# CUO - Copperco Limited



## tdkx669 (30 December 2005)

HI
Yesterday Macquarie Bank bought 3 milion worth of CUO shares at 1.7 Cents. Any one think its good buy.
cheers


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## johnno261 (31 December 2005)

*Re: CUO Worth Buying?*



			
				tdkx669 said:
			
		

> HI
> Yesterday Macquarie Bank bought 3 milion worth of CUO shares at 1.7 Cents. Any one think its good buy.
> cheers




I was aware MBL was buying in just after Xmas and when I could see that there was truth behind that rumour I purchased just a small parcel of a mill @ 1.9 cents on the same day as MBL's . Chartwise good buying opp. now. Rerating in the new few weeks,MBL taking a stake, well worth a buy IMHO! Worse case scenario, I do my balls with 19K. Big deal I say.
Management have alot of experience under the belt.Big issue of shares, but i look @ OXR and if the can move from 80 cents mid year to their s/p of now well any share can move!!!!!


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## pete152 (1 January 2006)

*Re: CUO Worth Buying?*

Yes I have a few in CUO. I think it could be on the way now, but I have picked some shockers in the past so make your onw mind up.
Cheers,
Peter


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## jet-r (10 April 2006)

This thing has finially started to move. has gone up 8% today dispite the negative trading mood today. 

and look at the major holders

Mineral Securities 	8.6 %
A Torresan 	7.7%
Schroder Investment Management Group 	7.7%
JP Morgan Nominees 	7.6%
Macquarie Bank 	6.1%

37.7% in total held by those big names.

anyone has done research about this little fella..?


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## jet-r (10 April 2006)

*Re: CUO Worth Buying?*



			
				johnno261 said:
			
		

> I was aware MBL was buying in just after Xmas and when I could see that there was truth behind that rumour I purchased just a small parcel of a mill @ 1.9 cents on the same day as MBL's . Chartwise good buying opp. now. Rerating in the new few weeks,MBL taking a stake, well worth a buy IMHO! Worse case scenario, I do my balls with 19K. Big deal I say.
> Management have alot of experience under the belt.Big issue of shares, but i look @ OXR and if the can move from 80 cents mid year to their s/p of now well any share can move!!!!!





johnno , big congrates to you if you are still holding.  thats 20k profit in 3 months.


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## jet-r (11 April 2006)

up another 10% this morning and now in trading Halt!!!

Quoted:
" the trading halt is requested pending finalisation of an announcement regarding the final results arising from completion of the Feasibility study on the Lady Annie Copper Project"


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## jet-r (13 April 2006)

feasibility study report is due to be announced today.. 
keep an eye out for it guys..


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## YOUNG_TRADER (19 April 2006)

Huge volumes on this stock, it looks like a day traders stock or is there actual investment going on?

I read feasibility (I'm not a big fan of copper as a stand alone) but given that it now sits @ $3 US/lb well lets just say am re-thinking copper views.


Anyone have a proper run down on this?


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## yogi-in-oz (26 April 2006)

Hi folks,

CUO ..... report well-received by the market, today.

Price up, with good supporting volume, as well ... 

happy days

 yogi


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## raja71 (26 April 2006)

Hi Guys,

Do you think this stock is more of a long-term hold until they begin to realise asset mentioned in main announcement ..or.. do you see it talking off in the short term due to potential?

Cheers raja71


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## jet-r (26 April 2006)

I think this is long term one.
Just have a look at the major shareholders. more than 40% of the shares are held by institutions. Their decisions are usually backed by extensive research. 

JP Morgan Nominees 	9.4  (Increased their holding 2 weeks ago)
Mineral Securities 	8.6
A Torresan 	7.7
Schroder Investment Management Group 	7.7
Macquarie Bank 	6.1

quoted from the feasibility report released on 12th Apr


> 'The Company has been in detailed discussions with a number of financial institutions and off-take parties in respect of the Project’s capital development requirements. Based on a consistent response as to debt carrying capacity and preliminary financing proposals, and strong interest in off-take arrangements, the Company believes a project finance facility and subordinated financial support related to off-take, of between $50 million and $60 million can be arranged. The Company intends to complete adjudication of finance and off-take offers shortly with the intention of concluding such arrangements during May 2006"




I am sure those institution who hold millions of CUO share will ensure the project get financed.

ALso, have a look at the ann. on the 24th. Linq resources and Mineral security  Limited agreed to issue an $2,000,000 unsecured loan to CUO at a interest rate of 9%(quite low for a unsecured loan, my car loan is 12%) repayable by 30th June 2006(that is within 2 months time). 
If you look at CUO's balance sheet today. They have less than $1mil cash in hand. What does that tell us? Those two companies better be 100% or 99.99% sure that CUO will get the finance before 30th June otherwise the loan repayment clause will send CUO bankcrupt and they will get jack**** back. I am sure JP Morgan and Mac bank wouldnt want that to happen.

and if you have a look at how EXT's sp shoot from 3cents to 10 cents within a week after they have announced that they got the finance from 3 UK investors.


