smiler o
- 13 Mar 2007 08:10
African Copper PLC is an UK incorporated company that holds prospecting and retention licences in north eastern Botswana:
the northern Dukwe Project (covering approximately 319 km2) which contains a near production target (the Dukwe deposit) and a number of exploration areas; and
the southern Matsitama Project (covering approximately 4,000 km2) which contains a large number of prioritized exploration targets.
Location Map
Two Large Project Maps

Dukwe Project Overview
The Dukwe deposit, which is contained within the Dukwe Project, has been traced by drilling and surface sampling over a total strike length of 4,370 m, of which the central 2,000 m section is currently being considered for selective underground mining. The deposit has been tested by drilling to a maximum depth of 550 m. The deposit contains near-surface supergene and transition copper resources and a substantial underlying sulphide resource. The Company intends to develop a flotation concentrator and underground access at Dukwe throughout 2007, subject to financing. Under this timetable, commericial production would be realized in early 2008 at a rate of about 44 million pounds of copper per year.
The southerly Matsitama Project is a 4,000 km2 prospective exploration area containing numerous showings of copper, lead-zinc and nickel and covering the entire Matsitama Belt. A number of strataform and stratabound sedimentary hosted copper deposits are known to occur within the belt. A large number of high amplitude geochemical anomalies also exist, but these latter targets have seen virtually no exploration. Af4rican Copper has embarked on a multi-year exploration programme in Matsitama and intends to complete a pre-feasibility study on the Thakadu/Makala copper-silver deposits in 2006.

Sun Dec 31, 2006
Share Structure
--------------------------------------------------------------------------------
Shares Issued 128.84m
Market Cap 83.75m
Key Personnel
CEO Joseph Hamilton
COO Chris Fredericks
http://www.africancopper.com/s/Home.asp
http://www.metalprices.com/FreeSite/metals/cu/cu.asp
smiler o
- 16 May 2007 08:26
- 9 of 56
AFRICAN COPPER PLC
UNAUDITED CONSOLIDATED FINANCIAL INFORMATION
Three Months ended 31 March 2007
Expressed in Pounds Sterling
The accompanying Financial Information for the three months ended 31 March 2007 and 31 March 2006 have not been
reviewed or audited by the Company's Auditors and has an effective date of 14 May 2007.
African Copper Plc
smiler o
- 16 May 2007 09:23
- 11 of 56
Thanks for that ST will have a look :)
smiler o
- 16 May 2007 13:26
- 12 of 56
Some good news in today's Q1 results.
* Mining licence expanded from 2km to 5 km covered by existing eia permits and without Bot gov taking up 30% option.
* Resource updates due this quarter which will include a further 9000 metres of drilling which will lead into full mining and production schedule due out q4/07
* Technically we are mining (though not processing). 6 scrapers on site should have 180/210kt of material waiting for the commissioning of the processor.
* SX-EW route being looked at. This will cost big bucks. Anvil announced recently that they intend to build one in DRC. 60 k/t pa at a cost of $240m. Makes a lot of sense to go this route with oxides and smelter capacity/terms and conditions.
smiler o
- 17 May 2007 21:33
- 13 of 56
African Copper says Thakadu drilling show high grade copper-silver intersections
AFX
LONDON (Thomson Financial) - AIM-listed African Copper PLC said the first round of drilling at its 100 pct owned Thakadu deposits showed exceptionally high grade copper-silver intersections.
The Thakadu deposits incorporate two project areas within African Copper's Matsitama Exploration Project in Botswana.
A resource estimate is underway and is expected to be completed in June, the exploration and development company said.
Drilling on priority targets in the vicinity of Thakadu is currently underway, it said.
The company's chief executive Joe Hamilton said the Thakadu deposits are its most advanced exploration targets and represent exciting possibilities for growing production beyond the nearby Dukwe mining project.
The company is developing its first copper mine at the Dukwe mining project scheduled to commence production in the first quarter of 2008.
smiler o
- 03 Jun 2007 12:21
- 14 of 56
AIM: ACU
BSE: African Copper
TSX: ACU
AFRICAN COPPER Plc
('African Copper' or 'the Company')
Disclosure of Shareholding
The Company was notified on 30 May 2007 that Geologic Resource Funds have a
notifiable interest in 13,189,335 ordinary shares in the Company. This interest
represents 10.05% of both the Company's current issued share capital and of
total voting rights.
Ends
smiler o
- 05 Jun 2007 08:20
- 15 of 56
FOR: AFRICAN COPPER PLC
TSX, AIM SYMBOL: ACU
June 5, 2007
African Copper-Infill Drill Programme Returns High-grade Intersections and Shows Vertical Continuity of Copper
Mineralisation in the Proposed Open Pit Area at Dukwe
- 17,000 metre drill programme completed at the Dukwe Project
- Infill drill programme completed within open-pit boundary to provide confidence in vertical continuity of
mineralisation in steeply east dipping mineralized zone
- Metallurgical drill hole returns 1.18% copper and 2.4 g/t silver over a vertical distance of 454 metres
- 2.65% copper and 2.5 g/t silver over a vertical distance of 113 metres from 40 metres below surface
- 2.51% copper and 5.6 g/t silver over a vertical distance of 94 metres from 32 metres below surface
- 2.49% copper and 2.8 g/t silver over a vertical distance of 107 metres from 21 metres below surface
- 1.73% copper and 1.5 g/t silver over a vertical distance of 130 metres from 20 metres below surface including
97 metres at 2.12% copper and 1.6 g/t silver
- Updated resource calculation is expected before the end of June 2007
LONDON, UNITED KINGDOM--(CCNMatthews - June 5, 2007) - African Copper Plc ("African Copper" or the "Company")
(TSX:ACU)(AIM:ACU)(BSE:AFRICAN COPPER) announces results from the recently completed in-fill drill evaluation
at its flagship Dukwe Mining Project in northern Botswana.
The Dukwe Project is hosted within the NNE striking, steeply east dipping Bushman Shear Zone (BSZ). The
lineament is a 200km long regional structure which is between 200 to 400m wide. The drill holes described in
Table 1 below are all within the proposed open pit area (see link to Figure 1) and are drilled sub-vertically
into sub-vertical mineralisation.
