world class then why even mention this in communications??). If CDC can conserve there cash and invest it wisely, many resource companies are going to go to the wall because they have no cash and no one wants to lend them cash in this environment, I have not sold any shares....should I have done, yes, I should have sold the lot at 25p earlier on this year!

[jotoha2] 09/10/2012 17:59

cyprus , the count has maintained a very positive stance with this management, even when all the data was there to confirm that this company has been a sham from the begining , like so many other dodgy outfits on AIM . Even at 10p he was ramping it to death , from my sources the company has attempted a cash call , but clearly the bankers were not impressed with what they saw , and of course now we know why!!

[cyprussteve] 09/10/2012 17:51

jotoha2,
Why keep referring to the Count ? -
In my experience he always posts it as he sees it - and, invariably backs it up by reasoned research or links.
There is no way that he could have seen today's RNS coming, and, surely, each investor makes their own decisions - this to me smacks of Directors previously being economical with the truth , or, at best, incompetence - hardly the Count's fault , is it ?
The one thing I do know from having read the Count's postings on many boards over the past few years is that he is genuine in his views - and, will invariably try to give both sides of the story.
Does he always get it right ?? - of course not - please tell me of one investor who does.
I confess that I am becoming increasingly cynical - ( with a few exceptions) - of the vast majority of exploration Companies on AIM.