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## Brissydave (31 May 2006)

Geez ... Thank you CUO for giving me some green on a red day ... good announcement out today


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## johnno261 (1 June 2006)

*Re: CUO Worth Buying?*



			
				johnno261 said:
			
		

> I was aware MBL was buying in just after Xmas and when I could see that there was truth behind that rumour I purchased just a small parcel of a mill @ 1.9 cents on the same day as MBL's . Chartwise good buying opp. now. Rerating in the new few weeks,MBL taking a stake, well worth a buy IMHO! Worse case scenario, I do my balls with 19K. Big deal I say.
> Management have alot of experience under the belt.Big issue of shares, but i look @ OXR and if the can move from 80 cents mid year to their s/p of now well any share can move!!!!!





Well well well,
                   For my 1 million share parcel @ 1.9cents sold at an average of 40.5cents. Initial outlay was $19k for a return of  a little over $400k. So much for doing my balls hey!!!!! LOL all the way to the bank I say!!


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## nizar (1 June 2006)

OH MY GOD

Well done Johnno

I remember when this was like 3 cents NOT LONG AGO

Has taken off in a big way


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## johnno261 (1 June 2006)

nizar said:
			
		

> OH MY GOD
> 
> Well done Johnno
> 
> ...




Well it was 1.9cents 6months ago!! NIZAR watch PNA over the next 12-18months.Returns there will be very good too!!


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## johnno261 (1 June 2006)

*Re: CUO Worth Buying?*



			
				johnno261 said:
			
		

> Well well well,
> For my 1 million share parcel @ 1.9cents sold at an average of 40.5cents. Initial outlay was $19k for a return of  a little over $400k. So much for doing my balls hey!!!!! LOL all the way to the bank I say!!





NIZAR this was the biggest % gain I have ever benefited from!! Sensational!!


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## eddievanhalen (1 June 2006)

And also the biggest load of cr@p someone has tried to put over a forum in a long time.  Fair enough if it was an honest mistake but Mr Johnno reckons he banked 400k on an outlay of 19k - that makes it a barefaced lie   

On 12th May every 10 shares in CUO were consolidated into 1 (ie.  1.9c becomes 19c)..............so instead of the 2000% gain that is claimed he actually made just over 100%.  And that's assuming he did actually buy and sell at the prices specified. 400k my @rse.

I don't post often but when I see this sort of rubbish .........  

Nizar - take this as an example of some of the tripe that people try and pull on sharetrading forums.  In this case the offender was caught with his pants down because he didn't do his homework .

Ed


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## BSD (1 June 2006)

Ha ha ha, 

I actually hope he thought his stock was worth $400K! Muppet


Stunning drill results though from CUO recently. 

Once the stale bulls are gone, $0.50 ($0.05) is an easy target. On fundamentals, only a punter or chartist would sell.


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## jet-r (1 June 2006)

*Re: CUO Worth Buying?*

are you sure Johnno? For every 10 CUO's shares you have bought have been converted into 1 share. So your 1million shares would now be 100,000 shares, now worth 40k.

21k profit is still good. 




			
				johnno261 said:
			
		

> Well well well,
> For my 1 million share parcel @ 1.9cents sold at an average of 40.5cents. Initial outlay was $19k for a return of  a little over $400k. So much for doing my balls hey!!!!! LOL all the way to the bank I say!!


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## nizar (1 June 2006)

yeh lol i just realised about the 1:10 consolidation


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## michael_selway (1 June 2006)

nizar said:
			
		

> yeh lol i just realised about the 1:10 consolidation




hehe this is funny!

did johhno actually check his bank/chess account?

thx

MS


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## jet-r (2 June 2006)

he would be massively disappointed!
WHERE IS MY $350k!!!!!!!!!!!!!!!!!!





			
				michael_selway said:
			
		

> hehe this is funny!
> 
> did johhno actually check his bank/chess account?
> 
> ...


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## stockmaster (11 July 2006)

CUO seems to be a steady small size copper company. It has jumped from 40c at the beginning of this month to a hgih of over 50c today, this is the highest price for the past 5 years. The jump is supported by "03-Jul-06 12:41  	CUO 	MSX: Increased Investment in CopperCo Limited ". Also the effect from AUM, since both company has some similarity in term of its project. Has CUO achieved its maximum in short term or are there still space to move higher (it has reached over $10 before - another AUM?).


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## stockmaster (13 July 2006)

CUO has added another 0.25 c today up over 5% after a strong day for most resource company. Copper continued its rally now, up by 4%. and shall help CUO to rise for another 5% tomorrow. Worth for a watch


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## BSD (23 February 2007)

Check out the latest CUO announcement gentlemen. 


Company is upgrading annual production forecasts to 25,000tn of copper from around 17,000tn in the existing BFS. 

