betting time, page-26

Hi Mojo,

I was coresponding with an ex HC long-term holder of CDU who expressed his opinion that so far as the placement is concerned, he would be surprised if it is under $4.50 and is expecting anywhere from 10 million shares up to 30 million shares.

The 30 million shares equates to the 15% CuDeco Management can issue without having to request shareholder approval.

Whatever the deal it should carry CuDeco through to mining debt free, and a strong register which is the only way to go in the current environment.

An extra 30 million shares shouldn't reprezsent too much dilution.

If it is along the above lines CuDeco Management will be exceedingly well placed with a copper mine up and running.

In addition, with underground and regional orebodies to add, some sort of gold/rare earths project at Wilgar, and the new lease to explore, lots of excitement ahead for CDU shareholders driven by dividends and exploration.

He is hoping to go to the AGM to renew acquaintances.


cheers,

Max