Circle Property Share Discussion Threads

[unionhall] 06/9/2006 16:10

Strong fundamentals propel copper, zinc and nickel
By Jon Nones
05 Sep 2006 at 02:24 PM

Copper, zinc and nickel prices gained on metals demand from investment funds, according to Bloomberg.

"We've got the return of the funds," said Robin Bhar, an analyst at UBS AG. "They've been loaded up with cash from investors."

"Industrial activity picks up because you have vacation shutdowns," said Bhar. "They will now start to gear up."

"There are all the ingredients for another rally in prices," Bhar said. "Strong fundamentals are offsetting any worries about growth."

"Zinc has the strong fundamentals," and nickel "has got rapidly dwindling stocks," Bhar said.

Citigroup raised its copper price forecast to $3.25 a pound for the fourth quarter from $3 and to $2.75 for 2007 from $2.25.

Citigroup has expectations that "commodity deficits will extend through 2008," analyst John Hill said in a research note released Monday.

"Demand is the key to the current market, with the potential supply disruption being the catalyst to continuing high prices," added John Meyer, an analyst at Numis Securities Ltd. Meyer. "The supply deficit looks likely to continue for the next six to 12 months."

Zinc rose $170, or 4.9%, to $3,645 a tonne on the LME. Nickel gained $1,000, or 3.6%, to $28,600 a tonne. Copper futures for December delivery gained 18.4 cents, or 5.3%, to $3.645 a pound in morning trading on Nymex.

[pinhead3] 05/9/2006 22:29

Arrests delay Congo poll results

DR Congo's people had not had such elections since 1960
The announcement of results from Democratic Republic of Congo's parliamentary polls has been delayed after the arrest of election workers.
Ten people have been detained for allegedly falsifying results, an electoral commission official said.

President Joseph Kabila's party has a commanding lead in the two-thirds of results declared from the July poll.

Mr Kabila and former rebel leader Jean-Pierre Bemba are to contest a presidential run-off in October.

The elections were intended to be the first democratic polls in 40 years and to draw a line under a five-year civil war.

Correspondents say the capital, Kinshasa, was tense on Monday, when the results were announced.

Meanwhile, teachers have gone on strike demanding that the government respect a pay rise agreed two years ago. DR CONGO RESULTS BY PROVINCE

PARLIAMENT:
APM (Kabila): 169
Renaco (Bemba): 47
Seats declared 341/500
Source: AFP
PRESIDENTIAL:
Joseph Kabila: 45%
Jean-Pierre Bemba: 20%
Antoine Gizenga: 13%
Turnout: 70%
Source: CEI
Those arrested over the alleged falsification of results are said to be supporters of the Congolese Rally for Democracy rebel group-turned political party.

The Alliance of the Presidential Majority, which backs Mr Kabila, gained 169 of the 341 parliamentary seats declared so far, reports the AFP news agency.

The Rally of Congolese Nationalists (Renaco), supporting Mr Bemba, is in second place with 47 seats.

However, Renaco's score is expected to increase as the areas still awaiting results are in the Lingala-speaking west, where Mr Bemba enjoys strong support.

The final results are now expected to be announced on Thursday.

Independent Electoral Commission spokesman Dieudonne Mirimo said the alleged poll fraud had affected results in the capital, Kinshasa.

"This will have no effect on the calendar for the presidential second round," he said.

The announcement of results from the presidential election saw clashes between the security forces loyal to Mr Kabila and those of former rebel leader Mr Bemba, in which 23 people were killed.

Some 17,000 UN peacekeepers, backed up by European Union forces are in DR Congo to ensure security.

[pinhead3] 05/9/2006 15:21

I don't know you what's the world coming to?
You find gold while carrying out a drillng programme at a copper mine on top of the copper & the share price only goes up 5%!
The fact that basically the whole mine is not reflected in the share price just makes it laughable.

[drewz] 05/9/2006 09:15

You're right, looks very much like I did bail out too soon!

Never mind, not too late to buy back in now that there is better forward visibility on the Hinoba-an project to offset the political risk of getting value safely out of DRC.

[wassapper] 05/9/2006 08:47

Hinoba is shaping up to be a truly positive economic resource.

[wassapper] 05/9/2006 08:46

'Copper Resources GOLD MINERALISATION DISCOVERED AT HINOBA-AN
Immediate Release 5 September 2006

COPPER RESOURCES CORPORATION

GOLD MINERALISATION DISCOVERED AT HINOBA-AN

COPPER PROJECT IN THE PHILIPPINES

LONDON, United Kingdom - 5 September 2006.

