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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.

 

Friday, June 06, 2008

Mineral Securities extends merger deadline with CopperCo

Mineral Securites extends merger deadline Mineral Securities (AIM/ASX: MXX) announced that it had agreed an extension to the deadline for CopperCo to despatch its Offer documents to 30 June 2008.

The Mineral Securities and CopperCo merger will create a company with extensive interests in base and precious metal projects across the globe.

CopperCo is currently producing copper in Australia, while Mineral Securities key assets are equity stakes in Tianshan Goldfields, Platmin, Herencia Resources, Chaarat Gold, and a 25% interest in the Lady Loretta Zinc Project in Australia. The remaining 75% of Lady Loretta is held by Xstrata.

Mineral Securities and CopperCo also said that they had decided that due to a larger proportion of the combined group's operations being in the southern hemisphere, it made sense to maintain headquarters in Australia rather than London. Subsequently, the independent directors of Mineral Securities would be invited to join the board of CopperCo on completion of the merger.

In addition to the update on the CopperCo/Minsec merger, Mineral Securities also confirmed that its interest in ASX listed NiPlat's had been reduced from 44.1% to 40.11% following a share placement.


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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.