Hi Bill, I appreciate that the figures quoted are not current as...

Hi Bill,

I appreciate that the figures quoted are not current as the Rockland's drilling continues and shows high grades of ore in quantities.

However, you could go back to the original assessment. On the 29th June, 2006, WM reported an interim Mineral Resource for Las Minerale, an Inferred Mineral Resource of 59mt @ 2.04% Cueq to the ASX. This figure was based on information compiled by Mr. Chris Dredge,who was a Member of the Australian Institute of Mining and Metallurgy.Mr. Dredge qualified as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mining Resources and Ore Reserves".

The main points Mr. Dredge made were:
* The ore body appeared to be gaining in width and depth.
* 106 holes had been drilled to date.
* Above ground indicators combined with a magnetometer survey and exploration indicated a strike length of 3 km with the liklihood of multiple shear zones.
* Previous reports by CRA on Double Oxide identified a wide shear zone containing a number of sub parallel zones of mineralization having a strike length of 6 kms.
* Exploration by AUM(now CuDeco) had extended the shear zone to 1.4 kms with future increases possible.
* Magnetometer surveys pointed to mineralization either side of Las Minerale.
* Drilling along strike to NW had intersected high grade near surface zones of supergene cpper mineralization above the sulphide zone.
* Mineralization contained significant Cobalt and Gold credits.

An "Inferred Mineral Resource" is that part of a Mineral Resource for which tonnage grade and material content can be estimated with a low level of confidence. It is inferred from geological evidence and assumed but not verified geological and/or grade continuity.
It is based on information gathered through appropriate techniques from locations such as outcrops, trenches pits workings and drill holes which may be limited or of uncertain quality and reliability,

Therefore, CuDeco was forced on the 5th July, 2006, to revise the resource estimate by the ASX because it didn't comply with the ASX JORC code compulsory reporting guidelines. An amended resource statement for Las Minerale was released on the 17th July, 2006, after an extended extension.

As I see it the important thing now is that something like $350m has been spent by CuDeco building a 30-40 year copper mine at Rocklands. Even back in 2006 a most ardent non-holder of CDU said that Rocklands would take ten years to get to production.

So, in reality, I go back to the recent March, 2015, Quarterly Report for CuDeco, which importantly said that CuDeco is developing one of the most significant copper discoveries in Australia in recent decades. The Rocklands global deposit is dominated by primary copper mineralization, however, the first ten years of production will treat large zones of supergene enriched ore including expansive zones of coarse native copper.

Therefore, this is CuDeco's first priority in order to generate early cash-flow based on a Stage 1, initial 10 year mining operation, at a process rate of 3mtpa and if possible, early cash-flow from preliminary crushing, scalping and ore-sorting activities.


cheers,

Max