cdu likelyup soon in senate inquiry into asic, page-177

Max,

You stated that CDU are stockpiling high grade ore. What is the average grade of ore stockpiled? The company hasn't told its owners that yet.

You estimate they have 1 million tonnes. Why doesn't the company tell its owners what it has mined in the last 12 months? Usually when you have something worth telling you tell people about it. maybe there is nothing there yet worth announcing.

Shadow says they will stockpile 30 million tonnes in 6 years. That is 5 million tonne a year average, but you say CDU did about 1 million in the last 12 months. Thats about one fifth the rate that Shadow says. Who is correct on that?

Shadow says I won't believe it if CDU tell us they have 1 million tonnes at 2%. Now what is that based on Shadow? CDU hasn't said anything yet about the last 12 months of mining. Its all the dampers that have said stuff. I don't believe the rampers, but I will believe the company announcement when it comes.

In my view, the first 1 million tonnes ought to be about 3% average as they into the higher % stuff to start with. A 2 % number would be a disappointment in my view.

We shouldn't need to speculate as CDU ought to tell its owners what its digging up each quarter. That is what all other miners do. Why doesn't CDU do the same?