announcement fatigue or something else ?

A few comments/assertions by some posters lately have caught my attention....
1. "the MARKET" doesn't respond to announcements regarding drilling results.
2. All these announcements look the same and they seem to be too frequent, therefore, the company MUST be about to raise money or is trying to prop the sp artificially.

Company announcements rate low on topics of conversation here on CDU, far too much playing the man not the ball imo

A few observations in no particular order....

Clearly someone is paying attention as there are large sums of money being sloshed around in CDU on a daily basis, recent volume is well in excess of the usual levels of activity.
Seems clear to me that "the market" had trouble determining an appropriate upside value for CDU when it was trading with a MC of $600m-800m and no DFS etc to go on. Volumes were much lower.
M and G leave the building in a hurry and suddenly it is pretty clear that even without a DFS etc CDU is now in Value territory at $1.50 - ??.
Bad for shareholders (in the short term) and companies with a need for capital but good business for the big end of town that has the weight of money and sophisticated technology.

NB. I am not trying to insinuate any conspiracy or collusion (I will leave that to others) but we all know the market is a casino and some have a trading advantage not available to all. It is what it is until laws are changed.


Regarding sp lack of response to announcements deemed price sensitive.
Firstly, there is a well known saying "buy the rumour, sell the fact" it wasn't coined in reference to CDU and it wasn't coined yesterday. CDU is not special or getting special treatment imho.
Secondly, I think the great majority of "mums and dads/retailer investors" have little or limited understanding of what they are reading or what its potential impact on Co fundamentals might be
I'm not claiming to be an expert but recent comments by some are clear evidence of this lack of comprehension and I have no doubt that others enjoy creating FUD as James so eloquently puts it.
Don't ever forget that this is an anonymous chat forum and it never ceases to amaze me what some will say under the cloak of anonymity. Agenda's abound on both sides of the ledger and others have none.

Today's announcement is as good an example as ever imo...
DRILL SPACINGS
Some are quick to discount the value of todays drill results based purely on the spacings. IMO this ignores several key points
1. This is not early stage exploration drilling it is resource definition and extension drilling. Infact the announcement clearly states that the drilling is designed to allow the mineralisation intersected to be included in the upcoming resource upgrade at a high level of confidence. To me that would be "measured" or higher (reserve).
2. CDU is no longer just an explorer, they are mining and this is in or below current pit design drilling. To my way of thinking this type of drilling serves 2 functions- resource building and grade control.
3. The extension to the orebody currently being defined has potential to alter optimum pit design (read project economics) and in light of that fact it seems to me entirely appropriate to be making big calls with a high degree of geological confidence.

ASSAYS / GRADE
1. IMO these are clearly economic grades, especially regarding the zone currently being explored.
2. Assays released are reported in CuEq and this can be very confusing. Headline figure is 50m @ 1.77% Cu (not CuEq) and pg 3 proves to be revealing in that the intercept is actually 50m @ 1.9%CuEq BUT that doesn't include gold assays (which form part of the CuEq equation) AND although silver values are reported it is NOT an element that forms part of the CuEq calculation. The silver values look high grade and appear to be associated with the high grade zones of mineralisation. This raises the question about whether or not they are able to recover silver ? Pg 3 also states that the high grade zones are AVERAGING 4.1% Cu (not CuEq)
3. Mineralisation remains open at depth AND along strike to the west.
4. "The target zone corresponds with a 1.2km SAM conductivity target to the west, which appears to be highlighting a major mineralised structure". These guys have been drilling this area and done a bang up job of finding a copper mine, i'm prepared to punt that they know what they are looking at.

Any way I now have posting fatigue
Just some observations and grist for the mill.
CDU is regularly one of the most discussed stocks but IMO a large amount of discussion is just noisy entertainment