CDU 0.00% 23.5¢ cudeco limited

dso crushing underway, page-71

  1. 15,751 Posts.
    kmuirhead,

    Some of that stuff is a bit hard to decipher from time to time.

    1. The announcement says that about 25% of all the ore will be native copper. That does mean that the grade is 25%.

    2. The 35 tonne bulk sample reported on back in 2011 was a sample that included native copper and therefore a sample that represented this 25% of ore type.

    3. Clearly CDU had to work out how to recover as much of the native stuff as possible else 25% of their copper would be lost in the process.

    4. The contained copper in that 35 tonne sample came to 2.92% of the 35 tonnes and it included plenty of native copper because the key part of the test was to show how it could be recovered. Clearly the copper grade of that stuff wasn't 25% but was 2.92%

    5. If you grabbed a bit of native copper that was part of the 2.92% stuff and tested that bit of native copper, it would have tested at 99.8% pure copper.

    6. The key point is that the 2.92% total recovery including the native copper and all other types. Without all that native stuff, that bulk test would probably have come in at about 1% copper contained in the sample.

    7. They could have taken another bulk sample that had zero native copper in it and three quarters of the ore is like that. That would have produced about 1% contained copper.

    MrGann may also be thinking that all that 160,000 tonnes is 25% contained copper to come up with his fantastic numbers. Not so.

    Out of the 30 million tonnes of ore, CDU says now that something like 7.5 million tonnes will have some native copper in it. The grade of that will vary considerably, but when you take a chunk of it and process it, the total copper from all sources will be about 2.92% as per their bulk test.

    Clearly there are some new areas that contain copper where the resource statement didn't expect any. No doubt there are also other areas that should have had heaps of copper but contain less or none. i don't think we will see pictures of those areas or see any reports on them. a JORC upgrade would take all of those swings and roundabouts into account.

    CDU are free to provide an update at any time. If they find that there is a significant difference, then I am sure an update will come out, but it will be a combination of ons and offs as ALL new data will need to be accounted for.
 
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