watch this stock
copper prices are higher due to demand exceeding supply, plus copperco's prospected '' annie mine'' is larger than expected. BUT ALWAYS DO YOUR OWN RESEARCH AS WELL!!
I have held this stock for some time and believe in its resource potential. Some research below.
The Lady Annie still looks on track to be in production by the 3Q06. The best intersection value given above comes from a diamond drill hole put into the transitional sulphide zone below the oxides. Confirmation of this high grade zone at the base of the oxides ensures it will play an important part in future production. Metallurgical tests for Lady Annie indicate a 90% recovery of copper is possible from the planned Heap Leach stockpiles.
Potential:The latest results from the Mount Kelly project are very encouraging. The Mount Kelly, Mount Clarke and Flying Horse oxide deposits occur along fault and shear zones in siltstones and lie within 600m of one another. Further targets are being drill tested. Heap Leaching operations at Mount Kelly look certain to supply concentrates at around 30% Cu to the Lady Annie SXEW and it is possible that the 20ktpa capacity proposed there may be expanded as the resource base grows.
Overall:The results from the feasibility study in September 2005 will finally put hard numbers for the project on the table and as we suggest above, the scale of the project could be expanded. CUO issued a A$5M convertible note to LinQ Capital in May to fund the Lady Annie feasibility study and raised another A$0.5M from Mineral Securities via the placement of 24M shares. CUO still retains a 16.8% stake in Universal Resources and may look to realise the A$5.5M to fund its own projects.