surely this must be a buy?, page-50

Hi zzedzz,


If you don't like the "CuDeco Shareholder Research" document concerning CuDeco and other ASX Companies trading eventualities, here is a letter from the Chairman,CuDeco, to shareholders at the end of June last year.

"Dear Shareholders,

I would like to advise shareholders of CuDeco that there has been no material change or any other change to the company.

The relentless selling and short selling of shares by a group of Hedge Funds and our largest shareholders is allowable without interference from the Regulators.

The company has an independent analytical report indicating blatant manipulation by four Funds and this has been handed to ASIC for investigation. The company has made a formal application to ASIC to have CuDeco exempted from the short selling.

I, as Chairman, can only apologise for the conduct of these companies and the fact that they are allowed to operate this way. The company has not received a formal
reply from ASIC.

A spokesman for one of the major sellers who recently accepted a placement at $4.00 a share indicated that their selling was because of the company extending its date for the commencement of production.

Ou company expresses that its Diectors work for all shareholders of CuDeco and the reasons behind the extending of the commencement date for production is because the company refuses to accept quotes for various forms of construction of the Rocklands Project because of gouging quotes for civils, concrete and construction, steel and others. The company has saved shareholders more than $150m. in costs to date. The big end of town doesn't appear to be worried by costs, but at CuDeco we are.

The company makes no apologies for the savings to the project, and if it takes a little longer, then it takes a little longer for the benefit of all shareholders. It is probably a silver lining for us at present as the copper price is curently low and we would not want to be producing metal at these prices.

When quotes by contractos are required and tenders put out by mining companies it appears to be an opportunity for a LOTTERY WIN. Unfortunately, for these service providers, CuDeco is a micro managed company, and we are not going to pay these exorbitant and ridiculous quotes that they appear to have been getting from other pojects.

Over 300,000 tonnes of ore has either been stockpiled, or in situ blasted with a current rate of mining at the rate of 40,000 tonnes a day of ore and waste.

The company that is supplying and erecting the Crushing circuit EMS/Index Engineering has confirmed the crusher will be commissioned on the 30th July. The Rocklands Site Management confirmed that the crushing of the Native Copper will commence on 5th August.

The positive side of the selling and deliberate pushing of our stock down is the opportunity, for shareholders to take advantage of the opportunity.

I just ask shareholders to be patient our day will come."



The situation which CuDeco faces, is not uncommon with other stocks.

The High Court of Australia has unanimously ruled that the buying and selling of shares on the Australian Securities Exchange(ASX) to create or maintain a share price is an offence of market manipulation.

And, CuDeco Management has indicated our patience will soon be rewarded - ore stockpile up, copper prices up.

cheers,

Max