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Additional information
Additional Information
Market: ASX
Sector: General Mining
Epic: CUO
News: Latest news
Web Site: CopperCo Limited
Other Articles: 18-07-200815-07-200806-06-2008

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CopperCo Limited

CopperCo Limited is a public company listed on the Australian Stock Exchange (“ASX”) (“CUO”).  CopperCo commenced copper production from the first of five ore bodies in October 2007 at the Lady Annie Operations (“LAO”) located approximate 120 km north of Mt Isa.  The mine employs the heap leach solvent extraction – electrowinning technology (“SX-EW”) which accounts for approximately 20% of the world’s copper production.  Lady Annie is producing at an annualised rate of 19,000 tonnes per annum (“tpa”) of copper cathode and will increase production to 30,000 tpa early in 2009.

 

Company information about: CopperCo Limited
Thursday, November 29, 2007

Mineral Securities Chairman outlines vision

Robert Champion de Crespigny, Chairman of Mineral Securities (AIM/ASX: MXX) ('MINSEC') outlined his vision on the future for the Company to shareholders in the annual report today.

During the year, Scarborough Minerals and Mineral Securities merged, bringing together two of the mining industry's most regarded businessman, Robert Champion de Crespigny and Keith Liddell.

In his annual statement, the Chairman described the new company as a "21st century mining house" that invests in companies that need assistance in realising the value of their assets.

The Chairman added that while the business environment had been volatile, buoyant commodity prices had made many resource businesses 'remarkably profitable' and highlighted several large acquisitions in the industry that had been funded entirely through cash flow. Acquisitions were being driven by low organic growth options for the larger resource groups.

This trend in the industry was a 'two-edged sword' for Minsec. Its own equity investments in several companies had risen in value 'substantially' in the last 12 months, but at the same time investing in new projects were more challenging due to higher valuations and easier access to capital. As a result, the Company had instead focused on increasing its stakes in companies it already knows well, including Platmin, CopperCo and Tianshan Goldfields.

Robert Champion de Crespigny added:

"I believe we now have in place the beginnings of a special team of people who will add considerable value to your investment in Minsec in the years ahead and I look forward to reporting to you on our progress."

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Disclaimer

This document is intended solely for the information of the particular person to whom it was provided by Proactive Investors Australia Pty Ltd and should not be relied upon by any other person. Although we believe that the advice and information which this document contains is accurate and reliable, Proactive Investors Australia Pty Ltd Limited has not independently verified information contained in this document which is derived from publicly available sources, directors and proposed directors and management. Proactive Investors Australia Pty Ltd assumes no responsibility for updating any advice, views, opinions, or recommendations contained in this document or for correcting any error or omission which may become apparent after the document has been issued. Proactive Investors Australia Pty Ltd Limited does not give any warranty as to the accuracy, reliability or completeness of advice or information which is contained in this document. Except insofar as liability under any statute cannot be excluded, Proactive Investors Australia Pty Ltd Limited and its directors, employees and consultants do not accept any liability (whether arising in contract, in tort or negligence or otherwise) for any error or omission in this document or for any resulting loss or damage (whether direct, indirect, consequential or otherwise) suffered by the recipient of this document or any other person.

This document has not been written for the specific needs of any particular person and it is not possible to take into account each investor’s individual circumstances and that investors should make their adviser aware of their particular needs before acting on any information or recommendation. Proactive Investors Australia Pty Ltd Limited, its employees, consultants and its associates within the meaning of Chapter 7 of the Corporations Law may receive commissions, underwriting and management fees, calculated at normal client rates, from transactions involving securities referred to in this document and may hold interests in the securities referred to in this document from time to time.

Disclosure of Interest

Proactive Investors Australia Pty Ltd and its associates may have owned shares in the above company as at the date of the report. This position is subject to change without notice.