"This drill programme was designed for grade control and to verify the vertical continuity of the Dukwe ore
body," commented Joseph Hamilton, CEO. "The results from this set of drill holes, in conjunction with results
from holes that were drilled previously (African Copper press releases early 2006), have given us a much
clearer picture of the ore body we intend to mine and the grades we will encounter as we progress through the
open pit. A new resource calculation is currently underway for the Dukwe pit area and we expect to have that
complete before the end of the second quarter of 2007."
All significant copper mineralisation within the primary sulphide zone at the Dukwe Mining Project occurs as
chalcopyrite hosted by a complex assemblage of hydrothermal quartz veins and vein breccias within metamorphosed
carbonate rocks. This characteristic assemblage is continuous along strike and is subject to the pinch-and-
swell deformation associated with the regional BSZ. The near surface parts of this mineralisation have been
enriched in a supergene blanket, while the zones closest to surface have been oxidized with the development of
copper carbonate, silicate and oxide minerals as well as native copper. This mineralized breccia package has a
variable overall true width ranging from less than 10m to 80m.
In line with the Company's strategy to fully exploit the economic potential of its mineralized resources and to
generate cash flow as quickly as possible to optimize shareholder value, the potential to mine economic
mineralisation from the upper oxide and supergene zones of the deposit was identified as being a viable
operational strategy.
Consequently, during the period mid-July to mid-December 2006, African Copper undertook a focused infill
drilling programme, over the areas of the Dukwe orebody considered amenable for open pit mining, between
Section Line 16 and Section Line 53. To optimize costs and the speed of evaluation, a policy of drilling
alternating diamond drill and reverse circulation holes was implemented on a nominal collar spacing of 20m
meters between holes. The majority of holes were drilled vertically, or steeply inclined, to a depth of 150m,
this being the boundary between oxide/supergene and sulphide mineralisation, and the practical limit of open
pit mining at Dukwe.
The drill programme included holes in both the pit area and in extensions to the mineralisation to the south
(southern extension holes not reported here). A total of 114 new holes were drilled over a strike length of 1.8
km and comprised a combined total of diamond drill and reverse circulation drill advance of 16,993 meters. A
full series of illustrative drill sections indicating intersections at greater than 0.25% Cu achieved during
this programme may be referenced on the African Copper website
www.africancopper.com
. A tabulation of the
intersections at greater than 0.25% Cu is included in Table 1 for reference.
Industry standard sampling and assaying protocols consistent with previous drill evaluation at the deposit have
been applied. A total of 9,353 samples excluding QA/QC samples were submitted to ALS Chemex in Johannesburg for
assay including both TCu and ASCu. Upon receipt and completion of assay data from ALS Chemex, a total of 609
samples were selected and sent for umpire analysis to SGS laboratories in Johannesburg; these results are
currently awaited. On receipt and verification of the umpire samples, the new assay data will be incorporated
with historical data and applied in the calculation of the new National Instrument 43-101, JORC and SAMREC
compliant resource estimate.
Caracle Creek International Consulting have been retained by African Copper to complete a fully compliant
National Instrument 43-101 resource estimate inclusive of this latest phase of evaluation drilling. It is
anticipated that this work will be completed by end-June. A pit optimization incorporating the latest mining
and processing parameters will be undertaken in June to generate an updated mineable reserve and finalise the
optimal open pit production plan.
African Copper, PLC
African Copper is a tri-listed (AIM, TSX, Botswana Stock Exchange) international exploration and development
company. African Copper is developing its first copper mine at the Dukwe Mining Project scheduled to commence
production in the first quarter of 2008. The flotation concentrator at Dukwe has been designed for a 3,000
tonne-per-day throughput producing approximately 44 million pounds of copper in concentrate annually at full
production. Initial production is expected to be from open pit, followed by underground mining of sulphides.
Additional information with respect to Dukwe is contained in a technical report by RSG Global dated 01 December
2006 entitled "Dukwe Copper Project - Database Review, Geological Modeling and Grade Estimation of the Dukwe
Copper Project". A copy of this report may be obtained from SEDAR at
www.sedar.com
.
The Company's other interests are the Matsitama Exploration Project concessions adjacent to the Dukwe Mining
Project, which contains ten high priority drill-ready targets and 35 lower priority targets. Mr. Joseph
Hamilton, P.Geo. and Chief Executive Officer of African Copper, is a "qualified person" as such term is defined
in National Instrument 43-101. This press release has been prepared under Mr. Hamilton's supervision. Mr.
Hamilton has reviewed the data disclosed in this press release for accuracy. For more information on African
Copper, please visit
www.africancopper.com
or email
info@africancoppper.com.
This press release contains or refers to forward-looking information, including statements related to future
production, mineral resource estimates, exploration and mine development plans, timing of the development of
the Company's projects in Botswana, exploration results, and other statements which are not historical facts.
When used in this press release, words such as "schedule", "could", "plan", "estimate", "expect", "believe",
"intend", "may" and similar expressions are forward-looking statements. Although the Company believes that its
expectations reflected in these forward-looking statements are reasonable, such statements involve risks and
uncertainties and no assurance can be given that actual results will be consistent with these forward-looking
statements. Important factors that could cause actual results to differ from these forward-looking statements
include risks related to failure to convert estimated mineral resources to reserves, the grade and recovery of
ore which is mined varying from estimates, future prices of copper, capital and operating costs varying
significantly from estimates, uncertainties relating to the availability and costs of financing needed in the
future, changes in equity markets, inflation, changes in exchange rates, delays in the development of projects,
conclusions of economic evaluations, political risks arising from operating in Africa, changes in project
parameters as plans continue to be refined, and other risks involved in the mineral exploration and development
industry. Forward-looking statements are subject to significant risks and uncertainties, and other factors that
could case actual results to differ materially from expected results. Accordingly, readers should not place
undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof
and the Company assumes no responsibility to update them or to revise them to reflect new events or
circumstances, except as required by law.
A map of African Copper's Dukwe pit area hole location is available at the following web address:
http://www.ccnmatthews.com/docs/dukwepitareamap.pdf
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
African Copper Plc
Naomi Nemeth
Vice President, Investor Relations
(416) 214-2922
Email:
Info@africancopper.com
Website:
www.africancopper.com
smiler o
- 08 Jun 2007 08:57
- 16 of 56
Growing African Copper into Botswana's next copper producer
LONDON, UNITED KINGDOM--(Marketwire - June 7, 2007) - African Copper ("African Copper" or the "Company") (TSX:ACU)(AIM:ACU)(BSE:AFRICAN COPPER) announces its business and growth strategy as it makes the transition from exploration through development and into production over the course of the next 12 months.
