Ann: Binding MOU with Sinosteel, page-51

Hoots,

Pasminco went tits up with a circa $3Bill loss with approx 1 bill shares on issue...13 years ago . Successors, Oz minerals flogged it off to MMG who made good money out of it...and are now looking at keeping the operation going on the tailings for another 7-10years...albeit with a 2 year downtime and maybe revitalising the Dugald river project to utilise the current Century infrastructure to some degree.

CRA was well before Pasminco and you are now talking about 15 years or so prior to current CDU activities.

CDU less than a quarter of the now well deceased "Pasminco's" shares on issue ..they are into copper as a prime resource (not zinc) and have nothing to do with Rare Earths (LYC) as was mentioned in Jantimot's post. Janti should know better about comparing "apples with apples", not apples with pineapples.

CDU does not have that many shares on issue for an about to be large scale producer with heavyweight off takers and investors, not to mention other off takers wanting a position.

Did WM get shafted from CRA? ..13 plus years ago .. I don't know and what does it matter and who cares currently ??!!!

The resources sector is littered with shaftee and shaftor types .. especially over the course of 2-3 decades. Who was right or wrong?? who knows? Ýesterday's news is just that . Today is current.

From my experience you normally start off with an acceptable binding term sheet (usually version 20) to progress to an MOU ( in the form of a HOA) subject to due diligence, where, after satisfactory DD on nominated timeframes it goes to a binding MOU. The binding MOU then takes a form of a binding HOA. All terms and conditions are then met and settlement takes place at an agreed time and venue.

That is my experience .. more than once. So why should the Sinosteel binding MOU be any different . What is the problem? many listed companies would give up one of their testicles to have a binding MOU signed and executed in today's market climate.

CDU have a very good resource of copper and it appears many overseas majors want a slice of the supply pie NOW...regardless of the typical resources industry time blowouts.

The Oz dollar is heading in the right directions for exporting miners with the consequential benefit to profitability in OZ dollar terms. The buyers , I would assume are buying in $USD and the local contractors and workers are being paid in $AUS equivalents...shares or cash.

The main game in my opinion is to get to full scale production ASAP and the rest will follow... depends on what you are after?

Copper is in demand and will be for some time (my opinion) .. regardless of the sceptics and LME followers out there. What Price?? If you want a product, you will pay the commensurate price... supply and demand situation.

You probably know all this...you are entitled to your opinion and you are also entitled to a reply.

It feels really good at the moment not to be involved in a public company with anything I or our group is in involved in.

HC posts present a very good educational grounding for non listed companies contemplating a listing on the ASX and I am not centring my view on CDU solely ...its across the board. No wonder á few ASX companies have delisted in Oz and taken up stumps in other countries.

Where is the impartiality on this CDU thread? The dominant posters are the minority non holding posters hell bent on bagging or nit picking, detrimentally, anything that is announced and announcements happen very frequently from what I observe.

The copper buyers don't give a rats about the posts .. all they want is a product and they are happy to wait to get it, otherwise they would not want to sign up for off take.

So what is it about the incessant detractors on this CDU thread ?? what is their motive? Are they bent on destructing resource companies(CDU here) for their own gain? Is there a serious grudge...payback maybe??

Many people have burnt their backsides on the ASX, that's how it is ..high risk for high rewards investing style ..not heeding the "caveat emptor" disclaimers...theoretically.

I have my views, but I do not give a flying fart anymore ..had enough of the crap here, waste of time to post anything else on this thread.

Good riddance many will say and so will I.

HR

No advice .. just my views on CDU rubbishing posts. All the best to the long termers and supporters of Australian new mining production companies in a very,very tough market at this point in time. CDU seems to be wanted by many Global copper off take buyers including Glencore ..surprise ,surprise.!

The "market" may have a different view ... whoever controls it?