Assay results of cores from the recently completed geotechnical drilling
programme at the Hinoba-an Copper Project of Copper Resources Corporation (AIM:
CRC.L) ("CRC", "the Company") confirm gold-bearing mineralisation. These
results indicate the potential for a significant gold system to the northeast
of the main porphyry copper mineralisation at Hinoba-an.

Geotechnical drilling for the copper project at the northeast wall of the
proposed Don Jose ("DJ") open pit, intersected several intrusive dacites
(silica-rich igneous rocks) and associated hydrothermal breccias (rocks broken
by hot fluids). These rocks represent the feeder zone for dacitic and rhyolitic
(more silica-rich) volcanic rocks that represent the last phase of volcanism in
the belt (circa 13 million years). These late-stage volcanic events are often
associated with metal-rich fluids, which represent the last phase of volatile
release from the underlying magmas. It is these fluids that often cause the
brecciation, or else percolate through a pre-existing breccia and deposit
metals, including base metals, gold and silver.

Mark Gordon, CRC's Chief Geologist, interpreted that these units are
sub-vertical, and trend NW-SE, that is, parallel to the trend of the porphyry
copper deposit. The mineralisation is adjacent to the intersection of a
NW-trending structural zone and a SW-trending structural zone. The SW structure
extends to the Bulawan Gold Project, which is located at the intersection of
this and another NW trending zone 5km to the southwest of DJ. The Bulawan
project, which is also hosted in a similar age dacitic complex, produced some
300,000 ounces of gold before being put onto care and maintenance in 2002, due
to low gold prices.

Significant results show gold grades up to 1.9 g/t, and include the following:

Hole CDG-012

* 85m to 107m - 22m @ 0.35 g/t (0.1g/t cutoff), including 6m @ 0.9g/t from
92m (0.5 g/t cutoff, peak value 1.4 g/t)

* 142m to 161m - 19m @ 0.18 g/t (0.1 g/t cutoff), including 4m @ 0.38 g/t
from 147m

Hole CDG-013

* 99m to 101m - 2m @ 0.506 g/t (0.1g/t cutoff)

Hole CDC-014

* 27m to 29m - 2m @ 1.1g/t (0.1g/t cutoff), including 1m @ 1.9 g/t (1.0g/t
cutoff)

* 128m to 132m - 4m @ 0.11 g/t (0.1 g/t cutoff)

The geotechnical drilling programme included 17 holes for 1976.5 metres, of
which seven intersected rocks associated with the dacitic intrusive complex and
three returned significant gold assays.

As the geotechnical drill holes were drilled at a spacing of 200 metres, as
required for the bankable feasibility study (BFS) for the copper project, and
have not covered the full extent of the area considered prospective for gold
mineralization, there is significant potential for the area to host a major
gold system. CRC will embark on a 50x50 metre drilling programme to ascertain
the extent of the mineralization and contained gold. The latter grid will bring
the new gold drilling up to a BFS standard as well. CRC will use the drill rig
still at site to complete this programme.

Chris Jordinson, CEO of CRC, stated, "The substantial gold discovery is
exciting, as it has the potential for increasing the returns and the Hinoba-an
project economics to a very attractive level."

This press release is based on information compiled by Mark Gordon, a fulltime
employee of CRC and a Member of the Australasian Institute of Mining and
Metallurgy, who qualifies as a Competent Person as defined in the 2004 edition
of 'The Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves'. Mr. Gordon has given consent to the inclusion in
this press release of matters based on this information in the form and context
in which they appear.

[pinhead3] 05/9/2006 08:06

I always thought Hinoba-an would be the project that made CRC. Huge capital required, now that we have gold to improve the NPV it's looking very good.

Still have Haib METS survey this month as well.

[addas99] 05/9/2006 08:04

Excellent news indeed...and we still have the revised copper resource estimate at Hinoba to come...looking like a very valuable site.

[pinhead3] 05/9/2006 07:40

Already marked up 3 1/2p, today could well see the end of the sub £1 level.

[pinhead3] 05/9/2006 07:30

Fantastic news!

'Copper Resources GOLD MINERALISATION DISCOVERED AT HINOBA-AN
Immediate Release 5 September 2006

COPPER RESOURCES CORPORATION

GOLD MINERALISATION DISCOVERED AT HINOBA-AN

COPPER PROJECT IN THE PHILIPPINES

LONDON, United Kingdom - 5 September 2006.

Assay results of cores from the recently completed geotechnical drilling
programme at the Hinoba-an Copper Project of Copper Resources Corporation (AIM:
CRC.L) ("CRC", "the Company") confirm gold-bearing mineralisation. These
results indicate the potential for a significant gold system to the northeast
of the main porphyry copper mineralisation at Hinoba-an.

