PacMag shares rocket on $33b copper findOctober 5, 2006 -...

PacMag shares rocket on $33b copper find
October 5, 2006 - 3:28PM

Shares in explorer PacMag Metals soared today after it outlined $33.5 billion resource estimate at its Ann Mason project in Nevada, USA.
PacMag said the project has a resource of 810 million tonnes grading 0.4 per cent copper and 0.004 per cent molybdenum, which was a 64 per cent increase on the previous estimate.
Shares in the company shot up 24.5 cents, or 132.4 per cent, to 43 cents by 1325 AEST.
The copper metal in the resources has an in-ground value of $US25 billion based on current metal prices, PacMag said, and there was still room to further increase the resource.
AAP