debt before dilution, page-37

I see a bit of discussion in the comparison between SFR and CDU.

SFR took 14 months to build a 1.5 million tonne per year single flotation plant and borrowed around $390m to do so. As I read, CDU has a 3mtpa process plant for four circuits. Flotation for the gold/copper concentrate, gravity circuit for the native copper, circuit including secondary ball mill for the cobalt/pyrite and a magnetic separation circuit for the magnetite. So as I see it "thru rose colored glasses" that the CDU plant is double the through put of SFR and with four circuits so basically 8 times the size of SFR. CDU has already announced that they now own the plant, so if there is any more capital required, one can only guess that it will be for the construction of the process plant and mining costs (Working Capital) I recently built a $400,000 house, took 12 months to build and we are expecting a $300m plant to be built in less time than my house. Considering the plant has to be imported and constructed in the middle of nowhere I reckon if it can be built in two years would be an achievement in itself.

When I read about BHP and Rio and other bigger companies they are talking 5 years construction. I remember reading about the Olympic Dam copper project, it was going to take BHP 5 years just to access the ore in the open cut. CDU is talking early mid 2014 and considering they reported they only got the EA approval in December 2012 its not a bad achievement to be this far advanced. I am expecting a dividend in the first year of operation greater than the current share price. Thats what Wally calls Gold. Thank you M&G for being so kind and giving me the opportunity to steal your stock at $1.38c. Please keep selling. I was never that fond of Poms but now I loves them. DYOR Cant see CDU doing a placement of rights issue at these prices and the fact that WM is still overseas point to a big surprise. Can smell it. This is what makes CDU so great, you never know what is going to happen next.

Ill punt the experience, for some reason always wins over academia.