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CDU - Cudeco Limited

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YEP, SEPT NEWS, oops caps lock, will be the big one.
I am stoked to be honest, as my tax comes back next week, and most is going on cdu

and maybe buying in low $3's, not the $4 + I had expected.

3000 a week extra, how many do you have havingfun??
geez, I wish I had that many
 
yeah ,started with 20,000 , now have around 30,000, would like to try and get to 50,000 by the time the sept ann. comes.....but we'll have to see.
Seven more drill holes contained visual minerisation.... dont know how long the assay results will take for these,but they may signal the last chance to get any below $4.

3rd Aug trades , 2days before latest ann. saw a couple of significant buys of over 100,000 shares [over $300k] didnt see any sells to match them.

Dont be afraid to sell yours on the little runs,buy back on the slide and pick up extra shares, not that difficult to pick the range.Cant see it dropping below $3 or trading much above $3.30 in the next couple of weeks unless there are some who want 2 force it down[which is possible] or tyhe next assay results come early
 
Still have the faith.......speaking to few people in the industry and Sept. resource statment will be the test.
 
not one to listen to any of the speculation .... having said that has anyone else heard about the takeover talk?????
 
anyone care to guess at Waynes target price????? MINING NEWS 18th AUG



We're vindicated: CuDeco's McCrae


Paul Garvey
Friday, 18 August 2006
CUDECO executive chairman Wayne McCrae says he feels "completely vindicated" by recent results from the company's expanding Rocklands copper project in Queensland, saying the Australian Stock Exchange erred in compelling the company into a downward revision of the project's resource earlier this year.



Drilling at CuDeco's North Queensland copper projects
CuDeco yesterday announced its latest drilling at the project had extended the strike length of the mineralised zone to 950m, the same length extrapolated in the 59 million tonne resource the company was made to halve in July.

Speaking to MiningNews.net yesterday from the project in Queensland's Cloncurry region, McCrae said the latest results proved the ASX was wrong in suspending the company for 10 days in early July while the company reconsidered the resource calculation released on June 29.

"They [the ASX] have got to regulate the companies that trade on the stock exchange, I can understand that, I just think there could have been a better way for them to handle that," McCrae said.

"Number one is get on a plane come up here and have a look, instead of trying to do it out of an office in Sydney."

McCrae said he maintained that the original 59Mt resource that sparked the controversy was compliant under the JORC code.

"We complied with the JORC code, and the actual resource on June 29 was done by a competent person qualified under JORC. That's what we couldn't understand. The company didn't do it, an independent consultant did it," he said.

"We re-categorised it because the ASX wouldn't let us back on the market unless we did.

"The ASX wanted it re-categorised and that's what we did but that was done for them and not for us."

McCrae said yesterday's results justified the 950m strike length over which the company's consultants had originally extrapolated the resource, and added he thought the company would be "more than vindicated" by September.

"I want to reiterate that while the stock exchange got this one wrong, they get most of the other ones right. There's no animosity at all, and that's why we haven't worried about it. We knew we were going to get there [950m strike length]. Things just aren't 100m wide and peter out. They don't just stop.

"If the thing was 3m wide or 5m wide, you might have something to worry about, but we're consistently getting intersections of between 50m and 150m width, so we knew we were on to something majestic."

McCrae – who almost had both legs amputated several years ago after being involved in a helicopter accident – said he was unperturbed by the criticism directed towards himself and the company from certain sections of the media in the wake of the July resource revision.

"I discovered the Century zinc deposit, and copped exactly the same flak … so it was déjà vu to me, water off a duck's back, to tell you the truth.

"When you've got grey hair, when you've been in a helicopter crash that almost cut both your legs off, there's not really much anyone could do to hurt you."

McCrae also played down suggestions the metallurgy of Rocklands could make processing of the project's ore difficult, saying assaying of drill core suggested the ore had favourable metallurgy.

"We haven't done metallurgical test work, and nor do we need to at this stage, but it's a similar deposit and style of mineralisation to Ernest Henry, and when the laboratory do the assays they're actually telling us the metallurgy is really good," he said.

"The metallurgy is fairly simple, there's no arsenic or any of those things you don't want in an ore body like this. Basically you can base it on exactly what Ernest Henry's is."

CuDeco has had the benefit of using its own onsite laboratory that is maintained as part of the company's existing copper sulphate openpit operation, which has been operating at the project for three years.

McCrae confirmed CuDeco was in discussions with a number of parties interested in involvement in Rocklands, but ruled out the possibility of a joint venture over the asset.

"We're talking to a number of [interested parties] at this stage, we're going to retain 100% of it for as long as we can, and as far as joint ventures go, no there won't be a joint venture, but there might be an agreement with one group to do the mining and another group to do the processing, that more than likely will be one option. We'll own 100% of it or none of it, it'll be one of the two," he said.

"If we get taken out, then we get taken out, but as long as we get value for the shareholders, I don't really care."

McCrae, who owns just under 20% of CuDeco's issued capital, was reluctant to disclose a price tag for the project.

"I've got a price in mind, but if I tell you it'll be across all the papers tomorrow," he said.
Click here to read the rest of today's news stories.
 
abc news today:

Monday, August 21, 2006. 9:38am (AEST)
Law firm may sue CuDeco over stock prices
Law firm Slater & Gordon is investigating the possibility of suing copper explorer CuDeco.

CuDeco's share price jumped from $3 up to $10 in early July, a week after the company announced its latest copper discovery near Cloncurry.

A Slater & Gordon spokesman says lawyers may launch a class action to recover investor funds lost when the share price later dropped.

Chief executive Wayne McCrae says CuDeco had nothing to do with the stock's price.

"It was basically caused by market sellers selling short into the market - in other words selling stock they don't have and having to buy it back," Mr McCrae said.

"What happens if the market keeps moving forward then those short sellers have to get into the market and buy it back at a higher price so that was purely forced by short selling - it was completely of their own doing.

"When the stock market starts to move, it's basically outside the control of the company."

The latest drilling results from the Cloncurry site indicate the deposit is 950 metres in length.
Click to expand...

http://www.abc.net.au/news/newsitems/200608/s1719577.htm
 
NettAssets said:
I really hope you are right HF but some judges seem to be quite removed from financial reality
John
Click to expand...


There will be about 100 other companies ****ting themselves if they do and are successful.......
 
Might have something to do with Escondida. That's what crazyjim on another forum reckons.

Other copper explorers are also up
 
Dr Stock said:
Might have something to do with Escondida. That's what crazyjim on another forum reckons.

Other copper explorers are also up
Click to expand...

If they were actually mining the stuff and not just exploring for it ,id agree
 
If they were actually mining the stuff and not just exploring for it ,id agree
Click to expand...

Well if HGO CDU CQT all have copper in the ground and the strike causes copper to go up then maybe the market may think they are worth a little more.

I think crazyjim is right.
 
yeah you could be right,but by the time cdu gets any copper out of the ground to actually sell, the strike in chile will have been over for 2 years
 

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