CDU 0.00% 23.5¢ cudeco limited

Ann: Quarterly Activities Report, page-29

  1. 9,111 Posts.
    lightbulb Created with Sketch. 8513
    35%,
    We get one statement about not wanting to double handle ore, then another about crushing the NCu ore before the ore-sorter is set up, which of course would involve at least double handling if not triple handling if it went back to stockpiles to go through the processing plant later.
    Why not wait for the ore-sorter to be commissioned so it is all go then,(at least back to double handling only).
    It appears the new ore-sorter is still in Hamburg Germany being built, infact, from the report.... "A larger unit is currently under construction in Hamburg Germany and is nearing completion. The unit is due at Rocklands in December 2014."
    Here is the statement about the new ore sorter from the July quarterly..."ready for upgrading through the Company’s new ore sorter, currently in its final stages of construction in Hamburg Germany"

    So at the end of July, the new ore-sorter was "in it's final stages of construction" 3 months later it's "nearing completion".

    To me both statements mean pretty much the same thing. Surely the company would have a contract that stated when the thing would be completed and delivered. Why not be upfront and just tell us from the beginning? Do we get a statement in December telling us the final touches are taking place?
    I think you are starting to gain a picture of the lack of transparency in the reporting, which is the real reason why the SP is as low as it is.
    If they had used their mining licence straight away in 2012, organised and sold NCu scalped ore straight away, they would have had income over the last 2 years to pay for everything with far less dilution and probably a SP north of $3.
    Instead we get carrots dangling in front of us with nebulous statements of "soon" and "it will provide yet another early revenue stream to the Company prior to commissioning of the Process Plant"

    The financials when released will be interesting.
 
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