CDU - Cudeco Limited
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It's out -
MEASURED AND INDICATED RESOURCE
30.94 Mt @ 1.24% Cu Eq
(0.80% Cu Eq cut-off) (850 million lbs Cu Eq)
RESOURCE ESTIMATES FOR ROCKLANDS PROJECT USING VARIOUS CU EQ CUT-OFF GRADES
Using 0.25% Cu Eq cut-off
Total Resource 157.0 Mt @ 0.56% Cu Eq (1.93 billion lbs Cu Eq)
Measured and Indicated 101.2 Mt @ 0.62% Cu Eq
Using 0.15% Cu Eq cut-off
Total Resource 245.0 Mt @ 0.42% Cu Eq (2.27 billion lbs Cu Eq)
Measured and Indicated 151.0 Mt @ 0.47% Cu Eq
Also Magnetite resource -
Magnetite Resource
Above a 0.25% CuEq cut-off, an Inferred Resource of 157Mt of magnetite (~Fe3O4) mineralisation with a grade of 2.9% Davis Tube Recovery (“DTR”) has been estimated. DTR represents recovered magnetite from samples in a magnetic recovery assay process. Above a 0.15% CuEq cut-off, the Inferred estimate is 245Mt of magnetite mineralisation at 3.17% DTR. It is planned that magnetite will be recovered in the ore processing plant as a concentrate.
MEASURED AND INDICATED RESOURCE
30.94 Mt @ 1.24% Cu Eq
(0.80% Cu Eq cut-off) (850 million lbs Cu Eq)
RESOURCE ESTIMATES FOR ROCKLANDS PROJECT USING VARIOUS CU EQ CUT-OFF GRADES
Using 0.25% Cu Eq cut-off
Total Resource 157.0 Mt @ 0.56% Cu Eq (1.93 billion lbs Cu Eq)
Measured and Indicated 101.2 Mt @ 0.62% Cu Eq
Using 0.15% Cu Eq cut-off
Total Resource 245.0 Mt @ 0.42% Cu Eq (2.27 billion lbs Cu Eq)
Measured and Indicated 151.0 Mt @ 0.47% Cu Eq
Also Magnetite resource -
Magnetite Resource
Above a 0.25% CuEq cut-off, an Inferred Resource of 157Mt of magnetite (~Fe3O4) mineralisation with a grade of 2.9% Davis Tube Recovery (“DTR”) has been estimated. DTR represents recovered magnetite from samples in a magnetic recovery assay process. Above a 0.15% CuEq cut-off, the Inferred estimate is 245Mt of magnetite mineralisation at 3.17% DTR. It is planned that magnetite will be recovered in the ore processing plant as a concentrate.
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Well the shorters have won, what a JOKE, they have shut the ramp site down so they cant talk about how bad this has turned out to be.
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Not looking good. Not looking good at all!! Oh well...that's the life of a Hotcopper stock!
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I don't think they have anything. You'd have to start thinking that the bs they have given the market about on going JORC definition is a complete and utter sham. How long has it been since they first produced a target? 4 years? Unbelievable.
Well said mate.
This is no advance on what they quoted 3-4 years ago as a resource. Down 38% and heading south. Their resource is spread far and wide so hardly worth starting as a project.
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well i did follow the HC threads and bought as vectorvest had a buy on CDU
so what i dont understand now is that the 2 litigants are being taken to court for telling the truth? as the JORC proves or what?
the potential charges seem vague but if the 2 litigants said that CDU was not being truthful ie not releasing the JORC for many years and relying on ramping then how will this stand up in court. You only need to see today that the SP has TANKED and the shorters are in the pub celebrating.
please someone throw some light on this event
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just checked the home page
The CuDeco helpdesk has closed for the time being, please check back shortly.
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This is a major event for the Australian markets, IMO, and could be an ominous signal for the end of the mining boom.
The thing to learn here is that those who try to manipulate and control everything for their own ends will usually do extremely well in the short to medium term, but will always come unstuck in the end.
