Home / Metal News / Aluminium / Copper Development Strategic Focus Now On Basay Project
Copper Development Strategic Focus Now On Basay Project
Feb 16,2012 16:54CST
industry news
Source:SMM
Copper Development Corporation plans to pursue a trade sale or joint venture of the Hinoba-an Project following the issuance shortly of a comprehensive technical report on the project.

LONDON, Feb 16, 2012 (Dow Jones) -- Copper Development Corporation (CDC.LN), said Thursday that its strategy is now to focus on the Basay Project and, consequently, plans to pursue a trade sale or joint venture of the Hinoba-an Project following the issuance shortly of a comprehensive technical report on the project.

Main Facts:
-Continuing drill results at the Basay Project are showing long, high-grade intersections that, together with magnetic and induced polarization ground surveys, increasingly support the structural model for the continuity of mineralization in the deposits and the potential for Basay to develop into a major world class copper project.

-The company's change in strategy is also being made in response to recent interest in Basay shown by several international mining companies.

-The company believes that directing its technical and financial resources to the Basay project going forward, in light of its potential to be a world class copper project, will accelerate its potential development and maximize value for shareholders.

-Shares closed Wednesday at 28 pence, valuing the company at GBP60.56 million.
 

Copper Development Corporation;copper project

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn