news, page-30

zdsters,

You are obviously more astute than I in working out tonnages . Your 35,000 tonnes sounds good to me.

At say $7000 Australian dollars a tonne ,that works out at $245 million dollars by my calculation.

I would be happy with that. If half of the $245 million were to be distributed by way of quarterly dividends, that would please me.

Dividends probably would not be fully franked in the first few years as I am assuming there would be little if any tax paid so the bulk of the 245 million would be available to Cudeco to do what they wished and one of those things CuDeco has signalled is a greatly expanded exploration program to drill not only the unexplored targets on the original lease but what has been found at depth, plus 8 targets on the 18054 and possibly more on the recently acquired areas.

This will be a massive drilling program taking many years years .

I think a ten year drilling program was mentioned but this was before acquisition of the additional areas.

As for the other matter you raised, in due course we will all know.

We know that direct shipping ore sales are going to happen. Those containers are being filled.

As a long term holder, I am delighted with progress at Rocklands and its long term development.

The open cut at Las Minerale is now showing that serious mining is being carried out and what a wonderful sight to behold .