afr: cudeo lawsuit puts the heat on hotcopper, page-23

Raks, CDU didn't get sold off because of shorters, it is because they fell VERY short of expectations. It was drawn, measured and found wanting.

The following was taken from the CDU AGM presentation in Nov 2007 (nearly 3 years ago).... note the TARGET ZONE, 100mt at 1.5% Cu. (this is NOT 1.5% Cu eq)



What did they get? 78mt at 0.53% Cu. 78% of the tonnes at 34% of the grade. Talk about falling short.

And what about it being world class? Have a look at the surrounding area... from the same CDU presentation....



I can't see a single mine in the region that has a worse grade than Rocklands... even Roseby is better, and Roseby has stagnated for years because it is borderline (go research the history of URL/Altona).

Sorry, but the Fosters valuation of $1.20 is very generous IMHO. My valuation is a lot below this.

Just as a side note, I don't short. I never have, and don't have any ability to do this. And I am not downramping to "buy it cheaper". I don't think a profitable mine will ever be built, and copper has no value if it never leaves the ground.