gjcl I remember reading about storage capacity for CDU's port...

gjcl

I remember reading about storage capacity for CDU's port facility a few years ago.
The figures were given as a wet weight.
It started with 50,000t of NC and the dry weight worked out to 70,000t.
Approx. 120,000 t.
They won't want to release inaccurate figures to the market (we all know what happened with the initial jorc by WM of 52mt @ 2%) but they may have some figures from the existing stockpiles that they can roughly work out their annual materials going through the port.
The beauty of all this is that if shareholders ,WM the Chinese already in and the Chinese smelters (yes they used the plural in their announcements.Why would you look to supply more than 1 if you had nothing to sell)
there will not be any free float for the smart ones that think they will get in at these prices if they decide to.
I'm really hoping Hoots is correct and the 9.5 million shares have to be covered (sadly I think that is still whoever m&g were working for trying to stall CDU's development). If not at least they will have to use them to cover their shorts.
ATM they are having trouble pushing it and keeping it under $1.80 (the main individual shorter virtually said he has given up unless by telling us he is selling he thinks we will all follow suit) so shareholders can possibly top up with little downside.
Traders and large companies however cannot.
It goes against a traders whole concept of how great they are by not trading till the company meets their criteria.Then they will do the company a favour by doing a quick trade.
Well I think everybody knows those criteria and I'm hoping soon they will be met.
I don't think you will get the chance for a trade at $1.80 unless the brokers are will to throw their last shares away.
I bought a few more last week to have a bit of fun with.
It won't be at $1.80 either.
The way I look at it is if the traders will pay and think they can sell quickly for a profit why don't I get that profit myself.
Thanks to hottuna for giving me the 7% figure that traders sell out when a stock drops that amount.
After each announcement that pushes the sp up I will wait till it drops back 7% from its highs before I sell.
Only a small number to play at trading because I'm there for dividends with the rest.