Copper Dev Share Discussion Threads

[leoneobull] 12/10/2012 18:53

Philippine Trade and Investment Centre London
Tel: [phone] / Fax: [phone]
[e-mail] / www.investphilippines.org.uk

[leoneobull] 12/10/2012 18:47

maybe the whole thing is dictated by the Phillipine govt & the political risks have been under-estimated by us, by CDC, by the IIs....the way to overturn this is to say fine, reject our applications the Phillipines depends on FDI & we will publicise this case to the nines which will deter foreign investment and jobs in the Phillipines which will be seen as about as reliable as Chavez' Venezuela.

[leoneobull] 12/10/2012 18:41

Jotoha - i spoke to IR. clearly the nominated advisers have seen the interim rpt & there's nothing dodgy about concluding that the geology doesnt support going ahead. What stinks is how so many positive statements were made along the way about the grade & level of resource being found.

The only positives I got from IR are (i) as we know they have more than 10m cash & (ii) the II holders in CDC are similarly aghast & demanding answers and possible ways forward. So, who knows what outcome will be...but the big holders who invested 40m in CDC in late 2010 are going to ask the questions i would like addressing ...

[bam bam rubble] 12/10/2012 17:55

From the admission doc;
On May 17th 2010 the exploration permit under the Hinoba-an MPSA was renewed for 2 years

So the permit was due to expire mid-2012 which was around the time they downed tools.
I would attach no value to Hinoba-an until clarification that this has been renewed.

[wattzy] 12/10/2012 17:46

How can the Basay report be taken seriously, thats what f'ing stinks.

[jotoha2] 12/10/2012 16:42

If you want my view , then its one based on dodgy deals, have tried to find out who the seller was when cdc bought all those millions of crazy horse shares, now if that was a related party transaction , then the monies from the coffers of Cdc have effectively been laundered via the purchase.

Now lets take a scenario where Cdc management allow cdc to disapear with all this bad news and poor performance , but are already lining up a deal on Basay once Cdc disapears , its been done many times before , very dodgy but difficult to prove once Cdc is buried!

[leoneobull] 12/10/2012 15:39

Count - what if any action are you going to take? It seems clear that Hinoba is a non-starter & they have given up on getting the license extended on Basay leaving aside the geology. I dont know what options they have other than to buy another license and do some careful research before drilling rather than spending 25m drilling and find nothing with 5m US more on buying shares in another Alland company which is disgraceful since it puts us in worse position than we would otherwise have been given Hinoba AND Basay are not looking good......

[christianf12] 12/10/2012 13:22

TCOMC, I wasn't referring to you by the way as I respect your posts but was referring to a liar who posts on here and on the cr thread. I won't say his name to give him the joy of me posting it.

[the count of monte_cristo] 12/10/2012 13:21

I have no idea what the cr thread is, and neither do I care.

[christianf12] 12/10/2012 13:15

Doesn't matter, I don't like to say the guy's name as he is a little obsessed with me. I have had him on filter for a while so can't read what he says now but he was pumping CDC at 7.5p on the cr thread a few weeks ago.

[christianf12] 12/10/2012 12:58

lol, no it was your mate TCOMC but he will pretend to you he wasn't in

: ))

[christianf12] 12/10/2012 12:43

Jeez I remember some ramping these on the cr thread at 7.5p, now who was it : )

[jotoha2] 11/10/2012 09:26

Well count , if the BOD have their way they will spend the cash investigating new opportunities , which means cash disapears and company is finished, now if the Major Holders wish to preserve and chance of of turnaround here , then they will have to kick out Alland , not likely as he is a slippery fish to say the least!

[the count of monte_cristo] 10/10/2012 13:34

Just out of interest I checked through the TSX, there are around 160-170 copper related stocks on the TSX, around 140 of them are valued at less than 20m $Can, for example out of the hundreds this one -

There are around 90 copper focused stocks valued at less than 10m $Can

Most are now sitting at all time lows. Then of course you have the bombed out copper related stocks on the ASX.

I want to know what is next for CDC? Whats the strategy now? and how will they employ the cash resources they have?

