The latest drilling results once again demonstrate how close to the surface the ore bodies begin confirming what has been shown previously that this will be a low cost open pit operation. Wilgar is shaping up the same way.
When those carry over bids from yesterday viz 197,338 @$2.39, 188697 @$2.38 and 128182 shares @ @$2.37 were withdrawn prior to 9am, I thought here we have the pattern over again as good days have been followed by disappointing ones. Such was not the case today with a higher level of activity and higher prices.The latest drilling report helped but was imo only part of a quickening demand. Consider also the lower copper price and criticism in The Sydney Morning Herald. They were not enough to stem the momentum.Makes one wonder how CDU'S share price would be with a positive press and broker support. It will come at some point.
CDU Price at posting:
$2.60 Sentiment: LT Buy Disclosure: Held
