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CUO, COPPERCO LIMITED
minimumtrade
post Posted: Aug 6 2007, 10:38 AM
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In reply to: gerkin02 on Monday 23/07/07 06:55pm

CUO not doing too well over the past week.

I think its pretty unjustifiable, CUO looks to be a great company with a solid resource base, and strong management.

They have hedged a lot of their copper output too.

 
RADIO
post Posted: Jul 30 2007, 03:46 PM
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Recent ShareScene.com Radio Broadcast (24/07/2007 10:30:00):
CUO - Lady Annie Chalcocite Mineral Resource Estimate - Mr Brian Rear, MD

N.B. ShareScene.com Radio can normally be accessed by the 'RADIO' link, top of every page.
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ShareScene.com Radio delivers investor presentations from ASX listed companies. Keep up to date with the latest corporate dealings of the shares you follow. Hear news direct from the source. Listen to directors and investor relations mangers discuss their company, give investor updates and brief on current results. ShareScene.com Radio keeps you informed about company announcements and events, and provides you daily market wraps and industry discussions.
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gerkin02
post Posted: Jul 23 2007, 06:55 PM
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In reply to: pete152 on Wednesday 04/07/07 04:20am

Price pushed through $1 today.
Good drilling results,production close.
Definately one to watch.HOLDING.

 
pete152
post Posted: Jul 4 2007, 04:20 AM
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It was very good, should continue today I feel.
Cheers,
Peter



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www.gettrapped.com
 
nizar
post Posted: Jul 3 2007, 11:32 PM
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Nice breakout today.



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My posts express my opinions and thoughts and do not constitute financial advice.
Please consult a professional financial advisor and/or do your own research before investing.
 
RADIO
post Posted: Jun 29 2007, 04:13 PM
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user posted image
Recent ShareScene.com Radio Broadcast (22/06/2007 12:30:00):
CUO - Lady Annie Copper Project - Ore Mining Underway - Mr Brian Rear, MD

N.B. ShareScene.com Radio can normally be accessed by the 'RADIO' link, top of every page.
-------------------------------------------------------------------------------------------------------------
ShareScene.com Radio delivers investor presentations from ASX listed companies. Keep up to date with the latest corporate dealings of the shares you follow. Hear news direct from the source. Listen to directors and investor relations mangers discuss their company, give investor updates and brief on current results. ShareScene.com Radio keeps you informed about company announcements and events, and provides you daily market wraps and industry discussions.
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sally1
post Posted: Jun 26 2007, 06:54 PM
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Thanks for that Vegemite, the smile gets bigger laughingsmiley.gif

 
vegemite
post Posted: Jun 26 2007, 05:15 PM
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In reply to: sally1 on Saturday 23/06/07 10:02am

June 25, 2007

Lady Annie Close To Delivering For Copperco

By Our Man In Oz

When a project can be shown to have an after-tax net present value of A$500 million and the company which owns it a stock market capitalisation of A$317 million you have what a geologist would call an anomaly, and a perfect place to start an exploration program. What’s good for our rock-kicker in his search for anomalies should be good enough for investors because that equation is precisely what can be found today at CopperCo, a small Australian company making surprisingly brisk progress with its Lady Annie project near Mt Isa in central Queensland. Long-known as a potential mine, but never developed because of low copper prices and a complex ownership structure, Lady Annie is on the verge of delivering what previous owners dreamt about, and by mid-August should be producing premium-quality copper cathode.

Start up target for the heap-leach Lady Annie project, which will start “irrigating” its ore pads in a couple of weeks, is 19,000 tonnes of copper a year, rising quickly to 25,000 tonnes . With an average ore grade of just 0.95 % copper the financial model for the Lady Annie project did not make sense at a time of low copper prices. Today, the model is robust to say the least. According to CopperCo it can recover 25,000 tonnes of copper a year for an all-up cost of US84 cents a pound. With copper still trading around US$3.35 an idea of the profits likely to be generated can be gauged. CopperCo’s own financial model assumes a base case copper price of US$1.60/lb, and the total recovery over a number of years of 167,000 tonnes of copper cathode to generate pre-tax and depreciation earnings of A$502 million. But, boost the copper price to closer to the current market and you start to get the gee-whiz numbers, such as the A$500 million net present value.

