Altona Mining's Roseby Resource passes 1 million tonnes contained copper

[Sparty]

ROSEBY RESOURCE PASSES ONE MILLION TONNES OF CONTAINED COPPER

1.1 million tonnes of contained copper at Roseby

The new global resource estimate for Roseby is 177 million tonnes at 0.6% copper and 0.06g/t gold for 1.1 million tonnes of copper and 296,000 ounces of gold

20% increase in contained copper metal from upgrade of Little Eva Resource

Little Eva is now the largest deposit at Roseby, with further resource upgrades expected as drilling progresses

About Altona
Altona Mining Limited (ASX: AOH) has two major copper assets and a clear strategy to build a profitable copper business. The immediate priority is to take the Outokumpu Project in Finland into production through developing the Kylylahti mine and refurbishing the Luikonlahti processing hub. Growth will be delivered by expanding production and by developing other resources in the
area.

The Roseby Copper Project near Mt Isa in Queensland is one of Australia's largest undeveloped copper projects. The Company's aim is to increase resources well beyond 1 million tonnes of contained copper and to upgrade the DFS to a production target of 40,000tpa copper. Altona will take Roseby to a development decision in parallel with developing the Outokumpu Copper
Project.

I hold AOH

[Sparty]

CDU and AOH share the same postcode and both have remarkable copper deposits.

CDU probably has more of a mixed bag including copper, gold, uranium, tellurium and molybdenum, while AOH's Roseberry deposit is said to be one of Australia's largest deposits.

CDU seems to have achieved a lot re local Cloncurry infrastructure and has a port facility locked in.


There clearly are some great synergies and CDU combined with AOH would make the combined entity an Australian copper giant with a very low EV:Resource.

[Sparty]

http://www.altonamining.com/videos/m...lks-about-life

[Sparty]

With the $105m sale* of the Finland Outokumpu Project AOH last week (Early July 2014) is now in position to start advancing their Queensland Rosby project said to be one of the largest copper resources in Australia if not the world. *subject to shareholder vote

This added with a 15c per share payout to shareholders makes AOH a very interesting proposition as does their having more cash than their market cap effectively meaning that Rosby is essentially "free".

Personally I'd like to see AOH become a producer with Rosby as it will have a very long mine life and quite low costs and by paying shareholders the 15c a demonstrated willingness to share the wealth.