"African Copper has reached the stage in its evolution as a company where we are in the position to articulate our broader business strategy and our opportunities for growth," commented Joe Hamilton, African Copper's Chief Executive Officer. "We began with an extensive sulphide exploration programme in the Bushman Shear area of northeast Botswana in 2005. By the end of 2006 we had completed the delineation of resources available for mining and had finalized flowsheets and mining methods. The 2006 year culminated in the award of a 25-year mining licence and the commencement of construction activities at the Dukwe site. We have also begun construction of a 1-million tonne-per-year concentrator. Alternative production optimizations scenarios are currently under examination in order to maximise the currently available mineralized asssets. Pre-production stripping has also been approved by the Board through the utilization of a scraper fleet to extract near-surface overburden ahead of the mobilization of the main load & haul fleet. We expect to have copper production in the first quarter of 2008 from the Dukwe open pit. The strategy that follows is our roadmap for the future."
Our Growth Strategy
African Copper's goal is to grow as a base metal (copper) mining company and to provide above average returns to shareholders. The Company's most advanced project is the Dukwe Mining Project, for which extensive drilling and sampling and subsequent engineering and metallurgical test work has been completed. African Copper also owns the rights to the prospecting leases for the Matsitama Exploration Project, which lies adjacent to and south east of the Dukwe Mining Project. The Matsitama Exploration Project offers 10 drill-ready and highly prospective targets, including the Thakadu-Makala Project.
In order to reach African Copper's goal, a growth strategy has been implemented encompassing four key strategic growth objectives:
1. Production - copper production from the Dukwe Mining Project is expected to commence by the end of the first quarter of 2008 via open pit, 2. Production Expansion - the processing plant has been engineered to allow for a simple expansion of throughput capability. In order to increase production the Company must first determine the ultimate source for increased mill-feed, including the following options: a. Underground resource - The substantial underground sulphide resource is the most obvious source for supplying new mill-feed to an expanded processing facility. The material has indicated resources. An access plan with estimated capital costs and stoping outlines is expected to be delivered by year-end 2007. Underground resources will likely require trial mining prior to conversion to reserves. b. Near pit resources - The Dukwe mineralization is known to extend to the north and south of the open pit area. Significant copper-in-soil anomalies exist along the 25-kilometre surface expression of the Dukwe Shear. A recent geophysical survey has identified a number of co-incident high-priority targets that will be drill-tested by year-end 2007. A second open pit is a preferred development option since capital requirements will likely be less than capital required for an underground mine. c. Production Optimisation - Studies are currently underway to optimize the recovery of copper from the open-pit through the potential utilization of Dense Media Separation (DMS) and Solution Extraction & Electrowinning (SX/EW). The process facility has been designed to allow an easy retrofit of either option if the studies prove positive. Preliminary results have indicated that the Dukwe mineralization is amenable to upgrade through a DMS plant. This would have the effect of allowing mining to a lower cut-off, processing of higher grade material through the concentrator and an overall increase in the contained metal output of the Dukwe deposit. 3. Exploration - an aggressive exploration programme in the Matsitama Exploration Project area continues at Thakadu, Nakalakwana Hill, and at various other nickel, zinc and copper targets. The Company intends to move swiftly through the initial assessment of these targets and advance the most promising targets to delineation drilling as soon as possible. The latest drill results from Thakadu (see African Copper press release dated 17 May 2007) have shown that the Matsitama belt is host to high-grade deposits of copper and silver. 4. Mergers & Acquisitions - African Copper continues to identify and assess other projects and operations where a strategic fit has the possibility of enhancing shareholder value.
1. Production
The success of the Dukwe Mining Project is dependent on reaching key predetermined milestones over the course of the next 5 years involving both the initial open pit mine and the processing plant, both of which are currently in development.
African Copper anticipates production of the first copper concentrate from the Dukwe Mining Project in the first quarter of 2008, ramping up to full production through the remainder of the year. In order to reach full production, a number of events must occur, some of which were documented in the first quarter of 2007 and others which have yet to occur.
During the first quarter of 2007, the Company was granted an unconditional archeological permit which is required under Botswana regulations. Any areas of archeological interest that had been identified on the property to be covered by the mining lease, including areas of artifacts remaining from previous mining operations, were examined by third party consultants and reports are compiled for historical records. Once this mitigation process was complete, a permit was granted allowing the Company to work through these areas.
In December 2006, the Government of Botswana granted the Company a 25-year mining licence. This approval followed previous approvals by the government of the Environmental Impact Assessment ("EIA"), the Environmental Management Plan ("EMP") and the granting of Water Abstraction Rights. The issuance of the mining licence allowed the Company to begin the mine construction programme at the Dukwe Mining Project. During the first quarter of 2007, the mining licence was expanded to include a 5 km area of influence along the strike extent of mineralization around the mining area, an expansion from the 2 km area of influence originally granted. Under existing EIA and permits, any material found in this expanded area may be brought into the mine plan without the requirement for additional permitting.
An updated mineral resource estimate is being calculated for the Dukwe Mining Project to include the 7,000 metres of drilling that was completed subsequent to the cut-off date of the previous mineral resource estimate (see African Copper press release December 2006). Upon completion of this updated estimate, which the Company expects to release by the end of the second quarter of 2007, the information will be used to reevaluate the open pit optimization plan. This in turn will allow the completion of an optimized production schedule. African Copper anticipates announcing this schedule by late third quarter or early fourth quarter of 2007.
In terms of processing plant development, the primary, secondary and tertiary crushers were purchased in June 2006 and are currently undergoing retrofitting in Johannesburg, South Africa. An order for a ball mill was placed in June 2006. The Company expects that all three crushers and the ball mill will be installed by the end of the third quarter of 2007. The deep footing and foundations for each of these pieces of equipment were nearing completion at the end of the first quarter of 2007.
Botswana Power Corporation (BPC) has been contracted to supply power from the main grid to the mine site by the fourth quarter of 2007. Until that time, construction power will be provided by a generator, which will later be used as a standby power supply during production. The power line to the water bore field has been commissioned and this is initially powered using the on-site diesel generator.
