Ann: China Oceanwide requesting FIRB to increase , page-55

re: Ann: China Oceanwide requesting FIRB to i...
sydneyguy,

Mine is a long term investment in CuDeco. It is the quarterly dividends that interest me and with Rocklands having a long mine life with what has currently been discovered and with ongoing drilling exploration over the next ten years prospects are bright for further discoveries and extensions to existing discoveries. Rocklands is in its infancy. The surface has barely been scratched.

I am not surprised that Oceanwide is keen to increase its shareholding in CuDeco up to the maximum allowable. They already have an offtake agreement to take 60 per cent and have previously stated a liking for !00 per cent so they will have a sizeable slice of the dividends as well as a secured supply of metal for 20 years.

Oceanwide would not have committed and be wanting to commit more unless they see CuDeco as a long term viable investment. I have the same strategy.

The beauty of CuDeco is that it is not a single product company . It will produce copper , cobalt, gold , sulphur and magnetite.

This is an important consideration as , in recent times , we have witnessed with Fortesque Metals and Newcrest Mining what can happen when commodity prices for iron ore and gold turn down.

In time Wilgar will be mined. It has gold, silver, molybdenum, uranium and tellurium adding a further mix of minerals.

There is the prospect of some rare earths being added also but this is not conclusive at this stage as only surface samples have been tested.

Another poster has pointed out that copper is not like iron ore or coal of which the world has abundant supply.

In Rocklands we have ore from surface which allows for two open cuts and cheap extraction with Rocklands South new drilling results showing a continuation of a new ore body at depth.

It is no wonder that Oceanwide have recognised the desirability of acquiring as many shares in CuDeco as they are allowed.