jorc code, page-26

Hoots

"I wonder if CDU will release a maiden ore reserve"

Apparently according to the JORC you cant have an ore reserve without first having a Feasibility study.

"However attention is drawn to the requirement for a Pre-Feasibility Study or a Feasibility study to have been completed for the Public Reporting of an Ore Reserve in Clause 29. An Ore Reserve must not be reported based on the completion of a Scoping Study."

Now here's the funny part, because they havent done a feasibilty study they havent demonstrated that extraction is justified so I guess all that ore they have stock piled they best put back because they cant prove its possible to justify the extraction when current mining activities are @ $1.90 per tonne I do believe.

"An ‘Ore Reserve’ is the economically mineable part of a Measured and/or Indicated Mineral Resource. It includes diluting materials and allowances for losses, which may occur when the material is mined or extracted and is defined by studies at Pre-Feasibility or Feasibility level as appropriate that include application of Modifying Factors. Such studies demonstrate that, at the time of reporting, extraction could reasonably be justified."