just quoting, page-133

Hi h00ts

Thanks again for the up-date.

The key points made in the later report by MPS on CuDeco Limited(CDU), development of Rocklands copper deposit are:

* 3mtpa mine production to commence in late 2013.

* Total capital costs of A$250m fully equity funded.

* >3% Cueq head grade to produce - 90000tpa for initial 3-4 years.

* initial mining and processing costs
* FY14 projected earning at current prices >A$1.60/share(PER<2.0x)

* Debt free project to ensure high dividend payout ratio (>80%)

8 CDU undervalued vs base case target of A$4.58/share (~A$1.7bn).



It would seem that the low profit/loss figures you listed for later years will need extra output to bolster revenue
I suppose this is why magnetite will play in important part when the higher grades are exhausted.

As I understand it CuDeco Management have increased output and magnetite production under review at the present time.


cheers,

Max