Brett,
CDU have 12 different stockpiles for grade control, they have clearly stated this. They would have to know approximately what is in each truckload to send it to the correct stockpile. By doing this, they would have a very good idea of the grade in all the stockpiles (approx).
They haven't notified the market that the grade mined is different to what the JORC states.
WM would know what the grades in those stockpiles are (approx), yet he has also recently bought shares on market.
If an executive of a company buys on inside information, that is illegal. I'm suggesting that WM HAS NOT done anything illegal. What your suggesting about the grades is the opposite.
For WMs purchases to be legal, which I believe they are, then the stockpiles do not even represent the 20% above JORC I allowed for, ergo MY guestimate of 285,000t of Cu in the first 19mt of ore is too high!!
WMs recent purchases have actually settled the debate about mining proving the JORC figures to be inaccurate. The ore mined so far MUST be close to JORC, the only addition being the company statement of gaining 22% more ore from the area (grade of this extra not given).
CDU Price at posting:
$1.68 Sentiment: Sell Disclosure: Not Held