Costs per pound falling to below $0.70lb on update. 

*Increase in project NPV by 50% to above $0.70 per share at $2.00 copper. * 

Plenty of upside from current $0.54 price with production in under a year and copper prevailing way above $2.00

Note also that major shareholders LRF and MBL remain holders.

A high quality team close to production with further upside IMO.


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## vicb (26 February 2007)

Takeover bid maybe??
Any ideas???


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## The Barbarian Investor (30 June 2007)

Up at $0.80 At the moment

Picked this one up a a couple of weeks ago along with TTY and looking to hold both for a while for their potential


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## jman2007 (30 June 2007)

Also picked up a bunch of these around the $0.66 mark, now looks to be generating good support around the $0.78-$0.79 mark, has held up well this week considering the recent market jitters.

I believe there is a lot of potential growth to be had in this beast, definitely one of the best Cu plays on the ASX. Once full-scale production beigins we should see this one moving again.


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## master_luke (3 July 2007)

I got in this at 70c just before the breakout... it has hit 85c today.

Very strong fundamentally with good management team, MBL backing, and strong resource base expected to be further upgraded in the near future.

Copperco has the vision of becoming the next Australian blue-chip Mining company.

Im in this one for the long haul.


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## jman2007 (4 July 2007)

Yep, nice little mini-breakout today and touched on $0.85.  Definitely one to keep in your porfolio for the long-run.  You have to admire the way these guys actually get on with the job rather than just talking about it.
The market might just be waking up to the potential of CopperCo, you might want to strap in and hang on for the ride!


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## jman2007 (12 July 2007)

Hmmm, heavy trading volumes this morning, around 1.5M changing hands.  Might be some news in the pipeline perhaps?  Looks to be striking some resistance at the 90c mark.


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## jman2007 (17 July 2007)

jman2007 said:


> Hmmm, heavy trading volumes this morning, around 1.5M changing hands.  Might be some news in the pipeline perhaps?  Looks to be striking some resistance at the 90c mark.




Broke thru 90c barrier this morning, on the back of no news from CUO for a while, which is a good sign.  Next pyschological barrier will be 1.00, but looking good to eventually push on thru on the back of more news from Lady Annie.


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## The Barbarian Investor (13 September 2007)

*Bump*

I've been happy with this stock so far, seems to be holding up well

Wish I got on board when MBL did though


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## michael_selway (15 September 2007)

Does CUO have a limited mine life?

*EPS(c) PE Growth 
Year Ending 30-06-07 -2.3 -- -- 
Year Ending 30-06-08 18.0 5.5 -- 

Earnings and Dividends Forecast (cents per share) 
2006 2007 2008 2009 
EPS -0.2 -2.3 18.0 19.6 
DPS 0.0 0.0 0.0 5.0 *

Thanks

MS


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## jman2007 (3 October 2007)

michael_selway said:


> Does CUO have a limited mine life?
> 
> *EPS(c) PE Growth
> Year Ending 30-06-07 -2.3 -- --
> ...




Hi Michael,

I am unsure what the expected mine life of their flagship project, Lady Annie currently is. Tbh, I get the impression that the dimensions in some of the lodes have yet not been fully constrained and that we can expect some of this information to be factored into the resource model in the future. But really, for a company to now be in full-scale production after it's inception after only 2 years is an incredible achievment.

Remember that CUO have an impressive array of at least 10-11 drill-ready targets such as Buckley River and Lady Maggie and that future share price levers may hinge more on their exploration success, rather than resource extensions at Lady Annie.

Cheers!
jman2007


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## jman2007 (24 December 2007)

Hey troops,

Time to spark this thread up again I think.  

CUO continue to add tonnage to the Lady Annie Global resource, the Anthill prospect has returned 3.9MT at 1.1% Cu.  The global Lady Annie Project Mineral Resource inventory now stands at 40 Mt at 0.9% Cu for 358,700 tonnes of contained copper metal underpinning a potential expansion to achieve a 30,000 tpa annual copper production rate.

The global Mineral Resource inventory now established represents an *86% increase in tonnage and contained copper compared to one year ago.*

I said back in October that further sp triggers would hinge more on exploration success, and this seems to be the way it's playing out.  Resource extensions this year have been largely achieved in incremental fasion, and not all in the same place.  IMO, this has gone largely unnoticed by the market.

To underpin a 10yr 30,000tpa operation at Lady Annie, they need 300,000T of contained Cu, and they have achieved this.  The exploration budget for 08 will most likely reflect the increase in exploration in the coming 12 months.


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## muddy waters (4 January 2008)

I 've had a nice ride on CUO and thought I would reinvent the wheel with URL (next door neighbour  to CUO and Mt ISA)

Purchased @ 0.096c and is now about 0.091c a year later.

Anyone heard any good oil on URL - I couldn't find a thread.