In early May 2007, the Company signed a 66-month mining contract with Moolman Mining Botswana (Pty) Ltd ("Moolmans"), an operating group of Aveng Limited. The contract provides for both the mobilization and demobilization of the mining fleet which, at full contingent, will consist of three face-loading shovels and twenty-six 100-tonne haul trucks. The Company expects this fleet to mobilize over a six to ten month period beginning in July 2007 and begin operating in August 2007. It is anticipated that the mining cost will be in the range of US$1.80 - $2.50 per tonne of material moved (both ore and waste rock) over the course of this contract.
Currently, Moolmans has a fleet of six scrapers in operation on site to facilitate the pre-stripping of surface material. Through this pre-stripping process, African Copper anticipates the stockpiling of 180,000 to 210,000 tonnes of material prior to the commissioning of the 1-million tonne-per-year concentrator. This stockpile will be used to help ensure a smooth start-up and commissioning phase for the processing facility.
Site construction activities are expected to reach completion by late fourth quarter of 2007 with cold commissioning of the processing plant planned to begin early in the first quarter of 2008 and hot commissioning planned for mid to late first quarter resulting in the production of first concentrate in the first quarter of 2008.
Another key driver for achieving production from the Dukwe Mining Project on time is the hiring of required personnel at all levels. To the end of the first quarter of 2007, all senior staff members have been recruited and are in place. Over the next four quarters, the Company and its contractors will continue to hire semi-skilled labour from the region surrounding the Dukwe Mining Project. With seven operating mines within a 200 km radius of the Dukwe Mining Project, the Company believes there is no shortage of skilled workers. Relationships with the local communities from which much of the labour will be drawn remain cordial and African Copper has implemented community relations programmes to increase awareness of the Dukwe Mining Project and the employment opportunities that will arise for community members.
It is African Copper's intention to change the name of the Dukwe Mining Project before the end of the third quarter 2007. A study is currently underway in consultation with local communities to explore potential names for this open pit mine.
2. Production Expansion
African Copper has a large land position around the Dukwe Mining Project in a favourable geological setting, which remains relatively unexplored. Sourcing additional mill-feed for production expansion may come from one or more of three options: underground mining, near-mine exploration or from production optimization methodologies.
Underground mining/secondary pit
A substantial portion of the Company's indicated resource occurs as sulphide copper beneath targeted open-pit mining levels. This material represents a significant opportunity for African Copper to access extra mill-feed early in the mine-life of Dukwe. The current development plan envisages the underground mine being developed over the life-span of the open-pit utilizing available cash flow to support capital costs. Accelerating this underground development would allow the Company to supply more mill-feed to the processing facility and thereby increase the annual copper production from the Dukwe Mining Project. Studies are currently underway to determine likely capital costs and construction schedules for the underground mining option. These studies are expected to be complete by the end of 2007.
Near-mine exploration
Extensive TITAN geophysical surveys have been completed along strike of the Bushman Shear zone from the Dukwe mineralization. These surveys encompass an area of more than 30 km around the shear zone to the north and south of the proposed open pit, where sulphide mineralization at the Dukwe Mining Project is known to continue. During the fourth quarter of 2006 the Company completed compilation of the data from these geophysical surveys. This information will be integrated into the development plan for the entire deposit and the results of this survey will form the base for follow-up exploration and delineation drilling during 2007. A number of copper and gold targets have been generated to the south of the Dukwe deposit. Exploration drill programmes are expected to commence shortly on the most prospective targets. The development of a second open pit may allow for an increase in plant throughput and associated copper production. Capital costs for a second open pit are expected to be lower than for the development of an underground mine.
Mineral resource estimates were completed in the vicinity of the proposed open pit in December 2006. Additional drilling was completed to the south of the pit area after the cut-off date for compiling the December estimate. In addition, a close-spaced drill programme was conducted within the open-pit for grade control purposes. African Copper intends to provide a new mineral resource estimate for both the proposed open pit and potential underground mine before the end of the second quarter of 2007.
Production optimization
The Company is testing the applicability of using Dense Media Separation ("DMS") technology for the processing of mixed ore materials as a method to maintain grade control thereby optimizing production. In addition, the use of conventional Leach Solution Extraction & Electrowinning technology to treat oxide concentrates on site is being examined. Results of test work to determine suitability and applicability of these technologies is expected in the third quarter of 2007. Initial results remain encouraging. The DMS plant will be required to enable bulk mining of the underground mineralization, but the Company may elect to utilize the same technology during open-pit mining.
The Dukwe mineralization has a vertical orientation with a resultant high strip ratio in the open-pit. Pit slope studies were completed in 2006 on a pit design that had a near-zero risk of failure. New studies have been commissioned that will look at risk-adjusted angles for pit slopes. These studies may result in different pit slope angles and a change in the ultimate pit strip ratio which may enhance the project economics.
Additional information with respect to Dukwe is contained in a technical report prepared by RSG Global dated December 1, 2006 entitled "Dukwe Copper Project - Database Review, Geological Modeling and Grade Estimation of the Dukwe Copper Project. A copy of this report may be obtained from Sedar at www.sedar.com.
3. Exploration
Exploration activities are divided into risk profiles (ranked from lowest to highest risk):
i) near mine exploration - lowest risk
ii) along strike indications of mineralization to the south of the Dukwe deposit
iii) exploration in the vicinity of known mineralization - Thakadu
iv) greenfields exploration of geophysical/ geochemical anomalies - highest risk
Near-mine exploration activities are described in the Production Expansion section above and will be conducted utilizing the mine-site geological team. The objective is to move discovered areas of mineralization that are in close proximity to the processing facility into a consolidated mine plan.
Previous workings identified an area of the Dukwe shear that had substantial copper and gold anomalies in soils. Coincident geophysical anomalies mark these areas as having a high priority for follow-up. The Company expects to mobilise a drill before the end of the second quarter of 2007.
The Matsitama Prospecting Licences cover an area of approximately 2,000 km2 of highly prospective mineral holdings. The Matsitama exploration porgramme is administered from a stand-alone exploration base camp just outside of Matsitama Village and close to the Thakadu deposits. The exploration activities are separate from the operating team at the Dukwe deposit and maintain a dedicated staff with a specific budget.
Two areas within the large Matistama Prospecting Licences have been the subject of continuing studies:
1. Thakadu-Makala-Dihudi-Mutsuku trend ("Thakadu");
2. Nakalakwana
Both of these areas of focus have undergone extensive geophysical surveying. Exploration drilling in each area is ongoing and results will be released as they become available. The Matsitama Exploration Project has a wealth of systematic multidisciplinary exploration data that indicates substantial areas of highly prospective terrain especially for sediment-hosted copper and zinc deposits.
