The low grade ore that was indicated to be less than .5% turns out to be 2.5%.
There is no surprise here as the company has been stating this all along.
On page 8 we get "approximately 600,000 tonnes of ore on 8 of the 12 long-term stockpiles currently building at Rocklands"
That is information without giving information. Why didn't the announcement tell us how much of each head grade was on those stockpiles?
Why not tell the owners how much of the "low grade" ore of less than .5% that is proving to be higher, is currently stockpiled? Why is the company testing and investigating the recovery? Last year they announced successful testing of recovery of high grade ore? If 1000 tonnes was able to be run continuously for ~20 tonnes of copper, then why not continue? 500,000 tonnes of this low grade ore would produce 10,000 tonnes of NCu.
In other words, get on with it, stop testing and investigating and start to produce. This and this alone will produce positive share price activity. The shareholders were promised DSO sales by Feb/March. It is now late April, yet all we get are 'investigations'.
This is precisely why the share price is so low, and why institutions will not go to Rocklands to look for themselves. (that is for a certain director I was talking to at Cloncurry).
CDU Price at posting:
$1.90 Sentiment: Buy Disclosure: Held
