My post covers carting of spoil from the south west corner anomaly at some future time and not the spoil from Las Minerale and Rocklands South open cuts which is as you state covered by the initial EIS.
That tenement to the west of QMN'S Morris Creek may be the dumping ground ,if sterile, for spoil from the South West corner anomaly. If not, then , as I have stated previously, Wayne has aquired this for its mineral potential , then QMN'S Morris Creek positioned in between becomes of interest.
You state"?t a time when the organisation needs to be putting all of its focus into getting the mining of las minerale underway, it cant be distracted by sideshows- no matter how good ".
At the same time as CDU prepares to go mining, drilling procedes at Wilgar, Solsbury Hill, Fairfield and Wayne has stated that there are 20 more targets to examine including that South West corner anomaly and that there is more than 5 years drilling ahead.
Wayne obviously does not think proceeding to prove up Wilgar et cetera is a side show. Wilgar, if proven up , will add to the potential value of the company.
Mining of Rocklands will procede in a controlled manner with initial mining of Rocklands South and Las Minerale open cuts for which EIS has been lodged.
There is sufficient water for an upgrade of plant to a throughput of 10 million tonnes per annum but this would only occur if economical and demand was there.
Wilgar and other areas may not be mined for many years but progressively developed as the Board sees fit. Wilgar, in particular, because of the 11 minerals in a polymetallic mix, may require a more complex metallurgical process .
Further EIS submissions would be required and approvals obtained as original mining procedes. Forward planning in finding new ore bodies and getting approvals in advance of mining ensures a smoothe transition before the open pits run out.
Another possibility, if CDU had enough on its plate, would be to go down the joint venture path to maximise activity into a shorter time frame than the 40 years.
China Oceanwide comes to mind.
Bringing Oceanwide on board,owning its own drilling rigs and mining equipment, its modern office and accommodation in Cloncurry,its Port of Townsville lease{15 million to be spent], railway siding, 48 block subdivision, bitumen road to mine site underway,$4.4 million spent on metallurgical test work and offtake agreements speaks well to me of the capacity of the Board CDU . Oh and I forgot - a low number of issued shares.
Whichever way it is handled, I have every confidence that the Board will be economical and procede with caution to ensure the continuing prosperity of Rocklands.
There will be no black holes only very large ones making CDU plenty.
CDU Price at posting:
$3.22 Sentiment: LT Buy Disclosure: Held