Additional information on the Matsitama Exploration Project is contained in a technical report dated 30 March 2006 and entitled "Technical Report on the Dukwe Copper Project and Matsitama Prospecting Licences, Botswana, Africa", a copy of which can be obtained under the Company's profile on SEDAR at www.sedar.com.
Thakadu
The Thakadu deposits are located approximately 70 km to the southeast of the Dukwe Mining Project and 5 km to 10 km from the Francistown-Orapa paved highway. In 2006, the Company established an exploration base camp and initiated a 10,000 metre delineation drill programme at the Thakadu deposits. The drilling was confined to depths that could be accessed by open-pit methods although the deposits are known to continue to depth. This drilling programme was completed in 2006, and final assays have been received. A mineral resource estimate is currently being prepared by independent consultants, and this is expected to be released by the end of the second quarter of 2007. The geological mapping of drill core from Thakadu has led to new geological interpretations of the area. Several unexplored geochemical anomalies have now become higher priority exploration targets.
The Thakadu deposits represent an advanced exploration project that has the potential to develop into a mining project in its own right or, alternatively, as a complementary project running either in parallel or in series with the Dukwe Mining Project. A preliminary economic assessment of the capital costs required to bring the Thakadu deposits to production indicate that another deposit of similar size and grade is required in the immediate area in order to justify the construction of a stand-alone plant. Exploration efforts will be focused on the unexplored geophysical and geochemical anomalies within 5 kilometres of the Thakadu deposits.
Drilling of new targets discovered by the geophysical surveys undertaken in 2006 continues with results expected in the third quarter of 2007.
Nakalakwana
This Copper/Gold exploration target is represented by an extensive area of alteration, some 5 km by 12 km, the centre of which is located approximately 140 km to the southeast of the Dukwe Mining Project. More than 1,700 metres of phase one drilling was completed by the end of April 2007 and results are expected for release by the end of the second quarter of 2007. In addition, an extensive TITAN geophysical survey has been completed over a substantial potassium radiometric anomaly that occurs in this area. This survey has generated a number of high-priority anomalies and drilling of these targets will continue throughout 2007.
4. Mergers & Acquisitions
African Copper will continue to examine potential merger or acquisition opportunities in southern Africa where strategic fit with current projects is determined. Copper remains the focus for the Company, although opportunities exist for zinc, nickel and gold deposits.
Strategy Summary
This strategy provides the roadmap that African Copper will use as a guide for growth as it makes the transition from explorer to producer. The roadmap identifies key strategic decision points that will be constantly challenged to adjust thinking in order to optimise the transition of the Dukwe deposit into production, expand and optimise tenement production opportunity, and to identify new exploration targets leading to future resources.
Mr. Joseph Hamilton, P.Geo. and Chief Executive Officer of African Copper, is a "qualified person" as such term is defined in National Instrument 43-101. This press release has been prepared under Mr. Hamilton's supervision.
African Copper PLC
African Copper is a tri-listed (AIM, TSX, Botswana Stock Exchange) international exploration and development company. African Copper is developing its first copper mine at the Dukwe Mining Project scheduled to commence production in the first quarter of 2008. The flotation concentrator at Dukwe has been designed for a 3,000 tonne-per-day throughput producing approximately 44 million pounds of copper in concentrate annually at full production. Initial production is expected to be from open pit, followed by underground mining of sulphides.
The Company's other interests are the Matsitama Exploration Project concessions adjacent to the Dukwe Mining Project, which contain ten high priority drill-ready targets and 35 lower priority targets. For more information on African Copper, please visit www.africancopper.com or email info@africancoppper.com.
This press release contains or refers to forward-looking information, including statements related to future production, exploration and mine development plans, timing of the development of the Company's projects in Botswana, exploration results, metallurgical test results, and other statements which are not historical facts. When used in this press release, words such as "schedule", "could", "plan", "estimate", "expect", "believe", "intend", "may" and similar expressions are forward-looking statements. Although the Company believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include risks related to failure to convert estimated mineral resources to reserves, the grade and recovery of ore which is mined varying from estimates, future prices of copper, capital and operating costs varying significantly from estimates, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, delays in the development of projects, conclusions of economic evaluations, political risks arising from operating in Africa, changes in project parameters as plans continue to be refined, and other risks involved in the mineral exploration and development industry. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could case actual results to differ materially from expected results. Accordingly, readers should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update them or to revise them to reflect new events or circumstances, except as required by law.
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- 20 Jun 2007 13:31
- 17 of 56
FOR: AFRICAN COPPER PLC
TSX, AIM SYMBOL: ACU
June 20, 2007
African Copper Announces Private Placement with Botswana Institutional Investors to Raise up to 92,045,492
Botswana Pula
LONDON, UNITED KINGDOM--(CCNMatthews - June 20, 2007) - African Copper Plc ("African Copper" or the "Company")
(AIM:ACU)(TSX:ACU)(BSE:AFRICAN COPPER) announces that it proposes to raise up to 92,045,492 Botswana Pula
(approximately Pounds Sterling 7.5 million or C$15.9 million) by way of a private placement of up to 8,367,772
ordinary shares at a price of 11 Botswana Pula (approximately Pounds Sterling 0.89 and C$1.89) per ordinary
share (the "Private Placement").
The Company has received indications from potential subscribers that, if fulfilled, will satisfy the entire
Private Placement.
The Company has agreed to pay a capital raising fee in cash to Capital Corporate Finance (Pty) Ltd. (Gaborone,
Botswana) equal to 5% (exclusive of taxes) of the proceeds raised pursuant to the Private Placement.
The Private Placement is scheduled to close on or about 26 June 2007 and is subject to certain conditions,
including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto
Stock Exchange and admission of the placing shares to trading on the AIM market of the London Stock Exchange.
Mr. Joseph Hamilton, Chief Executive Officer of African Copper commented:
"The Botswana Stock Exchange has been very successful in facilitating the investment of domestic and
international savings into financial economic growth and diversification within Botswana. This share placement
from managers of Botswana pension assets strengthens African Copper's ties with the local community and further
promotes investment from the Botswana private sector. African Copper is committed to promoting expansion and
growth of the Botswana economy as it develops its first mine at the Dukwe Mining Project".
