Additional Information
Market: ASX
Sector: General Mining - Copper
EPIC: EXS
Latest Price: A$0.16  (-3.13% Descending)
52-week High: A$0.73
52-week Low: A$0.15
Market Cap: A$54.49M
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Exco Resources
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.

Pdf

Exco Resources completes capital management review of Cloncurry Copper Project

3rd Jun 2011, 5:21 am

Exco Resources (ASX: EXS) has updated the market after a capital management review of Cloncurry Copper Project, after consultation with the company's major shareholders.

The review is subject to the successful completion of the sale, but Exco intends to return $135 million of the after-tax cash retained in the company to shareholders by 31 October 2011.

The Exco board believes that cash retained post distributions will continue to provide for the purposeful growth of the company's remaining asset base.

Ivanhoe Australia (ASX: IVA) has confirmed in writing to Exco support for the reviews outcomes, and the steps the board is taking with respect to the distribution.

Earlier in the year Exco announced that the company had entered into an agreement to sell the Cloncurry Copper Project to Xstrata (LON: XTA) for $175 million.

 

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