With Xstrata and MMG as part of the triumvirate to construct the new Cloncurry Rail Facility, a much bigger undertaking may be a possibility rather than a smaller operation as originally proposed by CDU, in which case,more funds would be required to meet the one third committment of CDU.
CDU has a modest amount of shares on issue for a company in the startup mining stage and can absorb more without severe effect.
We already have M@G and the Chinese companies companies on board. What I would like to see is a new party to lessen further the takeover possibility.
Wayne has a 40% offtake available as an incentive for a smelter operator to be interested or a copper wire/copper pipe joint venture. Wayne has expressed a desire to value add.
The weather so far has been favourable for site preparations and, whilst, a shower is predicted for the MtIsa region today,it should be fine up till and including Sunday .
With more recent finds of native copper being in the previously thought barren area of the Las Minerale open cut, modification to the crushing plant may be to allow a greater throughput of this additional native copper ? ================================I believe there will be some very embarrassed journos and others and very happy shareholders when the first production starts and that's another day closer.
CDU Price at posting:
$4.67 Sentiment: Buy Disclosure: Held
