bulletin speculator today

Nothing new but good press is good press any day. Especially for this yet "unknown" stock.......and Yunnan haven't organised this to be an idle hanger on!!

CHINESE GIANT IN COPPER PROSPECTING FLOAT:
Another big feed of Peking duck and other delicacies at Sydney's Sheraton on the Park hotel last week to mark the listing of China Yunnan Copper Australia Ltd (ASX code: CYU). This company was born out of the shell of GCU Resources after China's third biggest copper cathode producer injected $2.3m through taking up a placement of shares at 14c, followed by a public issue at 25c to raise another $4m through underwriter Martin Place Securities.

The company, under managing director and geologist Dr Mark Elliott, has a portfolio of copper-gold-uranium prospects spread throughout Queensland with first drilling scheduled immediately after Christmas on its One Tree Hill target 40km north of Cloncurry.

Since the shares re-listed under the company's new name on October 29, they've delighted the stags by trading at up to 90c. Last week they closed at 63c, giving the company a market capitalisation of $48.9m.

Of the 77.6 million issued shares, only 17 million are so far tradeable with the Chinese company holding a 21% interest in escrowed stock following the public issue of 18 million shares at 25c. The Chinese company also holds 18.4 million non-tradeable option exercisable within three years at 40c each.