Hi Karlene Your comment is not off topic because of Uraium. Anyone would like Anna as a person. Your selling out was a right move, a profit is a profit.
The problem with CDU is without a doubt the subtlety of management. You cannot manage with comments picked up with know it alls from the pub. Unfortunately a variation on a theme is what is happening.
A game of chess is being played out and the winning strategy is to protect one man not the company, or the shareholders.
It is obvious to me the resource is huge and that opinion is backed by some people I trust. That is not to say I and they could be wrong.
What I find terrifying is WM has not drilled into those coloured patches on those lovely photos he shows on the CDU web site.
If he drills into them and finds a really serious IOCGU deposit then the people who are capping the share price will move in with a TO at starting possibly 1.5 times the share price of the day and he will be history. Game set and match.
There is always the fear that those coloured photos are not real and he does not drill into them because there is nothing there.
If you were a military intelligence officer viewing this situation you would have experts doing a study of WM's personality and you would be taking a wry close view of his education and past experiences.
He sold out Centuary Zinc for a song. A little bit more work and he would have not had done that. This is frightening stuff. In the situation we are in that little bit of extra work is required and for reasons unknown so far no drilling into the unknown. What is the reason for that, are we in a situation of pub logic?
Now for parrothead. Yes there is the possibility that in the bedrock below Wilgar there is a uranium deposit.
The reason I hold, is I trust the knowledge of a few people who have seen the hidden room up there and who assure me the goodies are there. I am told even though the chief Geologist is young he is really good and knows his stuff.
The JORC fiasco was without a doubt one of the major management stuffs ups in a long time. Understand with absolute clarity if WM had pegged out just part of the deposit a long time ago and did a JORC on that, then what happened would have happened in a small way a long way back and the path to rectification would have happened then. Was it four years drilling to have a bucket of poo poured over the companies head with huge loss to shareholders.
The imperial inch is 25.4 mm and the company has the hide to offer up the imperial inch as an excuse for what happened. You either aim for success or failure and if the tool you use cant do the job you use the right tool. They are still using RC drilling.
Back to karlene, it will only take a couple of drill holes into the unknown to completely change the situation. Even an upgraded JORC will change it. WM is hoping the bulk sampling will put a lot of minds to rest. It will have a good effect but the boardrooms of the world only respond to a JORC. Sad but true.
CDU Price at posting:
$3.39 Sentiment: Buy Disclosure: Held