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## jman2007 (29 January 2008)

*CopperCo and Mineral Securities Merger* by way of takeover offer by CUO:

This is a *damn* ballsy move by CUO.  Basically the rationale is that the merger of the two companies will create a company with exposure to both base and precious metals, a fairly unique combination, and create a company with a MC of around 530M. Here is some dirt on the previously unheralded Mineral Securities:

Dual listing on the ASX and Londons AIM market.

Strategic stake in a range of base and precious metal companies and assets including:

Platmin - Platinum
Sappes Gold - Gold
Tianshan Goldfields - Gold
Lady Loretta - Lead/Zinc

On the face of it, the new Board of Directors looks very strong, and I guess CUO realised they needed to diversify to reduce single commodity risk.  The new company would be ranked 5th out of 40 companies in the FTSE AIM Basic Resource Index.  The combination of Lady Annie (producing) and Lady Loretta (production decision this year) will provide a stable cashflow, while the demand for platinum is driven by different market forces.

Exciting times for CUO holders 

jman


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## jman2007 (17 February 2008)

Any CopperCo/Minsec holders have any comments?

I guess there was always a fairly high level of synergy between the two Boards and the two companies also hold leases in close proximity to each other.

Unsure at this stage if the power grid problems in SA could mean a sustained period of high platinum prices, but a 25% strategic stake in Platmin could prove to be a good long-term move for the "New CopperCo".

Sp coming under some pressure as of late, some of the techies may have some comments on this.

jman


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## monkeybusiness (10 March 2008)

Hi, does anyone have any idea what's happening with Copperco, from trading halt and suspension today? Does this bear well for the market price?
Cheers


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## jman2007 (11 March 2008)

monkeybusiness said:


> Hi, does anyone have any idea what's happening with Copperco, from trading halt and suspension today? Does this bear well for the market price?
> Cheers




Well the announcement today states that the suspension is to finalise documentation related to the expansion phase for Lady Annie, so barring any other news and eventualities, this is what is happening. Once the private placement is in place, I wouldn't expect this to have a huge impact on the current sp price, although it will confirm to the Market CUO's committment to Lady Annie, and will be an interesting test of their ability to stick to a tight schedule and get Lady Annie going ahead all guns blazing.

jman


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## TheIceMan (18 March 2008)

Well, what a dud this is turning out to be. At year low, I believe.

I think the proposed merger would have to be under some doubt due to the falling SP. Those who took up the placement at 54c would already be starting to wonder. Will the MXX offer have to be revised ? Is there something else going on behind the scenes that we are not aware of ? Have we hit the bottom ?

Ah, too many questions.


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## Tubbles (19 March 2008)

Hi 

I bought a small holding yesterday.

Any thoughts regarding their phosphate potential?

They have a small inferred resource of 2MT @ 18.3% P205 on EPM11660 and tenements in the Georgina Basin, Lady Annie region.

http://www.energy.qld.gov.au/zone_files/Commodities/491174.pdf


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## jman2007 (21 March 2008)

TheIceMan said:


> I think the proposed merger would have to be under some doubt due to the falling SP. Those who took up the placement at 54c would already be starting to wonder. Will the MXX offer have to be revised ? Is there something else going on behind the scenes that we are not aware of ? Have we hit the bottom ?




I for one am very concerned at the recent turn of events,

I am not aware of any major issues that would have forced such a dramatic re-evaluation to take place.  CUO was originally spawned from Mineral Securities, so now it looks like they are merging back together again.  MXX basically comprises of a group of finance, geological and metallurgical gurus whose job it is to evaluate and assess resource projects around the world.  If they see something they like, they purchase it and then spin it off as a new float, and that was how CUO was born.

Now if only I had my crystal ball handy...

jman


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## monkeybusiness (16 April 2008)

Eureka Report has a very informative article on Cuo/ Mxx this evening. Think l bought into more than l knew but great to see the share price rise finally today and maybe the 1/4 report tomorrow will also hold some joy. Also listened to interview with MD on www.brr.com (14/4) which was confident.
Cheers


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## jman2007 (17 April 2008)

The merger strategy has recieved a pretty luke-warm reception from the market so far. But the recent KPMG report is interesting, in that it values MinSec significantly more than the merger details would indicate (a "preferred" value of approx Aus $0.5B). 

It appears as though the recent glut of selling has dried up, and there is now a significant disparity between the numbers of buyers vs sellers, up 30% in two days. Received the CopperCo MinSec paperwork in the mail today, haven't really had a chance to look at it yet, but my back-of-the envelope calculations has Sappes in Greece sitting at about 500,000oz, but I need to do a lot more research into this project, although I've seen the words "high-grade" being thrown around.

jman


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## jman2007 (13 May 2008)

The price has been thrashing around a fair bit lately,

Probably a fair reflection of the mixture in sentiment towards the merger. On Friday a meeting will decide whether the merger goes ahead or not, I think it is going to be very close.

