sfr comparison, page-12

A lot of angst and conjecture about CDU / SFR comparisons over the years - The main differnce is the time line that SFR have been able to achieve from discovery to plant commissioning.

I have no doubt that if CDU had been in W/A they would have been mining year's ago - The EIS red tape, M/L bureaucracy in QLD made sure that CDU got left in Sandfires wake.

Having said that if CDU was in W/A I doubt they could have got rocklands mining for circa $250m ( Zedster prefers to use the $310m number in the M & G prospectus )

Quoting CDU cash in bank position seems irrelevant to me as no doubt the money is going to get spent by the time the concentrator plant is commissioned at the end of next year.

Hopefully CDU will get a the same J curve in the s/p leading up to mining as SFR experienced but personally I dont think it will get to full true value until the first quarter production numbers are known.

We all agree the JORC understates the resource at rocklands but as we can see from the old SFR / CDU comparison the CDU JORC could not justify a similar market cap to SFR which is now $1.4b.

Holders should be pretty happy with a 50% increase in CDU market cap over the last couple of months. Hopefully she can break through that post JORC $4.72 high today !