To ensure a steady supply of ore to meet its 300,000 tonne a year Mt Isa smelter capacity beyond 2010, Xstrata has entered joint venture agreements with two junior explorers in the region, Universal Resources and CopperCo.
Earlier this year (2005), CopperCo's scrip bid for Universal failed when Xstrata partnered with Universal, giving it the option to develop the junior miner's Roseby project.
In the 2005 London presentation, Xstrata included copper from Universal's Roseby project in its production projections from 2008.
Barry Grant said, "I've put Roseby there for indicative purposes of what could potentially be available," North Queensland chief operating officer.
After 2010, Xstrata expects 30 to 40 per cent of the feed for its Mt Isa smelter to come from new ore bodies such as Roseby.
For The New Holders Still Acquiring Info on URL Here's The Full Article:
This article to New Holders like myself, gives me an insight that Universal may well return some excellent returns to Holders, over the coming period, "if" they can pull this deal off.
No doubt some of the Long Term URL Holders such as RRM & Aussie, who know the full history of Universal would already know this Info...... & please bear with me Aussie I've only held URL a short period, but am endeavoring to learn the inner makings of this Company. (Current Hold 900,000 averaged @0.019)
Cheers :)
URL Price at posting:
40.0¢ Sentiment: LT Buy Disclosure: Held