[humbugg] 10/10/2012 09:35

mitch needs to be investigated, not let off with a golden handshake. the sooner the better imo. i would hope that you both get your teeth into this. remember, follow the money.

[the count of monte_cristo] 10/10/2012 09:17

The Basay dud, also reflexs negatively on the FD research, they had, just a few months ago placed a 131p target on Basay due to the drill results and potential of it developing into a world class copper project, now we are trading below 4p and below the cash position (which is around 4.5p). I invested on the research on the drill results and that if Basay was indeed a world class copper project, that this may then lead to a major JVing into the project which would then lead to the value of the company increasing many times.



...At the Basay Project, the Company has completed drilling 34,002 metres for 71 holes. Drill results to date continue to confirm the presence of long drill intervals of significant high-grade copper-gold-silver-molybdenum mineralisation and generally support the theory that the known deposits are part of a much larger system with the potential to comprise a major copper deposit...The interim report, which is to be completed shortly, will show the extent and quantitative potential of the deposit and provide the basis for discussion with a range of mining companies with a view to concluding a joint venture on Basay.

[leoneobull] 10/10/2012 09:07

Mitch absolutely needs to go. i have also written to Luxor cap one of major shareholders copying all correspondence and asking for their view. i suggest we organise ourselves before mitch ruins ething & gets us delisted in 12 mths.

[the count of monte_cristo] 10/10/2012 09:04

Leoneobull - I have actually just emailed Peter Rose, with Mark Heyhoe of FD in cc along with Toby Hall in cc. Email is similar to yours.
I doubt I will receive a response.

This is now a long haul and I aint selling, this story if far from over. The cash position could just be the saving grace here. Many bombed out resource stocks on AIM, ASX & TSX with excellent potential but limited funds, so CDC could still emerge from the ashes...however I think Mitch needs to go, as his departure would restore some confidence. Perhaps the ideal time to go would be when he concludes some kind of a deal with a resource company. Management need to take some quick and decisiive action to update the market on where the company now goes...to sit and do nothing and remain silent would be the worst possible decision, IMHO.

[jotoha2] 10/10/2012 08:52

Major holders have not capitulated, volume yesterday was fairly modest , so all to play for if the large holders are up for a fight !

[leoneobull] 10/10/2012 08:52

Just sent copied in the house brokers. suggest the count does similar.

i hope jotoha2 is right about the investment in crazy horse since i couldnt track down info on that. anyway the rest stands.

From: Sent: 10 October 2012 08:50
To: [e-mail]
Cc: '[e-mail]'; '[e-mail]'
Subject: Investor clarification


Dear Copper Development Corp.

Equity investors would like clarification as to why a matter of weeks ago we were told that the results for Basay were excellent. Indeed, we have been repeatedly been told so throughout the first 8 months of 2012. For instance, in March 2012, CDC announced an initial JORC compliant resource for the Basay copper project. Based on a 0.25% copper cut-off grade, the Inferred Resource is 131Mt grading 0.48% copper and containing 627.3Kt of copper. This was followed by numerous subsequent RNS attesting to positive drilling results.

We are then informed that the results are insufficient to support a mining operation. 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?

Investors have been misled by the company's management with regard to CDC's prospects in Basay. The issuance of some RNS has been poorly handled. For instance, in yesterday's RNS there was no indication of a Plan B, or of a strategy under consideration to preserve and restore shareholder value (even if this were to be announced in due course).

There is then the concern about accountability and transparency (and clear potential for conflict of interest). In particular, I refer to the relationship between Soltara mining, CDC and Crazy Horse Resources. Primary concerns are first that Soltara mining has the same management as CDC with the former selling its equity stake in CDC before the full extent of legal problems was announced to market. Secondly, as I understand, CDC has invested 5-6m US $ in purchasing equity in Crazy Horse Resources which has led to a subsequent loss of 5m US$? What was the rationale for this and how are potential conflicts of interest managed?

Of course, one accepts that demand from majors for big CapEx copper projects has slowed and that the share price of EP minors has gone down across the board. However, company management should urgently consider their position since some of the statements during the course of this year with regard to Basay do not stack up.

Best regards