Chinalco Yunnan Copper Resources Limited (ASX:CYU) Managing Director, Jason Beckton presents 'Major Partnerships for Major Discoveries' at the RIU Melbourne Resources Round-up Conference 26-27 September 2012Chinalco Yunnan Copper Resources Limited
(ASX:CYU) is a 78 per cent Australian owned company with Chinese interests. In Queensland we have a copper deposit in a supposed uranium belt; we are one of the few Australian juniors in the porphyry belt in Chile, which is the most competitive copper jurisdiction on earth, and we have a cash flow initiative in Laos which is going well. With our Chinese backing holding 21 per cent of the Company, for a junior we are very de-risk for shareholders. Our market cap is about $20 million.
We explore for copper and obviously find other elements such as rare earths eg thorium, but our focus is copper. Our Queensland/Elaine discovery is situated between Mt Isa and Cloncurry and is now a 26 million tonne resource at 0.62 per cent copper/gold, with significant cobalt. Importantly for economics, this deposit has a high grade gold core of 26 metres at 7.76 grams gold and associate bismuth. So this is a significant discovery which was found through very basic project review.
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