After agonizing for a while, I finally voted "yes", I know some MXX holders are not happy, and there are some reservations from the CUO quater, in inheriting some of MXX's associtated debt (?) I think for a long term outlook, diversification of CUO's assets will be important, a single commodity, single producing project does carry substansial risk. That's what clinched it for me in the end.

jman


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## Real1ty (21 July 2008)

Well the price has taken another hammering and today finished down nearly 6% on a day the market was up over 3%.

I'm not a holder but have been watching with interest.

Quarterly released today and while i have only skimmed though it, it looked very positive.

Anyone got any ideas on why this stock is being treated so harshly atm?


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## CAB SAV (21 July 2008)

Pretty sure falling sp is because of the merger & believe someone overseas had been selling recently,needed funds.Report today looks Ok. Stock looks very cheap, doesn't add up, getting flogged. Beware when stocks fall by this much on a good up day.


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## Aargh! (27 November 2008)

So we are now in voluntary administration after CUO failed to refinance debt. What happens now? Do I kiss all my money goodbye?


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## drillinto (30 November 2008)

November 29, 2008

That Was The Week That Was … In Australia
By Our Man in Oz >> www.minesite.com

Minews. Good morning Australia. It looks like your market staged a strong recovery over the past week. 

Oz. It does, though it depends on where you started counting. If restricted to last week only, then it was the boom returned with the key metals and mining index up an eye-catching 25.5 per cent. If looked at over the whole of November, it was simply a case of recovering lost ground, as prices effectively moved back to where they were at the end of October. If you continue that theme of one event cancelling out the other, it was the same at a corporate level with a very strong rise from BHP Billiton (BHP) on the index counteracting the heavy fall of Rio Tinto (RIO).

Minews. Well, if the numbers don’t provide a clear picture, then what was the mood like? 

Oz. Better, but once again you would have to say that the flow of news was evenly balanced, with the negatives almost cancelling out the positives. The negative situations at OZ Minerals (OZL) and CopperCo (CUO) took a lot of people by surprise. OZ was in a trading halt on Friday night as it renegotiated some of its debt facilities. That sort of renegotiation tends to frighten the horses at times when debt is hard to find. CopperCo looks somewhat worse, as administrators were called in after it failed to finalise a new debt and equity package. 

Minews. Okay then, let’s start this week’s review in a different way, by looking first at the corporate situations before covering the sectors. 

Oz. Good idea, because it’s the deals which provided much of the week’s news. The obvious starting point is debt, and the collapse of the proposed BHP Billiton merger with Rio Tinto. One key cause for the collapse of that deal, though there were others, was Rio’s high debt levels. The market was also relieved that BHP Billiton’s proposed new US$55 billion debt was now off the table. And you don’t have to be Einstein to see that debt also lies at the bottom of the troubles at CopperCo and OZ. In the case of CopperCo the company was killed when a “financing transaction”, as documents have it, collapsed. OZ, meanwhile, is also in the process of re-arranging debt facilities after a major shuffle of project development schedules and cost-cutting. It expects to resume trading on the ASX on Tuesday. Before requesting the suspension, OZ had fallen A4.5 cents to A55 cents. CopperCo’s last trade was at A5 cents. 

The nasty bit of these re-financing and debt troubles is that even the biggest miners in the world are not immune, and that includes Rio Tinto itself. BHP Billiton’s decision to walk away from a deal it has spent years hatching tells us three things. BHP Billiton does appear to be genuinely concerned about Rio Tinto’s US$42 billion debt, acquired when it bought Alcan. It is also likely that the concern stretches as far as BHP Billiton itself, worried about the chances of re-financing such an enormous dollop of money at a time when debt markets are closed. The third message is that BHP Billiton has sidelined itself, but only until next year, when it might re-bid for Rio Tinto at a substantially lower price, or buy some of its assets should forced sales become necessary. 

Minews. An interesting scenario. Time now for prices, please. 

Oz. This is the good bit, but remember we’re looking at one week’s recovery and while the earlybirds sometimes get the worm, they can also move too soon. Let’s have a look at other deals because there was some good news to be had there too. OM Holdings, a low-key manganese miner, appears to be in the takeover cross-hairs of Ukrainian-controlled Consolidated Minerals which snapped up an 11 per cent stake in the company during the week. That move drove OM shares up by 62.5 per cent to A$1.30. Meanwhile, Moly Mines (MOL) reported that it is looking for possible joint venture partners for its Spinifex Ridge molybdenum project, an announcement which helped lift the stock by 29.5 per cent to A28.5 cents. 

And as we switch now to the sectors, it’s worth noting that this was a week when finding any stock which fell was a hard job, and that makes a pleasant change from playing spot the riser which we’ve been doing a lot of over the past few months. Among the gold, uranium and iron ore sectors it was all up. Most of the coal stocks also rose, while the base metals did not do as well. 

Minews. Let’s start with gold. 

