LADY ANNIE COPPER MINE•Copper cathode production up 24% on the...

LADY ANNIE COPPER MINE
•Copper cathode production up 24% on the previous quarter at 4,480 tonnes
•Copper sales up 50% on previous quarter to 4,891 tonnes copper cathode
•Net revenue up 92% on previous quarter to $38.6M
•Ore crushed and stacked for the period was 591,175 tonnes at a grade of 0.97% Cu
•Unit cash costs for the quarter were US$1.15/lb, at an A$ to US$ exchange rate of 0.9437 in line with expectations and reflecting year end adjustments and inventory movements
•Quarterly average unit sale price net of hedging was US$3.38/lb, a margin of US$2.15/lb over the unit cash cost
•Construction works for the expansion to 30,000 tonnes per annum on schedule and on budget
•Commissioning of the expanded electrowinning and solvent extraction process areas scheduled for completion in September 2008
•Production ramp up to 25,000tpa is scheduled for late December 2008, and to 30,000tpa by mid 2009
•Lady Annie pit operations scheduled to commence in September 2008
CORPORATE
•CopperCo shareholders have approved the merger of the Company with Mineral Securities (MinSec), passing all resolutions to progress the merger at a General Meeting held on the 16 May 2008
•The Company is offering 2.2 CopperCo shares for each MinSec share
•Release of Takeover Documentation to MinSec shareholders was effected 30 June 2008, including Prospectus and Offer Documents. The Offer remains open until 1 August 2008
•The proposed merger will create a diversified global resource company

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