cdu vs aoh comparison, page-15

I would add that AOH's Roseby has:

- 11 satelite desposit none of which have a high grade kicker
- Low grade concentrate product
- Have cornered themselves by giving Xstrata a 51% option over it based on independant valuation. Here's a tip....it'll have to be based off a $2/lb-$2.2lb Cu price leaving modest margin at best based of cash cost circa $1.40. Once again Xstrata like they did with EXS get control without the upside for shareholders
- Not sure the market is giving any credit for other Scandinavian deposit?

But in contrast here we have CDU recently issuing <20% for $130M even before JORC update, EIS, DFS, ML, plant commissioning etc etc. Unlike AOH they will maintain 100% control and can take advantage of higher Cu, Au, Co etc prices. Moreover, we had M&G until recently seeing value even higher buying at $4.70.

In conclusion, you and other non-holders must be asking "what the" by this stage don't they know Wayne's in charge?

Here's another tip: the 20 year offtake is based of the in-house data so your concerns after the first 5 years of production is perhaps something you need to get your head around a bit more......the company themselves are thinking the 240Mt is at least double the grade stated in the JORC.....and I'd suggest so does our new cornerstone investor/offtake partner.