Oz. Biggest mover was a stock we haven’t heard much from for a long time, Tanami Gold (TAM). After a long struggle Tanami seems to have got its operations and financial matters back into good order, a process which has included a fresh capital raising. The company’s shares rose a seemingly tiny A1.5 cents during the week, but when you’re coming up from a A0.7 cents Friday’s closing price of A2.2 cents represents a stellar gain of 214 per cent. Another gold company on the rise was Adamus (ADU), up by 76 per cent to A22 cents, though it is worth noting that the low price of the previous week was on very thin turnover. And other gold movers included Perseus (PRU), up by 20 per cent to A30 cents, Allied Gold (ALD) up by 25.6 per cent to A27 cents, Troy (TRY), up by 17 per cent to A82 cents, Centamin (CNT), up by 17 per cent to A82 cents, and Kingsgate (KCN), up by 12.6 per cent to A$2.67. 

Minews. Iron ore next. 

Oz. All up, as mentioned earlier. Atlas (AGO) regained a bit of lost ground with a rise of 42.2 per cent to A64 cents. Northern Iron (NFE), another emerging producer, and one which we took a look at mid-week, was up by 25.4 per cent to A69 cents. Mt Gibson (MGX) shook off some of its recent heavy losses to rise 46 per cent to A30 cents. Meanwhile, Territory (TTY) also made a modest comeback after a sharp fall during November. It closed at A11 cents, up 37.5 per cent. FerrAus (FRS) was another strong riser, 33 per cent to the good, and finally Gindalbie (GBG) rose 18.8 per cent to A41 cents. 

Base metal stocks put in a mixed performance, as we said, but it was notable that there were few reasonable recovery stories among the zinc producers. Perilya (PEM) ended a long losing streak with a rise of 33 per cent to A14 cents. CBH (CBH) rose by 30 per cent to A3.9 cents,, and Kagara (KZL) rose 29 per cent to A44 cents. 

Copper stocks were more muted, perhaps because of CopperCo’s demise and the debt issues at OZ. Marengo (MGO) was the star, though rising off a low base. It rose 50.6 per cent to A11 cents. Also moving up, Anvil (AVM) rose 11.7 per cent to A95 cents, and Equinox (EQN) rose 12 per cent to A$1.68. Among the fallers, Citadel (CGG) dropped half a cent to A12.5 cents. 

Nickel stocks trended up, some better than others. Independence (IGO) rose by 20 per cent to A$1.48, Western Areas (WSA) rose 27 per cent to A$3.50, and Mincor (MCR) was steady at A52 cents. On the downside, Albidon (ALB) slipped A1 cent lower to A24 cents, although the company does seem successfully to be addressing market concerns about the working capital issues at the Munali nickel mine in Zambia. On thing the market liked was that its Chinese off-take partner was sticking by it. 

Minews. Let’s finish with uranium and coal. 

Oz. It was hard to find a uranium stock that lost ground last week. Bannerman (BMN) continued to star thanks to its new management team and its fresh capital. The company rose 19.5 per cent to A58 cents. Wild Horse (WHE) delivered a terrific return for some lucky punter, rising by 111 per cent to A9.5 cents, while Uranex (UNX) rose 17 per cent to A17 cents. 

Most coal stocks rose. Riversdale (RIV) rose a very strong 34.7 per cent to A$2.56 as it strengthened ties with the Talbot Group, the private company behind Macarthur Coal (MCC). Macarthur itself performed slightly less strongly, rising 9.4 per cent to A$3.71. Coal of Africa (CZA) shook off its losing streak with a strong 46.5 per cent rise to A$1.26. But losing ground, Felix (FLX) and Centennial (CEY) fell by 15.4 per cent and four per cent respectively, to A$5.50 and A$2.61. 

Minews. Thanks Oz.


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## vegemite (15 December 2008)

On another forum (HC), a shareholder group has been created to explore what options might be available for anyone caught out by the CUO collapse. The more the better as there is strength in numbers and a bigger range of ideas etc. From Susan's emails so far it seems like all hope is not yet lost.

To join the group, email Susan at the address below:

hayman_and_king@hotmail.com

(Permission has been obtained to post this)

Cheers, V


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## bandicoot76 (26 January 2009)

hi all,
i'm new to this forum and this is my first post so be kind...lol..

with regards to copperco, i had 100,000 shares in this lemon and i'm outraged that the management were talking up the companies position at a mining conference only days before they went into receivership!!!!!
surely some sort of business ethic's law has been violated by these scoundrels??? i have read that the brokerage firm 'fat prophets' are calling for an enquirey from the relevant government body into CUO's demise as they had a "buy" rating on the company.

i am disgusted that a profitable,producing company could be so destroyed and now seems to be going to have its assets sold off in a fire sale to the detriment of its shareholders and for the profit of macquarie bank, surely minsec's huge debts ($35M) to macquarie bank should have been made public knowledge for shareholders prior to the merger vote? 

i hope i havnt violated any of this forums rules but i am smokin mad about the whole thing!


