cudeco discounted, page-26

"At $1.66 they are a bargain and I would suggest you know that I am right."

Max I think you might be right but I am unsure of that as being fact - The reason for this is I dont know what the final capex costs will be , I do not know how many shares will be on issue at the time the first dividend is announced, I do not know how much the dividends will be or when they will be paid ! Also I am yet to be convinced the Cobalt and Magnetite which make up a considerable portion of the CU EQ resource can be commercially extracted and sold at a profit or what the actual mined tonnages and copper % grades will be ! add to all of that some doubt remaining over funding with the SPP only raising $54m not $85m and the terms of the yet to be finalised $100m loan

It seems logical to me if I am having trouble with these numbers trying to ascertain if CDU.s $400m market cap is cheap or dear then the current chart patern pointing to a sub $1.50 S/P tends to support a belief of the market also being skeptical.