and from the smh

Drilling results boost CuDeco shares
July 20, 2006 - 7:44PM

Shares in copper explorer CuDeco Ltd went for another rollercoaster ride on Thursday after the junior company extended the size of the Las Minerale deposit.

The former Australian Mining Investments Ltd has been drilling at the deposit, part of the Rocklands group copper project in Queensland, with the latest results sending its shares skyrocketing to $3.79, up $1.51 or 66.2 per cent.

CuDeco said the latest drilling results extended the strike length of the Las Minerale zone by 50 metres.

Better intersections from the drilling included 60 metres grading 1.67 per cent copper from a depth of 146 metres.

The drill hole also returned the highest cobalt assay to date of nine metres grading 0.39 per cent cobalt.

More than 10.3 million shares were traded in the stock, worth more than $30 million.

CuDeco shares ran up to $10.00 earlier this month after it said the Las Minerale project hosted a resource of more than 59 million tonnes grading 2.04 per cent copper equivalent.

The company was later forced to clarify the resource, resulting in a halved figure of 25 million tonnes grading two per cent copper equivalent, sending shares as low as $2.55.