depth, page-83

Hi jtaylor1,

While contradictions about CuDeco Company value, the attractiveness or otherwise of Rocklands, the future prospects of CuDeco, etc. can be debated both subjectively and endlessly, and you must surely agree, they have been on Hot Copper. However,there are two constants that remain and are conclusively demonstrated to be the case in the "CuDeco Shareholder Research" document.

The two constants are:

i. The extensive trading data anomalies, resulting from the trading of CDU by sophisticated investors spanning two and a half years of trading; and

ii. The increasing Corporate ownership by the institutions trading the stock where combined holdings have increased from 14.8% to 38.3% over the same period. This excludes the new major investor New Apex Asia.

This situation represents an extraordinary accomplishment in achieving such high levels of increased ownership without impacting the CDU share price. This may be demonstrating to us how corporate assets are rendered cheap and acquired by stealth while the company's share price is managed through manipulative trading strategies.

The Senate Inquiry into ASIC hopefully will reveal all and not before time.


cheers,

Max