For Brian Rear, chief executive of CopperCo, the financials are a tempting carrot being dangled in front of him. He has spent the past two years assembling the team which is building Lady Annie, and which has a vision to go far beyond the start-up 19,000 tonnes, or the first stretch target of 25,000 tonnes. Rear is already thinking 35,000 tonnes of a copper a year, a production rate which would really put CopperCo on the world metal map. “Right now we’re at what might be called the exciting and stressful end of the business,” he told Minesite from his Perth office. “Irrigation should start towards the end of June, and we’ll fire up the solvent extraction, electro-winning (SX-EW) plant towards the end of July.” In a statement to the ASX on Friday, CopperCo reported a start on mining, and an expected start of crushing today. The official date for first copper cathode is mid-August.

Rear said construction work at the project, which incorporates a series of open-pit mines and centralised processing plant, had been an interesting experience in a climate of sharply rising costs. “We’re pretty confident that we’ll keep the total cost, when we’ve paid the last bill, sometime around September to around A$86 million, but we’ve had to manage jobs every inch of the way.” An example cited by Rear was a contract for two mild steel tanks, which he described as a relatively simple process. CopperCo’s budget for the tanks was A$400,000. The cheapest bid for the work was A$1 million, and the highest A$2 million – a delicious example of how costs have run rampant in the Australian resources sector. “Rather than accept the lowest tender, we bought the steel, had it rolled, the guys are putting it up on hourly rates, and it’ll come in at A$400,000.” Rear said the ability to keep costs down could also be attributed to the modest strip ratio in the pits, access to grid electricity from Mt Isa and modest acid consumption in the irrigation process.

Perhaps more interesting than CopperCo’s 19,000 tonne start up operation are the expansion plans which are starting to occupy more management time than the finishing touches to site work. Rear said he is keen to push ahead rapidly to the first stretched production target 25,000 tonnes and the next objective of 35,000 tonne. The financials explain why. At 19,000 tonnes, Lady Annie is expected to generate revenue of A$140 million, with the company keeping more than half thanks to an EBITDA margin (earnings before interest, tax, depreciation and amortisation) of 53 per cent. Just going to 25,000 tonnes lifts revenue to A$185 million and the EBITDA margin to 59 per cent. No financials are yet available for the 35,000 tonnes, but it is reasonable to assume that they will be better still because of the benefits of scale.

If there is a subject guaranteed to get Rear more excited than completing construction at Lady Annie it is exploration, and the potential to significantly expand CopperCo’s operations thanks to holding one of the best tenement packages in the rich Mt Isa copperbelt. “We’ve got a big program going on exploration,” he said. “The annual spend is running at between A$10-and-A$12 million, and some of the results are looking very good, especially in the chalcocite zone under the oxides at Lady Annie.” On June 12, CopperCo reported an extremely encouraging intercept in that zone, with a best assay of 51 metres at 1.29 per cent copper starting at a depth of 97 metres, and an eight metre zone in a separate hole grading 2.24 per cent copper from a depth of 95 metres.

Rear said he was confident that with the known resource, and ongoing exploration, CopperCo would be able to “bank” by the end of the calendar year a 30 million tonne resource grading 1 per cent copper. “That sort of number might goad us into an early decision to go to 35,000 tonnes of copper a year,” he said. “We’ve had a great run at site, and when I think about the work we’ve done, we’ve more than doubled the resource base, and we’ve got a lot of exploration to go.”


 
sally1
post Posted: Jun 23 2007, 10:02 AM
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Just keep getting better biggrin.gif

 
sprint
post Posted: Jun 22 2007, 07:34 PM
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cuo seems to be the quite achiever. there seems to be no interest in this s c cuo site and the share price of cuo keeps going up.???? cheers

 
 


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