Dow Jones reported that African Copper PLC net loss narrowed to GBP 820,000 compared with a loss of GBP 43.2 million a year earlier.

Main facts:

1. Loss per share 0.10 pence

2. Included in Q3 2008 net loss was GBP 41.6 million impairment provisions of the Mowana Mine property, plant and equipment.

3. Repayment date of Zambia Copper Investments USD 7 million secured bridge loan facility and secured USD 25.4 million bridge loan facility extended to November 30th 2009.

4. Extension allows Zambia Copper Investments time to hold a shareholder meeting for approval for proposed 4 year secured part convertible credit of USD 31,129,100.

5. Initial Bridge Loan and Second Bridge Loan to be refinanced by company out of proceeds of Convertible Loan Facility and Zambia Copper Investments USD 9.9 million share subscription which was completed in May.

6. Mining operations at Mowana Mine recommenced in August with the mobilisation of a new mining contractor.

7. Initial focus on supplying fresh feed ore from the open pit supplemented with tonnage from the 150 kilo tonne high grade stockpile remaining from previous mining.

8. During August and September a total of 45,095 tonnes of direct feed ore was mined at a grade of 1.45% TCu, an increase of 18% above targeted grade.

9. Trend has been sustained during October when 41,702 tonnes of ore were mined at 1.42% TCu versus a target grade of 1.29% TCu.

10. Plant operations were recommenced in late August after minor refurbishments of the crushing units and commissioning of the dry tailings facility.

11. Since recommencing operations a total of 2,427 tonnes of concentrate has been produced with an average grade of 25.32%Cu up to end of October.

12. Recoveries have improved since start up to 51% up from 35% reflecting progressive operational tuning of flotation circuit.

13. On October 5th 2009, copper off take logistics recommenced with MRI Trading AG with the first shipment of copper concentrate leaving by road.

14. Copper concentrate shipments up to end of October have been 1,450 tonnes.

15. During the period under review a Botswana consultant was engaged to carry out the necessary archaeological and environmental mitigation work at Thakadu.

16. Desktop studies were completed and consultative work with local communities is underway.

17. Active archaeological impact assessment and environmental impact assessment work started in early November.

18. Examination of existing geological data was undertaken for Thakadu/ Makala areas with locations requiring follow up geological work being identified.

19. Seeking additional exploitable resources/ reserves in close proximity to known Thakadu and Makala copper deposits.

20. During July Matsitama successfully renewed for a further two year period four main exploration licences in the highly prospective Matsitama Schist Belt.

(Sourced from Dow Jones)