IF below is true, cdu could have had income from 2012.
Something not said ?
from the quarterly
Demand for the shipment was so high that the buyer paid a deposit of $US500,000 to secure the furnace and smelter test-work and for the right to purchase the total shipment.
The Company has numerous offers for long term purchase of native copper, but will wait for the outcome of the test-work before proceeding with long-term offtake agreements.
The number of smelters/buyers that applied and inspected the shipment for the test-work, and subsequently applied for a contract for the purchase of the native copper DSO product from Rocklands was overwhelming.
The native copper product is in high demand from smelters, due its clean nature. It contains little in the way of impurities or pollutants, and no deleterious materials of environmental concern. This was very appealing to the smelters.
The high-grade nature of the native copper concentrate makes it suitable for use as copper feed for cooling of the converters during the smelting process, which is usually achieved by recycling blister copper produced by the smelting process back into the furnace. Feeding native copper concentrate instead of re-feeding the blister copper results in significant cost savings to the smelters (which can be as high as 15%), as well as producing a proportional increase in copper production.
CDU Price at posting:
$1.41 Sentiment: None Disclosure: Not Held
