cudeco matters, page-43

Aka,

The latest drilling announcement for Rocklands South is again showing high grades. The presence of silver [ not used in the copper equivalent calculation] is, as far as I recall, a first for Rocklands South and gold results are to follow .

Wilgar is rich in silver as well as gold , uranium and other base metals. It, along with Rocklands South and Las Minerale, will contribute to profits as well in coming years. It will also ,like Las Minerale and Rocklands South, have the low cost advantage of an open cut with ore starting from surface.

With the way the drilling is progressing in various locale, Cudeco is preparing for the future .

We have also been advised by CuDeco that Fairfield contains a zone of mineralisation of sufficient grade to warrant inclusion in the Rocklands Project Resource Inventory.

It should also be remembered the numerous other targets yet to be drilled or fully drilled and the new lease awaits the drilling rigs as well.

Mining is to proceed at a much higher throughput of 5 million tonnes per year with a compressed time span of 6 years.

Wayne has stated on a number of occasions that, providing the prevailing conditions are right, the plant could be expanded to 10 million tonnes per annum.

I am well are of the point you have raised about the possibility of a Chinese takeover. If they were to make a move now ,then they would have to offer more than the current price which would make buying CuDeco shares a sure bet.

We do not know their intentions . It may happen. It may not. When the time comes if it ever does, I will appraise my position and not before..