Saturday, June 07, 2014

India Resources clinched Surda copper contract extension
[Editor: Shriram EPC Ltd was recommended to the Premium Group members, on last Friday at around Rs.36-37, for a target of Rs.42. This scrip is from the reputed Ennore Coke group]
Friday, June 06, 2014: India Resources has advised that the Board of Hindustan Copper has approved an extension of its Surda copper operations contract to March 2017, or the date of completion of the Surda Shaft Sinking and excavation contract awarded to Shriram EPC.


The simultaneous execution of the Surda operations contract and the Surda Shaft Sinking contract was the remaining condition precedent to this agreement.

IRL is a junior copper producer, and has been posting strong sales from its Surda mine in India.

The uptrend and consolidation of copper production and sales is impressive for the $3 million company, and it is well leveraged to increased copper prices.

IRL also controls diamond and iron ore tenements in India.

Source: Proactive Investors, Australia

Note: Due to some unavoidable family issues, I might not be present in the markets at least on Monday and Tuesday; unless, something dramatic happens. Due to some  nagging family issues, I am not able to concentrate on the market fully at this crucial hour. Also, kindly note that, I do not have any LIFE-TIME PAID PACKAGE--I at least maintain some standards. Hence, please do not send me repeated requests to start such ODD PACKAGES. Anyway, Happy Investing!! 
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