Stock chat forums who try to manipulate and control what people post will come unstuck (I like it here because it's free from nazi moderators hell bent on preventing people saying naughty words).
Companies that try to manipulate and control what happens to their share price will also come unstuck.
I can't see CDU recovering from this very hefty change in sentiment. The ann might be ok but as we know, sentiment tends to overrule fundamentals. I expect further downward jolts to the share price.
The thing to learn here is that those who try to manipulate and control everything for their own ends will usually do extremely well in the short to medium term, but will always come unstuck in the end.
Stock chat forums who try to manipulate and control what people post will come unstuck (I like it here because it's free from nazi moderators hell bent on preventing people saying naughty words).
Companies that try to manipulate and control what happens to their share price will also come unstuck.
I can't see CDU recovering from this very hefty change in sentiment. The ann might be ok but as we know, sentiment tends to overrule fundamentals. I expect further downward jolts to the share price.
skc
Goldmember
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This article said
Compare that to the CDU announcement which says
So that's 40% less than what the reported expectations are. Interesting how the stock price has fallen 40%.
Anyone like to put a valuation based on these resource numbers? The market is saying the ~38,500 tonnes of copper is worth $360m, or over $9,000 per tonne (in the grounds no less). Doesn't seem to make sense as copper is only worth ~$7500-8000 per tonne.
Have I got the numbers wrong? Or more share price falls to come?
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more to come
see the history of CDU and they have ramped the co before when the stated resources that were maybe 50% over
CDU were closed for a while so that the pros could determine the truth
now it looks like its happened again
overstating the resources
thats why I dont undertand why they are wasting stock owners money in taking this case to court
should be a law against it
Blackjack, they will never take anyone to court, that little stunt was to shut down hot whoppers so as we can't complain about all the untruths that have been posted about this company. If they do goto court, we should then take the main ramper to court for all the untruths he has been telling us. They can NOT have it both ways.
, that little stunt was to shut down hot whoppers so as we can't complain about all the untruths that have been posted about this company. If they do goto court, we should then take the main ramper to court for all the untruths he has been telling us. They can NOT have it both ways.
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How is one companies chest thumping going to bring an end to a legitimate industry? The mining industry is here to stay and not coming to an end because of one entities BS. It is riding a wave at the moment and CDU will not stop it imo.
Yes the shareholder will be the one bearing the pain as usual and McRae will be off with some cash. That doesnt mean that growth cycles will slow down or other mining companies will experience any slow downs due to CDU statements or anything anyone has to say on a forum about it.
Did childcare die after ABC? No, it is more than viable.
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In itself, CDU's price action won't bring an end to an entire industry, but it will affect the broader market sentiment in quite a drastic way, and that can have flow on effects. In a strong bull market, traders forgive these sorts of things and move on. In the current climate it can be the hair that breaks the camel's back, if you catch my drift.
It's highly likely that CDU's threatened law suit was entirely designed to stunt criticism in the knowledge that a hugely disappointing JORC was about to be announced.
The MD Wayne MacCrae can hide behind lawyers for so long but eventually he will have to face shareholders at an AGM. Of course he may try to hold the next AGM in Alpurrurulam, Northern Territory to avoid the shareholders queuing up to tell what a good chap he is. Lots of people myself included have been financially hurt by this. Perhaps a class action against CDU might be in order.
The MD Wayne MacCrae can hide behind lawyers for so long but eventually he will have to face shareholders at an AGM. Of course he may try to hold the next AGM in Alpurrurulam, Northern Territory to avoid the shareholders queuing up to tell what a good chap he is. Lots of people myself included have been financially hurt by this. Perhaps a class action against CDU might be in order.
prawn_86
Mod: Call me Dendrobranchiata
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These 2 quotes should be restated to show the unscrupulous nature of some forums. Usually members there would just argue amongst themselves and tell each other it will all be ok once they sue (which never happens), but they cant do this now so perhaps this has woken many up to certain dodgier pump and dump strategies.
