why is cdu only $1.66 ?, page-39

h00ts,,
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CuDeco would like to advise shareholders that it has received the Assessment Report Approval for the Environmental Impact Statement (EIS) for the Rocklands Group Copper Project from the Department of Environment and Resource Management (DERM), Queensland. The approval is one of the final requirements for the Granting of the Mining Lease for the Project.

The Assessment Report states that:
“The giving of this EIS assessment report to the proponent completes the EIS process under Chapter 3 of the EP Act.”
The Company looks forward to working with the local (Cairns) management branch of DERM in completing the Environmental Management Plan and the content of Environmental Authority (EA), for CuDeco’s 100% owned Rocklands Group Copper Project.

01/08/2011 Time line h00ts posted showed Q4/2010 = 8 months delay from QLD Govt.

The Company is today pleased and proud to advise our shareholders that the Minister for Mines, the Honourable Stirling Hinchliffe MP, has approved the grant of Mining Leases 90177 and 90188 which encompass the Rocklands Group Copper Project. This is a major milestone for CuDeco Ltd and the Company would like to thank all groups, employees and consultants associated with this achievement.

24/11/2011 Time line h00ts showed Q1/2011 = 8 months delay from QLD Govt, Q1/2011

So 8 months was naked in the cake from the get go courtesy of Qld Govt.

Time line showed commissioning and ramp up completed by end Q2/2013. A planned start of commercial operations in July 2013. Now…add 8 months. Makes it end February 2014.

Today.

So the plan envisioned in Sept 2010, suffers a regulatory delay of 8 months. Each month from now actually shows what the CDU created delay is.

Had they just gone to mining without changes in plant spec, and the concept of NCu sales, maybe CDU would be some months late, as in a few. So pretty sure the changes to plant spec to enable different through puts could be rationalised as a valid disruption on a cost effectiveness basis. What crazy person does not adjust his plan when new information becomes available, especially in a resource development.

From memory I think the plant spec changed added 3-4 months. Someone can correct me.

If you add that all up it seems that for whatever reason (presumably arguments with concrete and other suppliers who wanted more than a pound of flesh) could explain some of CDU’s portion of delay.

For some reason, you are seeing red and have some personal point to make. But the issues on timing I think you are stuck in a time warp that started 8 months ago and you haven’t moved on from that funk.

Take a walk around the garden, and come back and read what they have as of now, as-if you didn’t know the journey and make an informed decision on now.

I recall a famous investor said once he bought shares he forgot what he paid for them and every new day asked himself, “would I buy these today”. Good advice perhaps.

Obviously, you think you have, but its obvious that you keep talking of the loan as if it is a mortgage. It is a revolving facility. Pretty sure Mingsheng would want a mortgage over the entire project for the sum of the loan facility. It would be a try on. You borrow $1m and you endanger the whole thing? So making a sensible link between the value actually borrowed and the extent of assets encumbered isn't something going to be agreed in 5 minutes over a beer at the Cloncurry Yacht Club. (don't worry I am sure there will be one one day).

Rather than looking at what has happened, your post contents have turned into black letter law interpretations, rather than from a commerciality aspect.

Personally, I reckon they will be going gang busters in Q4. Somewhere they will be doing NCu sales. So, at what point do you stop carping and assume the revenue starts will be realise its actually a mining operation.

You will be still posting that timeline wasn't met, the ML lease was late, ROH got his count down wrong, the crushher took too long...all the while NCu is going out the gate?