do they know?, page-6

James you are quoting 2 entirely different arguments- The senate inquiry presumably is to address why the stockmarket has become a legal illegal casino Shorting , dark pools ,algorithmic trading , center point orders , iceberg orders , stock loaning etc the list goes on and on - On that basis a lot of what Nev has done does indeed go along to prove the system is broken and the stockmarket no longer serves the purpose it was created for and that was to share the risks and rewards for companies that could not raise funds privately or through normal financial channels like banks.

Now suggesting the JORC code and committee is some sort of conspiracy set up to defraud CDU investors is laughable. As gardno , W.w ,Fengshoey and others have said the code was brought in to protect investors .

Cudeco themselves chose the contractors to prepare the resource statement based on their own in house data - in fact CDU used several contractors over the years and none were able to come up with 30mt at 3% measured resource that was widely touted on these as being a given.

No question that CDU has a very rich zone of valuable copper among its global resource of 272mt which includes all the marginal low grade chaff. The question is how many tons do they have - The MPS report that presumably was commissioned by the company used all the best case parameters including the 4% bulk test results - they said CDU had 5mt of NCU and it would be 30% of ore feed for the first 5 years.

None of us will know if that number is accurate , to high or to low until CDU has in fact put through 15mt of ore in the first 5 years. Obviously they will need to do it in the first year to be any chance of repeating those numbers in years 2 to 5


hOOt