I doubt if the raising will be at 10p - I've bee3n saying let's...

I doubt if the raising will be at 10p - I've bee3n saying let's work on 6 or 7p (15 - 17.5c)

Even at 5p - that 12.5c - which at 52% is still a nice lift for us.
The reason the price is still hanging around the 2c is that nothing is conclusive until the paperwork is don'e.
Once it gets closer to a done deal, you will see your movement happen.

My valuation was rough and from August I believe. There have been more anns since then, which have actually improved and changed the early workings.

Here's part of my old post that dingo is referring to - but since then, Korab has been sold off, giving us more cash and the Aim listing has been delayed.

History:

Here's what I've come up with from the quarterly, along with the other odd bits they've given us too.

167m Congo Copper shares at IPO level of 10p = AUD40m
Cash at Hand = $1.2m +
1.6m Uranium Aust Shares at par 50c = $800k
Plus Smelter royalty ex Korab in future

Total value say $42m .... with upside in SAMR float and Uranium Aust floats.

587m shares on issue = 7.15cps BEFORE anything new backed in ... (hope to hear more about that on or before August 14th)

So at 7.15cps with potential upside deals - why are we trading at under 2c? Does the market have NFI - or am I missing something?

Risk = Cu price doesnt hold up and the Congo Copper float on AIM doesn't proceed , although this is probably covered off now and simply awaiting approval at meeting Aug 14th.
Remember Congo Copper is only raising GBP2m at 10p so hardly a big ask.


Then there is the Chinese interest in developing the Congo:
That can only work in our favour down the track:

Article:

FYI - Spotlight on the Congo!

China opens coffers for minerals

Copper is just one of the many sought-after minerals
China has signed a deal to loan the Democratic Republic of Congo $5bn to develop infrastructure and mining.
Infrastructure Minister Pierre Lumbi said the money will be spent on building roads, hospitals, health centres, housing and universities.

In exchange, China will get rights to DR Congo's extensive natural resources, including timber, cobalt and copper.

A recent study concluded that China's main interest in Africa is to guarantee supplies of raw materials.

This is the largest single loan to any African country of the $20bn that China has pledged to finance trade and investment in the continent over the next few years.

A first phase of $3bn will finance big transport infrastructure projects in the DR Congo, including a 3,400km (2,125 mile) highway between the northeast city of Kisangani and Kasumbalesa on the border with Zambia.

There will also be a 3,200 km (2,000 mile) railway to link the country's southern mining heartland to the main Atlantic port of Matadi in the west.

Additional plans provide for the construction of some 30 hospitals, more than 100 health centres and two universities.


Hundreds of trucks a day cross the border with Zambia

A further $2bn is earmarked for rehabilitating the crumbling mining infrastructure and setting up joint ventures in the mines sector.

The state mining conglomerate Gecamines went bankrupt in 1990 and since then there has been a free-for-all that sees hundreds of giant 36-wheel trucks plying the roads each day, carrying mineral-rich ores across the border to Zambia.

But some analysts argue that the return on China's apparently-generous loan is likely to cost DR Congo dear.

New partnership with Africa

The official Xinhua press agency recently estimated there are at least 750,000 Chinese working or living for extended periods on the continent, a reflection of burgeoning economic ties that reached $55bn in trade in 2006.

Chinese trade and investment has galvanised mineral production from South Africa (manganese) to Niger (uranium), and from Sudan to Angola (oil).

Much of that activity reflects an intense appetite for the African resources needed to fuel China's manufacturing sector, but big Chinese companies have quickly become formidable competitors in other sectors as well, particularly for big-ticket public works contracts, like the ones now proposed for DR Congo.


Chinese workers are engaged in dozens of African road-building projects

China is building major new railroad lines in Nigeria and Angola, large dams in Sudan, airports in several countries, and new roads almost everywhere.

One of the largest road builders, China Road and Bridge Construction, owned by the Chinese government, has 29 projects in Africa (many financed by the World Bank or other lenders) and offices in 22 African countries.