| 03/02/2014: Multi User Rail Load Facility update | |
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ACN. 000 317 251
MARKET RELEASE 3rd February 2014
CUDECO REGAINS CONTROL OF 100% OF STRATEGIC MULTI USER-RAIL LOAD FACILITY IN CLONCURRY
Directors are pleased to advise shareholders that CuDeco Logistics Pty Ltd (fully owned subsidiary of CuDECO Ltd) has now resumed control of 100% of the valuable Cloncurry User- Rail Load Facility to be constructed outside the major regional township of Cloncurry, N.W. Queensland.
The Company has received notice that the transfer of Mining Lease Application (MLA) No 90235 has been completed and approved by the Department of Natural Resources and Mines.
The Company had originally controlled 100% of the project until the Company was approached by the previous QLD State Government, requesting it to bring Xstrata (now Glencore) and MMG into the facility via an equal share Joint Venture (JV). Over the past 3 years the JV partners have completed a range of requirements and conditions, including road design, rail design, environmental, native title and cultural heritage activities. The original design by CuDeco of a
1200m spur-line off the main Mt Isa/Townsville rail line will now be resumed.
Glencore - Xstrata and MMG recently announced their withdrawal from the JV and as a result, CuDeco becomes the 100% owner of the Project.
With CuDeco now in control of 100% of the Cloncurry Multi User-Rail Load facility, and this combined with the CuDeco Townsville Port facility will allow its strategic business model to evolve along the lines of its Mine to Port logistics model.
Also it allows the discussions with the major stevedoring companies and international groups that want to participate in the Project, to proceed with surety, along with the ability to negotiate with other potential users of the facilities.
On behalf of the Board
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Unit 34, Brickworks Annex,19 Brolga Avenue, SOUTHPORT 4215
Phone: +617 5503 1955 Facsimile: +617 5503 0288
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CuDeco Limited
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EXPLORATION STAGE |
CODE : CDU.AX |
ISIN : AU000000CDU1 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
CuDeco is a copper producing company based in Australia. CuDeco holds various exploration projects in Australia. Its main exploration properties are LAS MINERALE and ROCKLANDS in Australia. CuDeco is listed in Australia. Its market capitalisation is AU$ 90.7 millions as of today (US$ 62.0 millions, € 55.9 millions). Its stock quote reached its highest recent level on August 13, 2010 at AU$ 4.38, and its lowest recent point on February 09, 2018 at AU$ 0.20. CuDeco has 394 280 000 shares outstanding. |