rights issue - 3 options, page-20

Several weeks ago I took a completely unbiased view of CDU as I had never known about the company apart from what I had occassionally read in the paper, usually unflattering.

From this perspective I gathered the picture as I see it. Yes there is alot of history of changing conditions and promises, there always is in most companies.

What I was looking at is where CDU is now. It is a very low cost miner of a high grade resource. Sales have not happened yet but will in the near future. The processing plant is not far off completion as well.

As they are aiming at processing higher grade ore in the early years, production of 60,000t/a is not out of the question. This would lead to profits of over $1/share at current prices and costs. The share price was $2.20-2.40 at the time.
People should be looking at where the company is now, not complaining about the past.