phoenix will not be selling now. The plan was always to have an...

phoenix will not be selling now. The plan was always to have an acquisition to develop what was considered a prudent acquisition valued as a shell. The major restructure would then give control to install a capable management. This is the MOD. The initial plan as has been outlined was to get a JV to explore the iocg potential in horse well- however the copper price surge has changed everything. The market will be looking for copper plays and the existing assets in chk are very attractive for the company to have greater involvement, especially horse well. The benefit is it has drilled and proven copper exists. The query is where can we find the motherlode! bhp is acquiring major copper assets worldwide - any success and bhp will come calling.