magnetite, page-36

Now only 110 days to commissioning of the crushing plant.

Buddy134,

Let us hope the iron ore and coal prices recover as they have a huge bearing not only on the companies and their shareholders but on Federal Government coffers.

The Chinese have been experienced traders for thousands of years and making money motivates their philosophy. They did not come down in the last shower and their view is long term/ self interest.

Wayne did well when Oceanwide opted out of their additional share allocation to attract another Chinese Company and secure the funds. I can think of some other companies where the Chinese have changed the goal posts to their advantage..

In a closed society such as Chinas,it is hard to get a true picture as to Chinese stockpiles. Analysts must have a devil of a time trying to interpret figures released by the Chinese Government. One thing you can bet on is that the Chinese will be out to get the price down if they can and will hang out as long as possible.

Buddy, you asked for my opinion, and yes buying will continue . When it will resume to former levels and at what price,that I do not have an opinion on.

As for the price of copper,there were a number of analyists predicting ,at one point, copper reaching $11,000 dollars a tonne. They got it wrong .

As I mentioned to switchmullet or was it sohoisnotforsale,the exuberance of posters suggesting high prices for CDU shares I did not embrace. I have always adopted the pragmatic approach, like your wait and see , as there are many factors which can effect the price of a share now and into the future and these are outside of our influence. Share prices are not static.

The current share price, as we move to mining , is pretty good for me as a fair proportion of my shares are at a 22 cent entry point [ average 50.7 cents ] but what I invested in CDU for is the dividends and as I stated on a number of occasions a 10 cent dividend would give me a return of nearly 20% on my money. It would be even better for another family member whose entry point is 33 cents. She reaffirmed to me yesterday she is not selling.

When I was speaking to my brother today and mentioned Fortesque [ which he holds ],he agreed with me that, when bad news affects a share, it takes quite a time for sentiment to turn around. CDU is a case in point following the release of the first JORC.

You state "That is if we are still trading under the same structure and ownership though". I am unsure what you mean by structure but can offer my thoughts on the ownership question.

Should a takeover offer occur now [ and I have not ruled one out] it would have to be at a higher price than it was a month ago. If one were to come, it would have to come sooner rather than later ie before mining commences and it would have to be attractive enough to induce shareholders to sell.

Our strategy is to hold for the dividends so a takeover offer is not one we would welcome. In my opinion, there is less likelihood NOW of a takeover succeeding. CDU was most vulnerable just before M@G came on board [ post first JORC] and saved our bacon.
=================================I believe there will be some very embarrassed journos and others and very happy shareholders when the first production starts and that's another day closer.