Richard
Yes you are correct. Cudeco haven't technically proved any of the deposit is viable to extract but so far they have viably extracted 700 000 tonne and eventually 30 million tonne all without proving it is viable. They have just about built a plant without a BFS, are mining without reserves, consistently
raised capital above the share price and the earth really isn't flat. Guess sometimes to prove you can do something is to just go ahead and do it. Unconventional for sure but at this stage I dont think spending a few million on a study to see if the next 3 or 6 million tonne is viable to dig up will make any impact on the share price.
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cdu's mined copper reserves, page-8
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