CDU 0.00% 23.5¢ cudeco limited

Ann: Pictorial 17 - Rocklands Copper Project Upda, page-7

  1. 573 Posts.
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    re: Ann: Pictorial 17 - Rocklands Copper Proj... Undedev, I understand that the native copper and DSO was supposed to be loaded directly into shipping containers on-site to be trucked to port for sale.
    As for Glencore involvement, the whole point of DSO is that it can be fed directly into a smelter without having to be run through a concentrator first (same deal by-and-large for the native copper). The smelter in Isa would be the most logical customer for any DSO and NCu sales, however the off-take agreements in place with Oceanwide may have extinguished that opportunity, or at least rendered the amount of ore available for sale to be too small for Glencore to be bothered with.

    It is astounding that sales have not yet been made, and all of this high-grade material is being stockpiled. Deferring positive cashflow is not the best way of maximising your NPV.

    That said, the pictures of the plant construction progress are very encouraging.
 
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