Global Copper Corp. Reports $11 Million Financing and Further Expansion of the Relincho Drill Program

  Chat real-time with other investors about GLobal Copper Corp, by clicking this link: http://www.stockwire.com/GLQ
 
  Global Copper Corp. announced that it intends to complete a financing to raise   up to approximately $11 million through the sale, by non-brokered private   placement, of up to 3 million common shares at a price of $3.65 per share. The   shares will bear a four-month restriction on resale. A finder's fee will be   payable for a portion of the placement. The financing is subject to regulatory   approval and is expected to close within 30 days.
 
  Monday's financial   news was largely subjugated by rumors of a huge $160 billion bid on the   telecommunication industry which boosted the Dow Jones Industrials to a new   level. The Dow closed up 40.89 points to 13,948.14, adding 0.3 % and flirting   eye in eye with the 14,000 yardstick. Whilst the Dow Jones is on frenzy flight   to the sky, the other major indexes tumbled on the ongoing blitz of second   quarter earning reports and inflation statistics and appreciation from Federal   Reserve Chairman Ben Bernanke. At the bell, The Standard & Poor's 500 index   slithered by 0.19% to 1,549.52 after signing a spanking new record of 1,555.90.   The NASDAQ composite index fell 9.67, or 0.36 %, to 2,697.33.
 
  With   acquisition and merger activities making a full-scale assault on cooperate news   recently, investors feel shielded from jitters of a possible rate hike that   shook the market without mercy a few weeks back. Considering the latest talk of   the town which has already been denied by the one of the party involved,   investors could be ogling at the largest cooperate acquisition that has ever   came to occur on the market, outweighing the AOL/ Time Warner record merger. The   investors' world would be contemplating at the creation of a $300 Billion   business. Vodafone, the world's biggest wireless-network provider, made it clear   that every bite of the news was just speculation and its only business with   Verizon is within the 45% ownership of the company's cellular unit, Verizon   Wireless. On a market perspective, Verizon (NYSE: VZ) share value surge by 2.4%   despite the fact that Vodafone finished down 0.6%.
 
  Bringing the   limelight back to Global Copper Corp. let us delve into the company's history   and prospects. In general, the company is a copper development company focused   on the acquisition, development and operation of copper resources and mines. The   company currently controls the Relincho property in Chile and the Taca Taca and   San Jorge properties in Argentina.
 
  Focusing on the content of the news   the company sent out recently to the public, Global Copper Corp. stated that the   proceeds from the financing will be used to continue, and expand, the   exploration drill program at the Relincho project that was initiated in July   2006 and for general working capital requirements. To date, 25,000 meters of   drilling has been completed with three drill rigs operating on site. Based upon   recent drilling success, the drill program is being expanded to include up to an   additional 29,000 meters of drilling and a fourth drill rig is being added to   the program in order to complete the drilling by the end of 2007. The drill   program will be focused on determining whether the known copper and molybdenum   resources at Las Guias extend further to the east towards the previously   delineated mineral resource at Marja.
 
As the saying goes...follow the money!

To see the complete Movers & Shakers Blog go to:  http://www.stockwire.com .

About Stockwire:
Stockwire is a company that is pioneering a new way to  research companies before you invest them. It's called a Stockumentary. A  Stockumentary is a documentary on a publicly traded company. Imagine a Dateline  NBC segment, but on a publicly traded company. We are the first company to ever  bring this type of quality research to investors in this format.