Copper Company?

[macduffy]

The expected good result from OZL.

Announcement includes the - also expected - capital repayment, a modest buyback and a capital consolidation.

Still plenty of cash in the kitty though for the right acquisition in due course.

http://asx.com.au/asxpdf/20110209/pd...ykvnc3cqc0.pdf

[RRR]

Good outcome for investors after a long wait!! Some analyst described OZL situation in the past as 'near death'-very true. Averaging down has been beneficial for me with OZL. But they dont like small shareholders(costly for them) and tried to get my shares(and other small investors) for cheap not so long ago-cheeky, 80% appreciation since then. Capital consolidation is to keep small investors away!

Disc- Holding and enjoying the ride

[macduffy]

Capital consolidation is to keep small investors away!

There's certainly an element of that and can't say I blame them with over 3 billion shares on issue!

Better to be positioned nearer the more respectable end of town with miners such as BHP, RIO, NCM etc!

[Huang Chung]

Zambezi Resources (ZRL) could be interesting. They are waiting on the issue of a mining permit from the Zambian Government. Share price has run a little on the expectation that the permit will be granted. In a reply to the exchange yesterday, they said that they had recieved word that the permit would be granted, but it still needs to be ratified, so management weren't yet prepared to go to the market saying the permit had been granted. Ratification was supposed to happen today, so potentially we could get official confirmation tomorrow (assuming nothing goes wrong).

193,000 tonnes of contained copper, and lots of ground yet to be covered.

I bought a small parcel the other day at 2.2c, purely as a punt, which seems will pay off. I topped up today at 3.6c, which was about the lows for 95% of the day, the share price weakening to 3.4c in the last 10min or so of trade.

http://stocknessmonster.com/news-ite...E=ASX&N=521629

http://stocknessmonster.com/news-ite...E=ASX&N=523822

http://stocknessmonster.com/news-ite...E=ASX&N=528347

[drillfix]

Hi Huang,

Yeah nice little ride from 2.3c myself, but took the dosh off the table as it seems to me there was not enough conviction here, as in I am beginning to feel some of the price may be already factored into the previous move.

Would have thought it may have made a Higher High, but it failed to do so.

RSI is over 75 and now Williams %R now looking like it may punch through to a down move, but I guess it depends how it trades tomorrow.

A little bit of caution while Friday tomorrow, XAO sitting on 5001

Maybe some bargains to be had at the end of the day tomorrow if there is a sell off, but that also may lead to more falls on indicators which could drag it down even further so it may need a breather.

[Huang Chung]

Thanks for your thoughts Drilly.

Today was a bit disappointing, but the dump was really only in the last 10 minutes of trade. Not really sure what that tells you. Most of the day it traded between 3.6c and 3.8c.

If the mining permit comes through, I reckon any shares picked up around the current price will be sound buying if you take a medium term view.

[drillfix]

Yeah HC it was a tad dissapointing,

If and when the permit comes through, how long after that will it be before anything actually happens though? I mean, dont shareholders have to approve it and then when they do, there is a period of time of somewhat to get other arrangements up to speed and sorted?

I guess I am asking what time window do you believe this would be?

[Huang Chung]

It certainly won't be a short time frame, but I would see a shareprice rerating as we move forward.

First things first though, and that's getting the mining permit.

[macduffy]

Foster Stockbroking's picks for copper.

http://www.theaustralian.com.au/busi...-1226006236038

[impacman]

Thanks macduffy. See Pan Aust is once again geting good coverage The have been doing nicely since the GFC - where they almost came unstuck - dispite much dilution SP has moved steadily from low 20's (or even less for a while there) to where they are now - 85c. Have been holding for about 20 months and quite content to continue doing so - still think there is a bit left in them.

Cheers,

I-man