Geotechnical drilling for the copper project at the northeast wall of the
proposed Don Jose ("DJ") open pit, intersected several intrusive dacites
(silica-rich igneous rocks) and associated hydrothermal breccias (rocks broken
by hot fluids). These rocks represent the feeder zone for dacitic and rhyolitic
(more silica-rich) volcanic rocks that represent the last phase of volcanism in
the belt (circa 13 million years). These late-stage volcanic events are often
associated with metal-rich fluids, which represent the last phase of volatile
release from the underlying magmas. It is these fluids that often cause the
brecciation, or else percolate through a pre-existing breccia and deposit
metals, including base metals, gold and silver.

Mark Gordon, CRC's Chief Geologist, interpreted that these units are
sub-vertical, and trend NW-SE, that is, parallel to the trend of the porphyry
copper deposit. The mineralisation is adjacent to the intersection of a
NW-trending structural zone and a SW-trending structural zone. The SW structure
extends to the Bulawan Gold Project, which is located at the intersection of
this and another NW trending zone 5km to the southwest of DJ. The Bulawan
project, which is also hosted in a similar age dacitic complex, produced some
300,000 ounces of gold before being put onto care and maintenance in 2002, due
to low gold prices.

Significant results show gold grades up to 1.9 g/t, and include the following:

Hole CDG-012

* 85m to 107m - 22m @ 0.35 g/t (0.1g/t cutoff), including 6m @ 0.9g/t from
92m (0.5 g/t cutoff, peak value 1.4 g/t)

* 142m to 161m - 19m @ 0.18 g/t (0.1 g/t cutoff), including 4m @ 0.38 g/t
from 147m

Hole CDG-013

* 99m to 101m - 2m @ 0.506 g/t (0.1g/t cutoff)

Hole CDC-014

* 27m to 29m - 2m @ 1.1g/t (0.1g/t cutoff), including 1m @ 1.9 g/t (1.0g/t
cutoff)

* 128m to 132m - 4m @ 0.11 g/t (0.1 g/t cutoff)

The geotechnical drilling programme included 17 holes for 1976.5 metres, of
which seven intersected rocks associated with the dacitic intrusive complex and
three returned significant gold assays.

As the geotechnical drill holes were drilled at a spacing of 200 metres, as
required for the bankable feasibility study (BFS) for the copper project, and
have not covered the full extent of the area considered prospective for gold
mineralization, there is significant potential for the area to host a major
gold system. CRC will embark on a 50x50 metre drilling programme to ascertain
the extent of the mineralization and contained gold. The latter grid will bring
the new gold drilling up to a BFS standard as well. CRC will use the drill rig
still at site to complete this programme.

Chris Jordinson, CEO of CRC, stated, "The substantial gold discovery is
exciting, as it has the potential for increasing the returns and the Hinoba-an
project economics to a very attractive level."

This press release is based on information compiled by Mark Gordon, a fulltime
employee of CRC and a Member of the Australasian Institute of Mining and
Metallurgy, who qualifies as a Competent Person as defined in the 2004 edition
of 'The Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves'. Mr. Gordon has given consent to the inclusion in
this press release of matters based on this information in the form and context
in which they appear.


Copper Resources Nabarro Wells & Hanson GTH
Corporation Co.
Westhouse Communications

Mitchell Alland Jonathan Naess Richard Morrison Toby Hall

Executive Vice Chairman

+44 (0) +44 (0) +44(0) +44 (0)

78 7569 5563 20 7710 7400 20 7601 6100 20 7153 8035 '

There was always an outside chance that there would be gold/silver & Molybendium deposits but for there to be 'substantial gold discovery' is excellent news. Sp should move upwards today for sure.

[pinhead3] 23/8/2006 15:00

Looks like you bailed too soon Drewz

'Kinshasa calmer after peace deal

UN peacekeepers and European troops are patrolling the city
Police and peacekeepers are patrolling the streets of the capital of the Democratic Republic of Congo, Kinshasa, after a deal to end factional strife.
Eight people died in gun battles that erupted on Sunday, after results from July's first round of voting emerged.

President Joseph Kabila fell short of 50% of the vote, prompting a run-off. His main rival for president, Jean-Pierre Bemba, gained about 20%.

The two signed a deal on Tuesday to withdraw forces from the city centre.

Bodies of those killed in the violence remained strewn across the streets of Kinshasa as an uneasy calm returned to the capital on Wednesday.

There were some incidents of looting, and occasional shots were heard in the city, the BBC's Said Penda reports from Kinshasa.

The police have orders to arrest anyone carrying a weapon illegally.

Reinforcement

Earlier on Tuesday, more than 200 soldiers from several European countries flew into Kinshasa from neighbouring Gabon, to reinforce about 1,000 EU peacekeepers already in Congo.

