cudeco(cdu) - trading esp. on 18th august,2010, page-25

Re HK office/Cameron

p4 Quarterly report for period ended 30th Sept 2010.

"The company via its HK office are negotiating a deal with Chinese smelters to purchase the clean pyrite and to smelt and refine the cobalt metal at a low cost for CuDeco in return for supplying the clean pyrite and cobalt concentrate."

Does anyone know, or have an opinion, whether the 220,000 tonnes of clean pyrite at US$300 per tonne includes the Cobalt value? Nice icing on the cake if it doesn't.

Past holder-don't hold now-might hold in future.