African Copper, PLC
African Copper is a tri-listed (AIM, TSX, Botswana Stock Exchange) international exploration and development
company. African Copper is developing its first copper mine at the Dukwe Mining Project scheduled to commence
production in the first quarter of 2008. The flotation concentrator at Dukwe has been designed for a 3,000
tonne-per-day throughput producing approximately 44 million pounds of copper in concentrate annually at full
production. Initial production is expected to be from open pit, followed by underground mining of sulphides.
The Company's other interests are the Matsitama Exploration Project concessions adjacent to the Dukwe Mining
Project, which contains ten high priority drill-ready targets and 35 lower priority targets. For more
information on African Copper, please visit
www.africancopper.com
or email
info@africancoppper.com.
This press release contains or refers to forward-looking information, including statements related to future
production, exploration and mine development plans, timing of the development of the Company's projects in
Botswana, exploration results, metallurgical test results, and other statements which are not historical facts.
When used in this press release, words such as "schedule", "could", "plan", "estimate", "expect", "believe",
"intend", "may" and similar expressions are forward-looking statements. Although the Company believes that its
expectations reflected in these forward-looking statements are reasonable, such statements involve risks and
uncertainties and no assurance can be given that actual results will be consistent with these forward-looking
statements. Important factors that could cause actual results to differ from these forward-looking statements
include risks related to failure to convert estimated mineral resources to reserves, the grade and recovery of
ore which is mined varying from estimates, future prices of copper, capital and operating costs varying
significantly from estimates, uncertainties relating to the availability and costs of financing needed in the
future, changes in equity markets, inflation, changes in exchange rates, delays in the development of projects,
conclusions of economic evaluations, political risks arising from operating in Africa, changes in project
parameters as plans continue to be refined, and other risks involved in the mineral exploration and development
industry. Forward-looking statements are subject to significant risks and uncertainties, and other factors that
could case actual results to differ materially from expected results. Accordingly, readers should not place
undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof
and the Company assumes no responsibility to update them or to revise them to reflect new events or
circumstances, except as required by law.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
African Copper Plc
Naomi Nemeth
Vice President, Investor Relations
Email:
Info@africancopper.com
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- 03 Jul 2007 18:03
- 18 of 56
African Copper says Dukwe project in Botswana on track, within budget
AFX
LONDON (Thomson Financial) - African Copper PLC said its first copper mine, the Dukwe project, remains on track to start operating in the first quarter of next year.
'It is on time and on budget,' said chief operating officer Christopher Fredericks at a metals and mining conference hosted by Numis Securities.
The AIM-listed company plans to release a new resource estimate by the end of this quarter.
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- 23 Jul 2007 08:25
- 19 of 56
FOR: AFRICAN COPPER PLC
TSX, AIM SYMBOL: ACU
July 23, 2007
African Copper Plc: Disclosure of Shareholding
LONDON, UNITED KINGDOM--(CCNMatthews - July 23, 2007) - African Copper Plc (TSX:ACU)(AIM:ACU)(BSE:AFRICAN
COPPER) received notification on 19 July 2007 that RAB Special Situations (Master) Fund Ltd has a notifiable
interest in 10,908,810 ordinary shares in the Company. This interest represents 7.82% of both the Company's
current issued share capital and of total voting rights.
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- 23 Jul 2007 13:44
- 20 of 56
The Sunday Times
July 22, 2007
Merryn on Money: The Citys secret stock tips
Johns (Meyer) first suggestion was African Copper, which is expecting to start production from a mine in Botswana by the first quarter of next year. Its plus points include the fact that Botswana is an oasis of financial calm in Africa, with a better credit rating than either Japan or Australia, and the firm has had good drilling results from a second property. John says its a good stock and Im sure he is right, but given that his target of 117p is a mere 22% away from its current price of 95p, Im not sure it is entirely Wiltons territory.
http://business.timesonline.co.uk/tol/business/money/investment/article2115838.ece
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- 24 Jul 2007 11:25
- 21 of 56
Web site updated, some good pictures etc worth looking !
also from today's press:
"... Citigroup said it has upgraded its earnings estimates for BHP Billiton, Rio Tinto, and Anglo American in the order of 10-15 pct, driven by significant upgrades to copper estimates."
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- 25 Jul 2007 07:58
- 22 of 56
FOR: AFRICAN COPPER PLC
TSX, AIM SYMBOL: ACU
July 25, 2007
African Copper Plc: Independent Resource Estimate for Thakadu Copper-Silver Project Shows Potential for New Development
LONDON, UNITED KINGDOM--(CCNMatthews - July 25, 2007) - African Copper Plc (TSX:ACU)(AIM:ACU)(BSE:AFRICAN COPPER) -
- Final results have been received from RSG Global Consulting ("RSG") for a resource estimate at the Company's 100% owned Thakadu Project in Botswana.
- RSG reports an estimated indicated mineral resource of 4.715 million tonnes grading 1.72% copper and an estimated inferred mineral resource of 0.961 million tonnes at 1.29% copper. In each case, estimated mineral resources represent a mineralized envelope based on a 0.25% copper cut-off utilizing ordinary kriging.
- Contained within this estimate, is an indicated silver resource of 3.558 million tonnes grading 16 g/t silver.
- These mineral Resource Estimates are SAMREC, JORC and NI 43-101 compliant.
- Locked cycle metallurgical results show average abrasion and bond work indices for the style of mineralisation with 92% to 94% recovery producing a concentrate grading between 30% and 32% copper.
- The Company is proceeding with open pit optimisation studies with the objective of early exploitation of this resource.
African Copper Plc ("African Copper" or the "Company") is pleased to announce the results of comprehensive mineral resource estimates for the Company's Thakadu Project in Botswana completed by independent consultants RSG Global Consulting ("RSG"). These estimates include data from 7,700 metres of infill and twin hole drilling in 42 drill holes and incorporate data from 70 historic drill holes (12,200 metres).
"Thakadu has always represented the most advanced exploration property for African Copper after the Dukwe Project. The delivery of mineral resource estimates for Thakadu greatly enhances our ability to complete scoping level studies on these deposits", commented Joseph Hamilton, Chief Executive Officer of African Copper.
"We are excited and encouraged by the results of our latest drilling programme both for the confidence level in our resource estimates and for the increased understanding of the geology of the area. We have prioritized a number of excellent exploration targets along strike from Thakadu and are currently drilling these in a systematic manner."
