major milestone coming, page-176

Hey bommer,

I should explain that comment.

Long term, I think CDU is overvalued. In first 4 years I believe it will be a profitable concern.

Medium to long term on a NPV basis the numbers don't make sense as I believe from around year 6 the operation will be marginal.

The current share price is about 60% higher than I think it should be based on my projections. If his was in 70cent range I'd be calling it a speculative buy.

So it is a 'fail' on current metrics as I think the SP will lower over the medium to long term.

I actually have a decent amount of respect for Wayne given all the circumstances. Not many people have built a mine.

But, investments are based on numbers. And on my numbers it appears overvalued.