will the swiss lose their number 1 qld slot , page-73

"Aka,
Rocklands has a mine life of 50 plus years on what has been found so far and Oceanwide has an offtake agreement for 20 years and the Mining Lease is currently for 30 years."

People are getting way ahead of themselves that's the problem with a comapny that doesn't have a DFS - Rocklands is a nice little deposit but its not Escondida or Olympic dam.

On Olympic dam - it is one of the largest copper deposits in the world and it contains something in the order of 2/3 rds of the worlds known Uranium - After years of government wrangling and red tape to get final EIS approval BHP have shelved it because they deem it not to be Economically viable at this point in time - Thats the advantage of having a DFS you can make informed commercial decisions.

I dont care if Rocklands has a potential 100 year mine life and Yes GFM they do have a 30 year mining licence but currently they only have EIS approval for a 10 year 3mt p/a output - Yes the approval process will most likely be extended as a formality but until a DFS can be produced there is no guarantee that the mine will be economic past year 10.

Even the companies own back of the envelope costings that formed part of the international roadshow only did and investment case based on 10 years- MPS the only broker to have supported CDU over the years have also only done a base case valuation price target and buy rec based on 10 years - how can anyone say for certain that the mine will continue past 10 year's ? At this stage everyone is just guessing and some of the wild exuberance is starting to boarder on fanaticism ( IMO )

hOOt