The Thakadu deposit is a broadly stratabound disseminated copper-silver deposit hosted in a deformed quartzite unit that is immediately adjacent biotite schists. Mineralisation generally occurs as chalcopyrite and bornite which has been oxidized to malachite, azurite and tenorite in the near surface portions (less than 40 metres) of the deposit. Mineralisation boundaries are sharp. Mineralisation is largely contained within the quartzite units but may locally extend into the adjacent biotite schist in areas of intense mineralisation. The quartzite unit ranges in thickness from 2 metres to over 30 metres and strikes west-northwest with a 40 degrees to 70 degrees south-southwest dip. Mineralisation seems to have a moderate plunge to the west-southwest at about 41 degrees.
RSG reports an estimated indicated mineral resource of 4.715 million tonnes grading 1.72% copper (178.7 million pounds of contained copper) and an estimated inferred mineral resource of 0.961 million tonnes grading 1.29% copper (27.37 million pounds of contained copper) (See Table 1). In each case estimated mineral resources represent a mineralized envelope based on a 0.25% copper cut-off utilizing ordinary kriging. The Company believes that the use of a 0.25% cut-off is African Copper Plc Press release 25 July 2007 Page 1 of 1 appropriate given the stratabound nature of the mineralisation and the sharp assay cut-offs that exist.
Historic drilling at Thakadu did not always include silver assays. All recent drilling included assays for silver. As a result outlying areas of the mineralisation could not be included in the volumes utilized for estimating the silver resource. Consequently the tonnage reflected in the estimate for silver resources is a subset of the copper resource estimate. RSG reports an estimated indicated mineral resource of 3.558 million tonnes grading 16 g/t silver (1.88 million ounces of contained silver).
Locked cycle metallurgical tests have been completed on samples of mineralisation from the Thakadu mineralisation. A total of 263.44 kilograms of drill core was collected across the drilled strike length of the Thakadu mineralisation and was submitted for testing. Abrasion and bond work indices show global averages for copper mineralisation. Flotation tests have shown mass pulls between 6% and 9% with 92% to 94.6% recoveries of contained copper resulting in a concentrate with a copper grade between 30% and 32.4%. All metallurgical work was completed at SGS Lakefield Research Africa (Pty) Ltd., an independent and internationally accredited laboratory facility.
African Copper is proceeding with open pit optimisation studies in preparation for exploitation studies of the Thakadu deposit. Following these studies, the Company will review the possibility of integrating Thakadu into the Dukwe mine plan, or examine stand-alone possibilities. A number of high-priority geochemical-geophysical exploration targets are currently under study in the vicinity of Thakadu. Results will be released as they become available.
Table 1: Mineral Resource Estimates for Thakadu Project (prepared by RSG Global Consulting, July 2007)
/T/
------------------------------------------------------------------------ Indicated Mineral Resource ------------------------------------------------------------------------ Copper Resource Silver Resource ------------------------------------------------------------------------ Grade Content Grade Content Tonnage Cu(%) lbs Tonnage Ag (g/t) Troy ozs ------------------------------------------------------------------------ Oxide 1,142,000 2.44 61,461,000 1,141,000 22 825,000 ------------------------------------------------------------------------ Sulphide 3,573,000 1.49 117,264,000 2,417,000 14 1,057,000 ------------------------------------------------------------------------ Total 4,715,000 1.72 178,725,000 3,558,000 16 1,882,000 ------------------------------------------------------------------------ Inferred Mineral Resource ------------------------------------------------------------------------ Sulphide 961,000 1.29 27,374,000 ------------------------------------------------------------------------
/T/
Note: RSG Global Consulting ("RSG") is an independent consulting firm commissioned by African Copper. The above RSG estimates were prepared under the supervision of Ken Lomberg, Pr. Sci. Nat.. who is an employee of RSG and a "Qualified Person" for the purposes of National Instrument 43-101 in Canada. Mr. Lomberg has reviewed and approved the contents of this press release. The estimates have been completed to SAMREC, JORC and National Instrument 43-101 definitions and standards. All sample preparation and analyses were completed at ALS Chemex laboratories in Johannesburg (ISO 17025 accredited and independent of African Copper and RSG). Copper and silver assays are completed using standard preparation of crushing to 70% less than 2 mm followed by splitting and pulverizing to 85% less than 75 micron. Analyses were generally completed utilizing 27 element four-acid ICP-AES in addition to a four-acid ore-grade element digestion followed by ICP-AES. Any over-limit analyses were reanalyzed using an ore-grade four-acid digestion with AA or ICP-AES finish. QA/QC procedures included the submission by RSG of systematic duplicates, blanks and both low-grade and high-grade standard samples within the sample batches submitted to ALS Chemex. Control samples comprise 20% of all samples submitted. Referee analysis for the dataset has been completed. The results of the QA/QC programme for copper analyses have been reviewed by RSG. RSG utilized an ordinary kriging methodology with block size of 10m x 10m x 3m and 1 m composites to complete the estimates. In addition to a number of geological criteria, indicated resources in this model are the sum of those blocks that have a minimum of 3 composite samples and a maximum of 20 composites contained with a maximum of six samples from a single drillholes and that lie within a 135 metre distance of the centre of the block estimated. In addition to a number of geological criteria, inferred resources are the sum of those blocks, not in the indicated category, that have a minimum of 1 composite sample and a maximum of 50 composite samples from a maximum of 6 samples from a single drillholes and that lie within 180 metres of the centre of the block estimated. Omni-directional variograms were utilized and major and semi- major axes of the search ellipse were rotated 45 degrees from vertical and horizontal respectively. Average oxide bulk density was 2.61 grams per cubic centimetre and average sulphide bulk density was 2.75 grams per cubic centimeter.
African Copper Plc Press release 25 July 2007 Page 2 of 2 Additional information with respect to the Thakadu Project is contained in a technical report dated March 30, 2006 and entitled "Technical Report on the Dukwe Copper Project and Matsitama Prospecting Licences, Botswana, Africa", a copy of which can be obtained under the Company's profile on SEDAR at www.sedar.com. A new National Instrument 43-101 technical report describing the property and the above resource estimates will be filed on the SEDAR website shortly.
