cobalt, page-38

Hi Brett,

I tend to agree with you.

The JORC of 2010 set the 10 year mining figure and everybody rightfully are obliged to work within that guidelne.

If people think/know that it should be higher, they holler out for a DFS so that they can be assured that their investment will be safe either selling at a higher price or waiting for dividends. The company has survived the shorting epidemic of the last 3 years. Also the need for a DFS to raise money is a non-event for CuDeco. WM has raised the cash for Rocklands Mine, Rail and Port facilities at a minimum share price of $2.50. CuDeco has no debt.

Notwithstanding, the JORC is set until another EIS is prepared to officially alter it. No hassle for the next 5 years as I see it.

Of course, in the meantime, the long-term holders are accumulating. The Top 200 shareholders of CuDeco hold close to 80% of the company. Some of the Nominee Accounts are the only ones losing shares.

Hoping for some DSO news very soon.


cheers,

Max