Projected commissioning of crushing plant--41 days
Zdsters,
I thought it would have been a response from BUDDY134 first but as you are first cab of the rank, I reply as follows::-
When you predict that tha share price will drop to two dollars from your previous prediction of two dollars 49 cents,is that not giving the impression that shareholders think about selling ?.
That statement of yours may well influence some uninformed people . I hope Buddy134 is not influenced in that way.
In answer to your last statement regarding how long the bonanza grade from the jewellery box will last, CDU said the higher grades would be mined in the first 3-4 years just a little longer than 3 to 4 weeks.
This time span may lessen as approval has been sought through a new EIS for an expanded throughput from three million tonnes to a mooted four and a half million tonnes per annum.
There is plenty of time to exploit the high grade ore from Fairfield as supplementary feed stock or any new discoveries which might follow from the exploratory drilling program.
The latest report highlights the prospectivity of the new lease . You will note I use the term prospectivity so as not to give the impression that it will throw up another Las Minerale jewellery box.
In saying that, the report on the new lease shows how modern technology ,rock sampling and a shalow based drilling program can point to where deeper ore bodies may exist.These are the methods CDU has used so successfully to date in making its major finds.
The 2012 Annual Report states in part that the focus for exploration 2012 and beyond is "Finding the next "Las Minerale "
Establishing the new lease as a priority target is an interesting development.
From the description of the new lease , there appear to be no impediments to getting drilling rigs in place as there was with the difficult terrain at Wilgar. There is talk of a plain with no mention of hills.
We are in a favourable position to most in that we have enough ore found to date to sustain a long mine life and so many targets yet to be investigated.
There will be some extremely disappointed former holders of the new lease area if CDU comes up with a major find or finds.
Only time and a lot of hard work will establish what we have on the new lease. Loking forward to the first results.
---------------------------------------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.
CDU Price at posting:
$4.42 Sentiment: Buy Disclosure: Held
