Well I have to admit that I am now thoroughly confused.
You say:
"The most reasonable expectation is that the grade is running at 2.9% copper as per the phase 2, 35 tonne bulk test results."
CDU in yesterdays report says
Native copper ore (native copper contains 99.8% Cu) constitutes ~25% of all ore to be processed through the Rocklands Process Plant in the first 10 years, and will be predominately sourced from a 180m deep, up to 40m wide, continuous and pervasive native copper zone that is also associated with large quantities of chalcocite (chalcocite contains 79.8% Cu).
There is quite a difference 2.9% verses 99.8 *25/100 =25% without taking into account the chalcocite etc.
Perhaps someone can sort me out?
CDU Price at posting:
$1.83 Sentiment: None Disclosure: Held