more high grade cu found, page-29

Aka,

Yes CDU is unloved as you say.

Its worth thinking about why that is the case.

1. $30m spent on the Buyback is an issue. Many would feel that the CDU price is being artificially supported and there is no point buying at inflated prices. If prices were to fall then prices that are artificially higher will fall further.

2. The 4 year wait for a lower than expected JORC number would have scared off many punters. The hype ahead of that 2010 JORC wasnt met by the actual result. The subsequent price plunge was not nice.

3.The 2011 JORC didnt add to the copper content but was touted as a large upgrade. Some would have been wary of that.

4. Lengthy periods of suspension are always a worry for punters.

5. No promised DFS means that punters cant really work out the real value. Why would management keep delaying a great DFS number?

6.Revenue from mining is still most likely 2 years out and there are world economy troubles still to come. Both bring uncertainty.

No doubt some punters have additional concerns.