DR CONGO RESULTS BY PROVINCE

NATIONALLY:
Joseph Kabila: 45%
Jean-Pierre Bemba: 20%
Antoine Gizenga: 13%
Nzanga Mobutu: 5%
Oscar Kashala: 4%
Turnout: 70%
Source: CEI


Violence in pictures
Fighting mars peaceful poll
The deal to end the violence was reached under pressure from the United Nations following three days of clashes.

Mr Kabila called for the withdrawal of government troops after meeting diplomats of the international committee overseeing the DR Congo's transition to democracy (CIAT).

Mr Bemba, a former rebel leader and a vice-president in the national unity government, also ordered his supporters withdraw to their original positions.

He retains his own personal security force but is now under UN protection.

Dialogue

A joint statement by UN Secretary General Kofi Annan, the UN Mission in the Congo (Monuc) and CIAT said the conflict must resolved through dialogue.

"The solution to end the differences opposing President Kabila's militia and that of Vice President Jean-Pierra Bemba is political and not military," the statement said.

Neither faction in DR Congo accepted responsibility for starting the recent fighting.

"An investigation will be opened to determine what started the exchange of fire," a presidential spokesman told AFP news agency.


The fighting has prompted some residents to flee Kinshasa
Mr Bemba's spokesman Germain Kabinga told the BBC's Focus on Africa programme that the opposition leader was still committed to the run-off but that the UN should create a buffer zone between the two camps.

"We really want to go to the second round. We don't want to restart the war," he said.

After the election results were declared, Mr Kabila appeared on state television, saying he had won a "great victory".

Some of his rivals, including those from Mr Bemba's party, say there was widespread fraud in the elections.

The 30 July election was intended to be the first fully democratic poll to be held in the country since it gained independence in 1960.

It follows the official end of a five-year conflict, which dragged in several other African countries and led to the death of more than 3m people.

The results show a regional division in DR Congo, a country two-thirds the size of western Europe.

Mr Bemba won most votes in the west of the country, while Mr Kabila gained most support in the Swahili-speaking east. '

[adam] 23/8/2006 14:35

It is high risk. I am fairly sanguine though about DRC. 1) The stability (relative) there is underwritten by the U.N which has its largest force there and biggest expenditure. They recently sent even more troops. 2) The guy we want to win won 40% whereas the guy we don't want to win won 20%. The run-off is required because our guy didn't get 50%. Even though the run-off is likely going to be closer, it looks favourable for the incumbents to win. 3) The country is regional. The bit where CRC has its mine is in the 'good guys' stronghold



4) DRC is the size of Western Europe. Any fighting in the same country is usually 'countries' away in normal country terms.

[pinhead3] 23/8/2006 14:23

Drewz
CRC is more than just a one country trick, the news coming out in the very near future will be on Hinoba-an (Phillipines) & Haib (Namibia) not just Kinsenda (DRC).

[drewz] 22/8/2006 21:34

You could be right, Turkey, I might be quite wrong and it might keep going up for the forseeable future. But I very much doubt it.

I find the political unrest there, which is escalating by the day, very troublesome. I expected the price to be tumbling today.

Fwiw, I have sold my modest stake in CRC and hold no position now.

I believe Weatherley (WTI) looks a much more secure copper play in Namibia.

[wassapper] 22/8/2006 21:28

There is a problem re a meeting. I have asked their broker to arrange, but as the requests have come from individuals and not institutions they say it is not possible for them to do it. I have asked them to present at a Minesite instead and see what the response may be.

[Abuse team] 22/8/2006 20:44

Post removed by ADVFN

[turkey3] 22/8/2006 20:44

drewz,

shut up!u don't know what your talking about.....

[drewz] 22/8/2006 20:16

I see a price correction coming, and it could well be be severely downwards as this stock is heavily shorted on political unrest in DRC putting their assets there at risk.

Back to 40p - 60p range before you can blink.

This is a highly speculative ultra high risk investment.

[bratoks] 22/8/2006 16:22

Amazing results, try now:

[nikesh2] 22/8/2006 16:05

short term price target is now 140p within a month, i see a chart breakout/price correction coming

[nikesh2] 22/8/2006 14:02

this is looking very interesting, time for the price correction.
something is happening because you can buy 1grand online and that is it.
i have watched this for over 1 year daily and pinhead i agree with your 110p target.

[addas99] 22/8/2006 08:43

Maybe there was a broker's note published yesterday, perhaps a tip sheet mention...if not news is leaking because, as you say, something's very definitely up one week prior to their AGM. A new high looks very likely.

[pinhead3] 22/8/2006 08:29

Something's definitely up, 110p next stop assuming any news.

[caspianholdsingscsh] 21/8/2006 13:50

Volume cranking up over at CLN.

The coal boom is coming!