Copper Development Strategic Focus Now On Basay Project-Shanghai Metals Market

Hot Keywords

  • Zinc
  • MMi Iron Ore Port Index
  • Copper scrap
  • Copper
  • Market commentary
  • Aluminium
  • Nickel
  • price
  • Macroeconomics
  • Futures movement
  • Iron ore
  • Evening comments
  • Inventory data
  • battery
  • Production curbs

Copper Development Strategic Focus Now On Basay Project

Industry News 04:54:49PM Feb 16, 2012 Source:SMM

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.
 

Price

more
Aluminum Ingot
Jul.24
13790.0
-10.0
(-0.07%)
Aluminum Ingot - Fo Shan
Jul.24
13780.0
10.0
(0.07%)
Aluminum Ingot - Wu Xi
Jul.24
13780.0
-10.0
(-0.07%)
Aluminum Ingot - Hang Zhou
Jul.24
13805.0
5.0
(0.04%)
Aluminum Ingot - Chong Qing
Jul.24
13780.0
-10.0
(-0.07%)

Copper Development Strategic Focus Now On Basay Project

Industry News 04:54:49PM Feb 16, 2012 Source:SMM

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.