Yesterday shares in CuDeco Limited (ASX:CDU) closed 5 per cent higher after the copper explorer said its Rocklands project, near Cloncurry in Queensland, is progressing towards production and updated the market on developments.
Earlier this year CuDeco inked a 20-year offtake deal with China Oceanwide International Holdings Co.
The Hong Kong-based company has agreed to buy a minimum 60 per cent of output from Rocklands.
Yesterday shares in CuDeco closed 5.02 per cent higher at $3.35.
In the 2011 financial year CuDeco booked a net loss of $3.6 million.