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## jman2007 (26 January 2009)

bandicoot76 said:


> hi all,
> i'm new to this forum and this is my first post so be kind...lol..
> 
> with regards to copperco, i had 100,000 shares in this lemon and i'm outraged that the management were talking up the companies position at a mining conference only days before they went into receivership!!!!!
> ...




Hi Bandicoot,

Don't worry, there has been a lot worse things said on this forum 

I am very sympathetic towards your plight, as I "was" (and technically still am) also a CUO shareholder and was caught completely buy surprise in their collapse. There was clearly blatant insider trading occurring over the past 1-2 weeks as those-in-the-know cashed in their shares. This by itself should be investigated. 

You pretty much nailed it with the reference to the MinSec nasty $35-40M debt, tbh even the analaysts who followed the stock were scarcely aware of it. It makes me think MinSec were just after CUO's cash. It s extremely annoying that a relatively successful operation will probably be broken up and sold for next to nothng, and we as shareholders will get zilch.

By the way, I bought at 60c, rode it to $1.20 and from there to zero 

jman


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## bandicoot76 (27 January 2009)

re:jman

good to hear i'm not the only one suspicious of the whole mess, wow i bought at 40c and thought i'd been hit hard! sorry to hear you got a worse deal mate.

i'm always nervous when macquarie bank gets involved in things,do you think  minsec could have been a 'trojan horse' for "other interests" to get hold of copperco's assets?


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## bandicoot76 (27 January 2009)

anyone know if we, the shareholders, will get ANYTHING back on our CUO "investment"????????????????????????????????????????????????????


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## monkeybusiness (27 January 2009)

Thanks Vege,

for all your support - please contact me on

hayman_and_king@hotmail.com 

With your details.

Have to be patient indeed and much more!!!!

Cheers

Susan


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## Lachlan6 (28 January 2009)

I hate to sound smug, but this is why technical analysis is soo important. CUO gave a clear SELL signal back in early 08 when it traced out a Head and Shoulders reversal pattern. Investors could have got out at $0.70 and never re-entered as it never again offered a buy signal.


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## bandicoot76 (5 February 2009)

anybody have any news about whats happening regarding copperco's assets etc? i have been searching the web for any snippets of information with no luck, i guess we just have to wash our hands of it, take our losses and live & learn hey?


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## resourceboom (7 February 2009)

The following was released by Cape Lambert in the UK.

Headline Cape Lambert acquires CopperCo secured debt
Released 11:30 06-Feb-09
Number 9288M11

RNS Number : 9288M
Cape Lambert Iron Ore Limited
06 February 2009

Cape Lambert Iron Ore Limited
6 February 2009
Cape Lambert acquires CopperCo secured debt

Australian resources company Cape Lambert Iron Ore Limited ("Cape Lambert") (ASX: CFE, AIM: CLIO) has today acquired the secured debt owed by ASX listed CopperCo Limited (ASX: CUO) ("CopperCo") and its subsidiaries from Macquarie Bank Limited ("Macquarie") and LinQ Capital Limited as Responsible Entity for the LinQ Resources Fund. 

The directors of CopperCo and other members of the CopperCo corporate group appointed joint and several administrators on 26 November 2008. On the following day, Macquarie appointed joint and several receivers and managers. Following the acquisition of the secured debt by Cape Lambert, the existing receivers and managers have been replaced and Gary Doran and David Lombe of Deloitte Touche Tohmatsu Australia have been appointed as new joint and several receivers and managers.

Under the transaction, Cape Lambert acquired CopperCo's outstanding secured debt to these parties for a total cash payment of approximately AUD$72.7 million (the payment of approximately AUD$15.0 million of which is deferred until late July 2009). 

In addition, Cape Lambert has provided bank guarantees in place of existing performance bonds and receivers unpaid liabilities to an approximate aggregate of AUD$33.8 million.

The Board of Cape Lambert believes that the CopperCo group holds an attractive portfolio of assets which represent significant value, despite current market conditions. Cape Lambert believes that this transaction provides an exposure to CopperCo's assets in a relatively low-risk manner and is confident of securing a return on its investment. 

A further announcement in relation to this transaction will be made in due course.

For more information please contact:

Cape Lambert Iron Ore Limited: 
Tony Sage +61 (0)8 9380 9555 

Australian Enquiries: 
Professional Public Relations 
David Tasker +61 (0)8 9388 0944/ +61 433 112 936 

UK Enquiries: 
Nominated Adviser: 
Grant Thornton UK LLP 
Fiona Owen +44 (0)20 7383 5100 

AIM Broker: 
Collins Stewart Europe Limited 
Adrian Hadden +44 (0)20 7523 8353 

Conduit PR: 
Jos Simson +44 (0)20 7429 6603/+44 (0)7899 870 450 
Jane Stacey +44 (0)20 7429 6606 

Website: www.capelam.com.au 


This information is provided by RNS
The company news service from the London Stock Exchange


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## resourceboom (7 February 2009)

By the way I have no idea what any of this actually means, I hope CFE will clarify further on Monday.


