Janti,No thumbs down from me ..but your title "Crusher Not...

Janti,

No thumbs down from me ..but your title "Crusher Not working properly" is misleading since you have no evidence of that being the case today.

The report states and I have broken it down into parts:

" • CuDeco on 7 February 2014, instituted proceedings for breach of contract regarding the supply and installation
of a primary, secondary and tertiary crushing and screening plant.

The Claim includes an allowance of:

approximately $10.9 Million for rectification and damages

in addition to an allowance for interest accruing
from the delay caused."

Note:

1. the date of institution of proceedings
2. The breach must have been noted earlier
3. The claim is for a primary $10.9Mill for rectification
4. INCORPORATING DAMAGES
5. In addition to allowance for interest accrued from the
delay

This could explain all the fuss about delay in the CRUSHER delay posts last year. I seem to remember the "Where is the crusher" style of posts.

You must remember there are many confidentiality agreements that public and private companies enter into with counterparties.

The ASX and Governing bodies respect these agreements...so you may not get full access to all company agreements you may think you should access to...it all depends on the documents signed.

The stuff up may have occurred last year and CDU wants recompense ..it does not mean the unit is not working or functional to spec now ..unless you have better info.

You should read the cost and time blowout in the EGO forum on a plant that blew out in costs and time so dramatically that it was a factor in a board overthrow...different circumstances applied.

I also note that CDU are in talks with alternative smelters to process the product.

It could mean that CDU are not completely happy with the conditions precedent in the loan agreement and maybe want to maintain integrity in the company for the shareholders benefit.

Why is there ,or was a recent share buy back?

There is also mention that if the Chinese loan is not taken up then the options with alternate smelters may take effect to meet current conditions or words to that effect.

Read the fine print guys .. there seem to be inferred escape clauses from what I can see, to maintain integrity of holdings.

But that's how I see it tonight.

Leave it to others to argue the toss.

CDU team seem to be a bunch of very savvy operators.

Cheers

HR

enough tonight ..no advice...just my take ..it is interesting from an outsiders viewpoint.