Morning Tuskie, and welcome to the CDU thread, you must forgive...

Morning Tuskie, and welcome to the CDU thread, you must forgive the suspiciousness of some of us longtermers on this thread, over the years we have seen a lot of folk come and go with enough expertise to form our own mining company.

Irrespective what might be intimated on this thread there are many posters here who are quite willing to see both sides of the CDU story, we also have a lot of non-holders who do nothing more than want to look after the interests of us holders, which can be fine on one level but a tad annoying when they become a bit fanatical. On the other hand we also have a number of us who may well be over the top in their exuberance for CDU and yes may well even be one sided but that happens with all stocks. There are also many posters who have been seriously impacted financially by both the crazy goings on of both the global market on Australian stocks (GFC1) and factors related specifically to and around CDU and of course as we get ever closer to mining commentary on both sides all seems to go into overdrive at times, again not surprising.

You clearly seem to fall into the Non Holder expert professional who as you say have been “ compelled to post this after reading so much emphasis on theories about this projects potential and timeframes. Will it be mined? no doubt. Will it return the dividends stated by some - time will tell” All good as you know that is what the HC forum is all about.

Can I ask is this the first part of the blogs that you have read from Nev? I would have thought someone with your interest and compulsion would surely have read some of his earlier work, if not it might be an idea to do so to put things into perspective…if you have you will recognise the staggering amount of work put into this on so many levels. I think anyone who has invested in the markets or financial system after the GFC has a reason to be vigilant and yes …even have a bone to pick because things are not quite as they seem in a world that once thought if your money was in a bank you couldn’t lose…right, ask anyone these days.

I don’t have a lot of time but I was interested in your critique re the Jorc (after all you’re the geologist) but interestingly in the Mining Journal I found these comments…

"Clearly one of the problems is that while reporting codes such as JORC are fairly prescriptive as far as they go, they still allow geologists room for interpretation (and thank goodness, say some experts – who warn that an analysis-by-numbers approach is not the answer).

“We have a very strict way of reporting, but it may not be the same as for other consultancies. Too much is still open to interpretation, which may mean that two organisations might report the same deposit differently,” says Allan McCracken, a director of consultancy SRK. And in the same article..

“Ernst & Young’s Tim Williams believes this is now a real risk. He says: “At the moment, it’s actually just as likely that a reserves and resources statement will undervalue a project. There’s far more risk of saying no to a good project right now. Everyone is being ultra conservative. After all you’re not going to get fired for telling people to walk away. The credit crunch has caused this conservatism.

For example, I worked on a high-grade gold project in Tanzania, where in the end the mine produced far more than the original reports indicated. I believe it was down to the geologists being deliberately conservative.

“They were not used to dealing with a high-grade gold deposit, which I guess made them very jumpy about predicting the potential values. So there are major risks in turning down a project, without looking into it in sufficient depth. We’re still in post Bre-X shock.”

Dr Williams also points out that changes in metal prices can introduce confusion in resource reporting, making it even more vital to have competent people on hand to interpret movements.......

...I suppose this does shed some light on the fact that ‘codes are not the complete answer’ so Nev may well have some valuable points to be taken into consideration ( once again I’m no expert ) The other point I find interesting is the concept that you seem to find it surprising that ‘competent ‘ people can get things wrong or can even be ‘incompetent’ well anyone who works in any field whatsoever is aware that failure to be compliant to codes by ‘competent’ will result in breaches of their particular codes…it is healthy in all areas to be on one’s toes and once again keep vigilant that everything is being done according to the codes of one’s profession. You know all this far better than I Tuskie..personally I have found the blogs from a laypersons perspective both informative and disturbing and would recommend anyone who invest in the market to go and have a looksee for themselves and take the time to try and grasp exactly what is being discussed.

With all due respect Tuskie and I know we can differ in opinion here, but I think to label the blog by Nev is doing an injustice to what is presented, but I think others can judge for themselves, I certainly do not want my views to be seen as biased or unsubstantiated.

Always good to have some new blood on the threads Tuskie many thanks for your post.

Cheers to longtermers

Dossa