Sorry for previous post in wrong section....here it is again.
CuDeco shares bounce back 66pc after update
Kevin Andrusiak, Resources
July 21, 2006
THE drama over Cudeco's Cloncurry copper strike continued yesterday, with its share price bouncing back after it released a new drilling update.
CuDeco has been out of favour with regulators and punished in the press for sloppy reporting over the size of its potential copper resource.
But the company, formerly called Australian Mining Investments, snapped three days of losses with a share price gain of more than 66 per cent yesterday.
Heavy day trading in the stock in early July by investors looking for the next big thing in resources pushed its share price more than 1400 per cent higher before the Australian Stock Exchange stepped in and questioned the quality of its reports.
CuDeco then became the laughing stock of the investment community as its share price spiralled lower.
But a very comprehensive announcement yesterday, including drill hole locations and a breakdown of mineralogy, improved the strike length of CuDeco's Las Minerale by 50m to the northwest.
Best results include a 60m hit grading 1.67 per cent copper from 146m.
Another drill hole recorded 46m averaging 0.57 per cent copper.
The same drill hole, DORC-103, recorded the highest cobalt assays to date, grading 0.39 per cent.
CuDeco's shares climbed $1.51 higher yesterday to $3.79.
SOURCE: 21st July
http://www.theaustralian.news.com.au/story/0,20867,19856751-643,00.html
AUM
australian mining investments limited
