hahahhahaha For 750,000 in cash, how much does the CEO get paid?...

hahahhahaha For 750,000 in cash, how much does the CEO get paid? Maybe you can find a U target in his bank account rofl

Burdekin Pacific steps into copper
August 31, 2005 - 3:14PM
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Gold explorer Burdekin Pacific hopes to take advantage of strong copper prices when becomes an instant copper producer with the acquisition of the Redbank project in the Northern Territory.

Burdekin will pay $750,000 in cash and issue $3.15 million worth of shares to acquire private mining outfit Redbank Mines Ltd, which holds the Redbank mine, 40 kilometres from the Queensland border, and produces copper on a small scale.

Burdekin chairman Kim McGrath said the mine purchase offered a low-risk entry to the copper business and would provide the company with immediate cash flow.

The mine has a resource of 4.2 million tonnes grading 1.5 per cent copper for 64,910 tonnes of contained copper.

The acquisition also includes the existing infrastructure and operating plant and equipment.

Managing director Gino Vitale said the project was advantageous for Burdekin on a number of levels.

"The project has several facets including cash flow from the treatment of high-grade stockpiles, immediate oxide drilling targets and a highly prospective tenement package," he said.
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Up until the purchase Burdekin had been focused on exploring its Mt Kasi gold project in Fiji.

Burdekin will raise $4 million in a capital raising to underpin exploration and development activities and plans to change its name to Redbank Mines.

Shares in Burdekin gained 0.1 of a cent to 1.1 cents.