Sean K
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Sorry pj, but can you give a reference to the Capex numbers. Appologies, I haven't been following this one that close. Cheers,
Sorry pj, but can you give a reference to the Capex numbers. Appologies, I haven't been following this one that close. Cheers,With a CAPEX of $A150-200M and high grade ore resulting low OPEX
Be wary on this forum - the HC rampers will be here soon if not already
Some friends have lost lots here - I warned them.
Disc.
I have bought and am still buying a real miner this week.
I traded CDU many times for a small profit.
Just for clarification :
JORC July 2006 - 59Mt @ 2% CuEq inferred
JORC Aug 2010
- 31Mt @ 1.24% CuEq measured (0.8% cutoff)
- 151Mt @ 0.47% CuEq measured/indicated (0.15% cutoff)
- 245Mt @ 0.42% CuEq measured/indicated/inferred (0.15% cutoff)
The resource has quadrupled in size (59Mt to 245Mt), albeit at lower %.
IMO the lower 1.24% measured figure is mainly due to JORC capping of the native-copper figures to 10% when they are in reality often 10-20%. See here
http://www.cudeco.com.au/pdf/CDUAnnounce21.10.08.pdf
Yeah its obviously disappointing that the numbers aren't higher, but a LOT of progress has been made.
Hopefully management learnt a lesson and from here on we get regular JORC updates to prevent future speculation and surprises.
can punters that had stop losses let me know what price they got out at
as i would like to see how many were convinved that this was a sure thing or how many were cautious
isnt it the 30mt the banks, companies and institutions look at when lending money for the mine. The 245mt is only an estimate on what COULD be there, once all drilling is complete.
No. Both figures are "Resource", but using different cut-offs. Banks lend money on "Reserves".
They have been working on this Resource for 4 years and do not have any Reserve figures. That is very suspicious. Especially since most of their Resource is classified as either Indicated or Measured.
Since there is no Reserve, how can we tell if the grade cut-offs used are based in reality or numbers pulled from the air. How can we trust the "3 mtpa" figure?
Be wary on this forum - the HC rampers will be here soon if not already
Some friends have lost lots here - I warned them.
Disc.
I have bought and am still buying a real miner this week.
I traded CDU many times for a small profit.
strachan says holders of cdu should sell
It looks like another analyst has called a sell call on CDU.
Recommendation: CuDeco took anextraordinary length time to update its mineral Resource at Rocklands. Copper and gold grades reported were much lower than the marketand StockAnalysis had expected,based on drill results reported.
CuDeco had not presented long or cross sections of its ore bodies to show the geometry of its mineralisation, without which accurate estimation of tonnes and grade was difficult. The stock remains a sell at current prices.
The ASX need to take action with the company about its apparent disregard for keeping the whole market informed.
The announcement released at 5.18pm is flagged as price sensitive but it appeared as a matter of discussion all day and last night on a number of share forum websites as well.
Additionally, the matter was reported in full in the Financial Review, but the company did not see fit to release the announcement until after the close of the market today.
In my opinion, this is a flagrant disregard for the rules of disclosure.
Does Wayne not understand rules have to be complied with if he intends to keeps his company listed?
Years ago, companies were suspended from trading for this type of breach, and remained suspended until they could provide a guarantee that they would comply with ASX regulations.
Well, I don't know how the law suite against Hot Crapper could be price sensitive. Whoever decided that at ASX HQ must be a member of HC because really, how could that be material to the company. Bamboozling actually. If a company is price sensitive to some anonymous avatars saying they are crap, then they should take a very hard look at themselves.....The ASX need to take action with the company about its apparent disregard for keeping the whole market informed.
The announcement released at 5.18pm is flagged as price sensitive but it appeared as a matter of discussion all day and last night on a number of share forum websites as well.
3 months on from the big fall... CDU has risen from low of $1.63 to today's 4.64, thereby completing the mother of all gap close.
Where to next?
well someone certainly made money on this
didnt they
looking back things seem pretty obvious
Hm, maybe overdone?Was the sell off today overdone?
Just on the surface of it to me it seems sentiment has gone too far the opposite direction.
Some of the figures produced, comparing it to Cadia, for example, look ok on quick glance.
Or, maybe they're stuffed?
Still just smoke and mirrors perhaps.
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