total revenue for rocklands $us17.8 billion, page-34

"The reserve CDU have produced should be used as a base case in my opinion, as the evidence is overwhelming that the actual grades are higher than the Jorc has indicated."


CDU have not produced a "Reserve"! All of CDU's Mineral resource estimates are in the "Measured" "Indicated" and "Inferred" category. An "Ore Reserve" requires a feasibility study to be released.

As for the "overwhelming evidence" that grades are higher than the JORC has indicated......is a myth.

The "jewellery box" area the site tour was shown is not indicative of the entire deposit. It is a very small percentage of the deposit which the "overwhelming evidence" of data entered into the detailed block model produced by and released by CDU has shown.

If I fill my bath full of jelly beans and sprinkle a few more around my house, do I have a house full of jelly beans????

The company has stated on numerous occasions that they intend to high grade feed the process plant for the first few years. By removing this high grade material from the overall mineral resource the remaining overall average resource grade will decrease dramatically.

So they will then need to increase tonnage throughput of the remaining lower grade material to maintain output which will require a larger processing plant and revised EIS....which the company has also stated.

Costs for early mining an open pit to feed a 3mtpa plant differ greatly to costs of mining deeper and feeding a 10mtpa plant.

Would the company have done a feasibility study to determine the viability of mining Rocklands....of course they would. Nobody throws hundreds of millions of dollars away on a guess.

So my question is why have they not released the feasibility study that shows the eye watering dividends that will be available. Would this not be the rabbit in the hat to sustain a much higher share price and facilitate capital raisings at higher prices. Possibly even nullifying the need for buy backs and the actions of the nasty market manipulating shorters.


Or am I just dreaming about one of my comic books


Good luck all