how does wayne do it?, page-86

Hotrock, with regard to the DFS delaying production, you're wrong in the case of CDU. It was being prepared and was almost finalised, just awaiting approval of the EIS from the Qld Govt. So no delays to production there.

"IMO ..The only people that need a BFS are the partners or suitors that want to get in but do not have the readies at the ready.!!! You either have the dosh to pump into a project or you don't... They typically need a BFS to activate 2nd or 3rd party funds to lock in a position and stall a project."

Agree. And unless CDU get the DSO moving, they don't have the funds. Nor is there any sign of the coarse NCu shipments from the crushing plant, which isn't even commissioned six months after it was started up. Unless Minsheng finally agree terms with CDU, if indeed Minsheng are able to lend $100m at the moment.

The BFS may be a meaningless document in many respects, but unless you are so cashed up that you can sprint to production without having to raise cash through conventional channels, you need it. Not that WM is interested in fast tracking production anyway, he seems far too concerned to save a few bucks here and there on concrete even though it means delaying the completion - which means more funds required for admin costs and delayed dividends. Penny wise pound foolish, IMO.

MAGENTITE - is that the purply ore in the photos? I think you mean cuprite :-)

OK, the magnetite. That secretive stuff, which the company decided NOT to disclose full details of when they published the JORC, even though on page one they stated that full details of the DTR results would be found in the resource notes. So who knows? To me, it just seemed a bit too convenient that the resource should pop up when a boost to the JORC had been promised - and 55% of that 9.4% boost comes from a previously disregarded, but known about, ore that requires a new plant to process it.

sb, no offence taken!