African Copper is a tri-listed (AIM, TSX, Botswana Stock Exchange) international exploration and development company. The Company is planning to develop its first copper mine at the Dukwe Project in Botswana and commence production in 2008. The Company's other interests are the 2,000 sq km Matsitama exploration concession adjacent to Dukwe, which contains two known copper deposits and numerous base metal exploration targets. African Copper has approximately 139.6 million shares outstanding.
Mr. Joseph Hamilton, P.Geo., and Chief Executive Officer of African Copper, is a "qualified person" as defined in Canada by National Instrument 43-101. Mr. Hamilton has verified the data pertaining to the metallurgical testwork in this press release. This press release has been prepared under Mr. Hamilton's supervision.
This press release contains or refers to forward-looking information, including statements regarding the estimation of mineral resources, exploration results, potential mineralisation, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions, and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, failure to convert estimated mineral resources to reserves, the grade and recovery of ore which is mined varying from estimates, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks arising from operating in Africa, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. These forward- looking statements are made as of the date hereof and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by law.
The mineral resource figures for the Thakadu project disclosed in this press release are estimates and no assurances can be given that the indicated levels of copper and silver will be produced. Such estimates are expressions of judgment based on knowledge, mining experience, analysis of drilling results and industry practices. Valid estimates made at a given time may significantly change when new information becomes available. While the Company believes that the resource estimates disclosed in this press release are well established, by their nature resource estimates are imprecise and depend, to a certain extent, upon statistical inferences which may ultimately prove unreliable. If such estimates are inaccurate or are reduced in the future, this could have a material adverse impact on the Company. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that mineral resources can be upgraded to mineral reserves through continued exploration. The Company is not aware of any environmental, permitting, legal, title, taxation, socio-political, marketing or other issue that may materially affect these estimates of mineral resources
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- 25 Jul 2007 08:02
- 23 of 56
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- 31 Jul 2007 09:13
- 24 of 56
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- 11 Aug 2007 18:12
- 25 of 56
Author: Dorothy Kosich
Posted: Monday , 06 Aug 2007
RENO, NV -
The combination of strong global demand and a struggling supply, Citigroup envisions a structural change in copper markets, which convinced London-based analysts to upgrade 2008-2010 copper price forecasts to US$3-3.50/lb.
In their recent report, "Metals and Mining Strategy Copper Look at These Prices," analysts Craig Sainsbury, Heath R. Jansen and Liam Fitzpatrick increased their local-term copper price forecasts from $1.10/lb to $1.45/lb. The 32% increase is driven by the combination of structural costs increases for existing producers, combined with increasing capital and operating cost hurdles.
The analysts also predicted that UK-based copper miners will deliver 1.4mt of new copper production, representing 25% of additional global supply. "Therefore copper bulls, the better leverage will be in growth stocks such as First Quantum, Antofagasta, Vendanta and Xstrata," they asserted.
Meanwhile, Citigroup recommended First Quantum Minerals (FQM) as its preferred pure play copper exposure, "given the longer-term strategic upside (exploration/development potential in Africa) as well as our belief that FQM is a prime potential takeover target."
The analysts asserted that further upside value in equities would need to be driven by exploration success; further copper price upside; cost reduction; improved profile; and M&A activity. Based on these drivers, Sainsbury, Jansen and Fitzpatrick highlighted "Xstrata and First Quantum as the two most likely companies to deliver."
Citing FQM's early-mover advantage in the Zambian/Congolese copper belt, and projects such as Kashimie, the expansion of Guelb Meghrein and Frontier, the analysts noted "there is a potential for FQM to be a 600ktpa-plus producer by 2010.
Meanwhile, the analysts declared that "Xstrata has one of the best stables of copper projects among its global peers. Projects such as the debottlenecking of Collahuasi, Las Bambas, Tampakan and El Pachon have the potential to add 500kt of new production for XTA by 2012/"
Citigroup noted that "cash generation remains a strong theme for all the miners. Between now and 2010, we see the copper-exposed equities generating 70% of their current market value in surplus." The analysts explained that "with the strong commodity prices and limited avenues for capital investment, we see significant build up of cash on the balance sheet."
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- 15 Aug 2007 08:43
- 26 of 56
African Copper Q2 loss narrows; making progress on production for Mowana Mine
AFX
LONDON (Thomson Financial) - African Copper PLC reported a narrower second-quarter loss mainly attributable to increased bank interest receivable, adding 'significant' progress is being made towards production of copper from the Mowana Mine at the end of the first quarter of 2008.
The company posted a net loss of 49,761 stg for the three months to June compared with 254,523 stg in the year-ago period.
Its bank interest receivable came in at 785,736 stg, up from 239,461 stg.
The increased administrative expenditure and share based compensation costs were more than offset by the bank interest receivable for the period, the company said in a statement.
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- 21 Aug 2007 19:47
- 27 of 56
FOR: AFRICAN COPPER PLC
TSX, AIM SYMBOL: ACU
August 20, 2007
African Copper Plc: Disclosure of Shareholding
LONDON, UNITED KINGDOM--(Marketwire - Aug. 20, 2007) - African Copper Plc (TSX:ACU)(AIM:ACU)(BOTSWANA:AFRICAN
COPPER) received notification on 20 August 2007 that RAB Special Situations (Master) Fund Ltd has a notifiable
interest in 8,308,810 ordinary shares in the Company. This interest represents 5.95% of both the Company's
current issued share capital and of total voting rights.
-30-
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- 23 Aug 2007 08:58
- 28 of 56
Copper rules the metal markets
Copper, long seen as a proxy for global economic activity, is doing all right, along with copper stocks, as Chinese consumption continues to increase.
Author: Barry Sergeant
Posted: Wednesday , 22 Aug 2007
JOHANNESBURG -
The dollar price of copper - levels of which are used by some investors as a proxy for global economic activity - has outperformed many other metals and commodities during recent bouts of profit taking in equity markets, triggered by uncertainties in credit markets, which stemmed, in turn, from rising failures in the US subprime mortgage bond market.
Measured in dollar terms, copper is about 10% up on the start of the calendar year, but 15% off its May highs. The price has shown a strong correlation with moves in the Standard & Poor's 500, and has supported relatively smaller losses of listed copper stocks, when measured against other groups of mining stocks. The copper grouping has performed almost as well as the major diversifieds grouping, where several individual members rank, as such, as major copper producers.
http://www.mineweb.com/mineweb/view/mineweb/en/page36?oid=25815&sn=Detail