quarterly out, page-46

Hi Maxw, you wrote:

"" Also holding up well for imminent Rocklands Mining is the copper price which is still over A$8,200 a tonne on the CDU web-site.""

Was that in $AUD or $USD.??

It looks good when the $AUD is down against the $USD but, don't forget that, for everything that we buy in from overseas, it will cost us more now than what it would have costed us if the $AUD was well up in the Forex.

Now, consider this as an example. If we were to enter into a contract to spend $50mill $USD dollars one year ago for the purpose of buying mining equipment from an overseas entity when our $AUD was worth $1.10$USD, what is the price that we would have to pay for it today on receipt of that mining equipment when our $AUD is only buying between $USD 87 and 88 cents.??? A quick back of the envelope calculation tells me that we would have to fork out approx. $57,5 millions now, while before we would have had to fork out only about 45million $AUD.

So, if one has allowed to spend say USD$200mill dollars for a mine to get to completion while the Foreign Exchange was in our favour and when our $AUD was well up against a Foreign Currency, what is it going to cost us now.??

As for the copper inventory dropping, how come that some market makers are saying that at present there is an oversupply of Copper in the market with the Copper Having The Longest Losing Streak Since 1998 on China Concern (Bloomberg), and that the current Financial position in China is not helping.??

I am not doubting that, at some stage or another we will get to be mining but, at what profits and as to how much dividends we will get, IF ANY, I am not able to say.

A quickly released DFS to the market will sort out the wheat from the chaff and put this never ending and ongoing debate to rest. Now Maxw, why would a company withhold some information that could turn their boat around and heading it to high waters instead of trying to navigate through the mud and continuously hit bottom.
I feel quite sure that, AKA being the sailing man, he would know more than me about boats, and which is the best way to get the boat to navigate and to avoid getting stuck in sand dunes!!! :-) :-)

dyor!!!

Ohhhhh, how I wish it rains. Bloody shocking it is!!! :-( :-(