all this and in romania to boot - no way! good one to lose
"Canadian company Roman Copper Corp has won the bid for copper mine Cupru Min Abrud in Romania, in a deal worth some EUR 200 million, according to Ziarul Financiar newspaper. Three other companies signed up for the bid: Australian OZ Minerals, Bulgarian Ellatzite-Med AD and Dundee Holding from the Netherlands. The Bulgarian firm was disqualified just before the start of the bid.
Cupru Min Abrud has estimated reserves of 900,000 tonnes of copper at Rosia Poieni. However, only a small amount of of it can be extracted every year. The investor needs to pay a royalty on copper extracted, of 4 to 6 percent, to the Romanian state."
OZL Price at posting:
$9.53 Sentiment: LT Buy Disclosure: Not Held