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CDU - Cudeco Limited

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The 1975 report by CRA on the Wilgar Uranium Anomaly is of interest that they thought it sufficiently important to record it . Mention was made of ore grading 39% but no tonnages.
The latest results did not excite the market however but were very good in my opinion.
I am eagerly awaiting the results from dd07 ( too rich to assay by convential laboratory methods) also from 122,123,124 and 126.
I am unclear what Wayne McCrae means when he talks of the extension of Las Minerale _ a kilometre away.
I would suggest that you plot out the reported drilling results and you will find an interesting picture emerging. It is difficult to get a decent overview from perusal of individual reports.
 
Has anybody read the announcement from late this afternoon? Some very high grade results as expected from the native copper but no movement from the market. Possibly too late in the day to get much attention. What do others think?
 
Who Dares Wins said:
Has anybody read the announcement from late this afternoon? Some very high grade results as expected from the native copper but no movement from the market. Possibly too late in the day to get much attention. What do others think?
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well, the announcement came well after the close of trade. However, im pretty impressed by the drilling results so far. More high grade results were recorded. we'll have to wait till monday to see the effect of this announcemnt on the sp
 
Ok sleeper88. I got the times a bit wrong, I'm not in Australia. But why do we wait till monday. Is there no trading tomorrow - friday?
 
Australia day on Friday, so no trades till Monday, nice strategic release just after Trading finished, so we have the whole long weekend to pick it apart, debate over it, and maybe conclude this looks to be a good announcement. Interesting to see what pans out in Mondays trading.
 
Chairman Wayne McCrae is speaking at the Sydney Mining Club tomorrow, no doubt he will be talking all good news so expect CDU to have a rise on Friday.

Riesling
 
Today's Presentation

You can watch it via the CDU website - the four times the size of Ernst Henry comment was interesting!
 
GRTRADER said:
Just started moving - people must have read the results
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hmm..well it took people a while to watch the presentation After watching the presentation, the Rocklands projects looks very impressive. This is a long term hold for me. Can't wait until they drill the wilgar uranium anomaly.
 
Yeah I thought it would have been a lot quicker - I just got in and got out and made a short term gain because i dont have the capital to hold unfortunately. However I agree this is a good long termer too
 
SYDNEY (Dow Jones)--Australian copper explorer Cudeco Ltd. (CDU.AU) is in takeover talks with diversified miner Xstrata Ltd. (XTA.LN) for its Rocklands project in Queensland, Australia, Cudeco's chief executive said Thursday.

"We have had discussions with Xstrata but I can't provide any detail now," chief executive Wayne McCrae told the Sydney Mining Club.

At 0345 GMT, Cudeco shares were up 2 cents at A$3.92.

McCrae said the 100%-owned Rocklands project in Queensland close to an Xstrata copper mine, had the potential of a world class copper project, likely to contain 1.4-3.4 million metric tons of metal.

While drilling was at a preliminary stage, McCrae said the project showed strong similarities to Xstrata's Ernest Hill 120,000 ton-a-year copper mine.

"I won't be at the helm of this company in 12 months time," he said, pointing to a takeover.

__________________

Happy I got in earlier this morning. Will be interesting to see the sp tomorrow once the newspapers report it.
 
I just hope that Xstrata give CDU shareholders a better deal than they did to former MIM shareholders - talk about a rip off!
 
Prospector said:
I just hope that Xstrata give CDU shareholders a better deal than they did to former MIM shareholders - talk about a rip off!
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Well, chairman Wayne McCrae, who in the 1990s lost the Century zinc deposit to RIO certainly wont give away Rocklands without a large sum of money. Hopefully he wont let down CDU shareholders. I wonder if RIO or BHP will fight for CDU as well, just BHP did for WMC resources.
 




sp rose from 3.94 to 4.45 pretty quickly, so someone must think it's a goer.
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Lifted the share price 15%odd. I wonder if this could be considered a market sensitive announcement???







"I won't be at the helm of this company in 12 months time,"
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Certainly won't be if it's another fiasco like the one in July last year!!!
 
McCrae is a goose.

Surely this is market sensitive information that should be released through the ASX - not via a boozy lunch with a journo.

If Xstrata were offering big bucks, why did he knock-out millions of $$$$ worth of shares at $4.10?

He wouldnt be helping the placement participants who were underwater by 20c by flying a kite would he?

Someone needs to protect investors from this spiv
 
sleeper88 said:
speeding ticket issued
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And what a response!

http://www.asx.com.au/asxpdf/20070201/pdf/310s9lswdwd9k0.pdf

The company secretary obviously doesn't have a DJ Newswire feed- otherwise she may have seen Wayne's latest ramp

At least the participants in the placement (of his stock) got a chance to get out.

Has anybody seen the $25 price target 'research report' from his broker yet?

This needs to be nipped in the bud
 
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