show me the money ! how big is the dividend ?, page-14

Anyways, that matter aside, let's quickly look at what income CDU should be making.

60% working interest in the prospect, at 200ktpa of product would give CDU a net 120kt pa of copper sales. The quoted margin on current prices is $805 per tonne.

That would give an EBIT of ~$97. Assuming the current company tax of 30%, CDU would make earnings of around $70M. There will be some paybacks to look at for upfront costs, but the agreement seems to look after most of that.

Now, the JORC itself quotes around 1Mt of copper ore.

Doesn't matter if that is 60Mt @ 2%, 30Mt @ 4%, or 250Mt @ 0.42%, the in ground mass of copper is around the 1Mt-1.2Mt mark.

CDU have quoted that the project, 100% in it's own right, will produce 0.2MTpa of copper in it's own right each year.

Therefore the resource at large would last around 5-6 years on this assumption.

Bottom Line: CDU makes ~$70M a year over 6 years at rocklands. Cashflow threshold of around $420M over the entirety of the project. CDU's current market cap is currently $500M.

Conscious of the sensitivity of this topic, I'll leave you to work it out what I would be thinking about this.

I don't hold CDU. I don't have any investing interest in CDU. I just find it an interesting company to follow. CuDeco had a history worthy of it's own book.