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Ann: Ore Supply Agreement with Glencore, page-16

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Whalewatcher

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14/10/14

10:59

Post #: 14120832
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Originally posted by h00ts ↑

Mal - I believe it means they will use the Glencore facilities to process capacity above 3mt p/a which would mean they wouldn't have to spend any cash to increase the Rocklands plant capacity - Im no expert on this but I presume they would have to get approval to increase their dirt digging above 3mt p/a but this shouldnt present any large problem as there will be no need to increase their tailings dam capacity as it will go to the E.H or Mt Isa dams - eg minimal environmental effect to their current EIS approval.

Shadow may be able to answer this one - What financial arrangements are in place with the other 3rd parties - Do Glencore buy the ore ? or do they charge a toll processing fee ? Also what happens to the cobalt in the CDU ore if processed by the Xmen ?

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Hoots

Two points I found interesting in the announcement are

"supply of an initial 20,000 tonnes of primary sulphide ore for toll-treatment in the Ernest Henry Mine"

and

Any future agreements for ore supply and concentrate purchase, will be based on increased mining for supply, in addition to the 3mtpa to be processed at CuDeco’s Rocklands mineral processing facility

.

CDU Price at posting: $1.47 Sentiment: None Disclosure: Not Held
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