CuDeco Limited (ASX: CDU) was up 4.9% to $3.24. The copper miner expects to start production in 2012/2013 from its Rocklands Group Copper Project in Queensland. According to the company, it’s one of the richest copper mines in the world, and due to the high occurrence of cobalt, a “world class copper cobalt deposit”. The company is targeting a profit of between $270m and $650m per year, assuming a copper price of A$4 per pound (currently trading around A$3.8) and depending on its ore grades. With plenty of cash in the bank, CuDeco could be one to watch.
