www.excoresources.com.au
Exco Resources Ltd has a clear development strategy for its highly prospective project portfolio. The portfolio currently includes the White Dam Gold Project in South Australia and the Cloncurry Copper Project in NW Queensland.
Exco Resources in pre-open pending 'significant transaction' announcement later today
Exco Resources (ASX: EXS) has been granted a trading halt by the ASX pending a 'significant transaction' announcement by the company, with the shares placed in pre-open.
Exco has not provided any more detail but said in a statement the company plans to be in a position later today to elaborate.
Recently, Exco had been pursuing a number of options in relation to the development of the Cloncurry Copper Project.
Earlier in the month after some press speculation, Exco clarified that it was not in discussions with any international entity regarding a takeover bid for the company.
At the end of 2010 Exco established a maiden JORC Reserve at Cloncurry Copper, with the open pit ore reserve estimate; 28.1 million tonnes at 0.83% copper and 0.24g/t gold.
Growing confidence in Exco's ability to establish a sizeable 3 million tonne per annum operation at Cloncurry would not be lost on Xstrata (LON: XTA), with its Ernest Henry operation located just 8 kilometres to the east of the project.
In April 2010, Xstrata said, it "Was looking at opportunities with juniors in the region to help bolster mill feed as the project transitioned to underground mining”.



















