As stated before, no one has ever suggested that there is no copper, only that the the figures are likely to be closer to JORC. Despite many years of WM saying JORC is wrong, the company to date have not produced evidence that the JORC is wrong.
The share price is going nowhere as the company has not delivered.
You may very we'll find that your transport company has no trucks, not sure if we will ever find out. There are so many holes in your analysis of the shares for payment, I already outlined to ROH.
Your statement, over all these years SFR could not deliver a 1 cent dividend is absurd.
You know the story, discovered 2009, first DSO sales and concentrate sold in 2012.
Sandfire were able to secure a $380 mill loan from ANZ. That is more impressive than taking 8 months or more on a $65 mill loan from China.
That loan is now down to $160 million, in the last 6 months alone, SFR have paid back $70 mill so are generating great cash.
For the six months to Dec 2013 SFR, generated earnings per share of 21.5 cents after interest and after tax. Full year 2012/13 they had EPS of 57c. There will be good dividends coming once the get rid of debt.
That is why SFR have a market cap of $974 mill and CDU $394 mill. Nothing to do with shorters/ down rampers, it is because CDU have not delivered.
CDU Price at posting:
$1.68 Sentiment: None Disclosure: Held