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## enigmatic (8 February 2009)

I hope so too, was just doing a little bit of research on CUO and finding out that CFE has done this is some what interesting.
So is there any good news out of CUO, as i was reading the thread it seemed good at the intial phase there was speak of 500mil cap now 42mil so I'm hoping it is only this finiancal trouble.
Jman if our arround any info

I currently hold CFE, dont hold CUO


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## jman2007 (8 February 2009)

enigmatic said:


> I hope so too, was just doing a little bit of research on CUO and finding out that CFE has done this is some what interesting. So is there any good news out of CUO, as i was reading the thread it seemed good at the intial phase there was speak of 500mil cap now 42mil so I'm hoping it is only this finiancal trouble.
> Jman if our arround any info
> 
> I currently hold CFE, dont hold CUO




Not quite sure what to make of this yet, and what it mght mean for CUO/CFE holders. At a first glance, it appears as that the CFE move to acquire CUO's debt is a kind of predatory move, and I think we also need to distinguish between CUO's _debt_ and their _assets_ i.e. The Lady Annie Copper Project, and just how CFE plan to make money from this transaction - this point being conveniently glossed over in their release. Hopefully will become clearer tomorrow.... 

jman


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## jman2007 (14 February 2009)

'Flooding Disrupts CopperCo's Lady Annie Mine'

http://www.24hgold.com/english/viewarticle.aspx?id=376793

Well despite the short-term setback of this weather related event, I suppose there is a small positive in that Lady Annie is at least able to continue as a going concern, at least for now. This is one of the few indications I've seen that there was anything at all going on at Lady Annie.

jman


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## bandicoot76 (13 May 2009)

copper prices are going up, copperco is still producing copper under administration... can shareholders expect to see some of the profit of this production at higher prices or will the parasites swallow it all up? i guess what i'm asking is will our company survive or has it been stolen out from under us by slimy thieving treacherous b*stards?


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## dmagnus (13 May 2009)

shareholders rank behind unsecured creditors so I'd say it'll be a while before they pay off their debts


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## Aargh! (14 May 2009)

bandicoot76 said:


> copper prices are going up, copperco is still producing copper under administration... can shareholders expect to see some of the profit of this production at higher prices or will the parasites swallow it all up? i guess what i'm asking is will our company survive or has it been stolen out from under us by slimy thieving treacherous b*stards?




Copper prices are going up but ALL mining activity at Lady Annie has ceased. Check the announcements (6/03/09 in particular).

I understand your frustrations. I've a lot of money tied/lost in CUO.


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## bandicoot76 (14 May 2009)

absolutely disgraceful!... a $250mil company with a maiden profit of $5mil from 'developement grade' ore destroyed for a debt of $45mil that wasnt even ours!!!  surely SOMEONE must be held accountable? where the hell is ASIC ...something smells rotten, no putrid actually and to me it looks like blatant corruption... especially when you look at the trading volumes BEFORE the voluntary administration announcement was made!


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## Aargh! (8 June 2009)

So what's the latest with Copperco?

I live abroad so it's hard to keep track of this one. I have not seen any announcements for a long time.


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## ktrianta (8 June 2009)

Aargh! said:


> So what's the latest with Copperco?
> 
> I live abroad so it's hard to keep track of this one. I have not seen any announcements for a long time.




Not good really. assets have been purchased by Cape Lambert for enough to cover the debt plus a little left over for creditors.

As usual, shareholders will get shafted.


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## Aargh! (9 June 2009)

Have an ASX announcement attached. I Don't understand what's going on. Can someone please explain?

Are Cape Lambert just securing Minsec debt?

What does this mean for CUO shareholders?


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## muddy waters (18 June 2009)

https://www.aussiestockforums.com/forums/images/smilies/banghead.gif 

Latest report: http://www.mcgrathnicol.com/current... information/CopperCo Report to Creditors.pdf

McGrathNicol were appointed as Joint and Several Administrators & Ferrier Hodgson were the original receivers & managers [ but may have been replaced by Deloitte Touche 
Tohmatsu ??]

There is a creditors meeting scheduled by the administrators for 26/06/09

The ride is all but finished for shareholders!

Macquarie got it's lot [Cape Lambert CFE appears to have acquired the secured debt]; 
creditors may get some scraps; 
and we get to file away our holding statements!

Chess transferred issuer statements back to shareholders 26/02/09.

As I understand it, we can't declare a loss for 2009 tax purposes until we receive finalization notification from receivers 

I have lost a packet on this one and heaps on URL & MGX; I got out of CFE in good time!

Thank God for CVN;


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## muddy waters (18 June 2009)

Goodnight Irene!

http://aspect.comsec.com.au/asxdata/20090617/pdf/00961387.pdf

Who's next!


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