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Explorer to Miner life cycle, page-122

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buddy134

24,386 Posts.

176

29/07/14

22:45

Post #: 13734524
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Originally posted by roh ↑

ozblue,
The mining lease took years to be granted by the Queensland Government. The West Australian Government's process was much quicker. The Queensland Government has stated it is adopting the West Australian model as promoted by CuDeco's Logistics Manager to appoint a specific officer to handle all regulatory matters in identified major mining projects. That will go a long way to speed up the mining lease process. It comes too late for CuDeco.
I am not at all concerned whether SFR has fewer shares than CuDeco. Other companies have many more. I quoted PLV which will have 10 billion. Others like GBZ for instance has more than CuDeco and will increase further with its latest raising. Had CuDeco not been able to raise funds at acceptable dollar levels as opposed to cent levels there would cause for concern. I am comfortable with the number of CuDeco shares on issue.
The delay in the granting of the mining lease ironically had a good effect as did the global financial crisis which allowed CuDeco to purchase for a fraction of its cost the equipment now in daily action unearthing the riches of Rocklands. The Global Financial Crisis had another benefit for CuDeco as it freed up drilling rigs previously virtually unobtainable and CuDeco benefited from greatly reduced drilling costs which allowed for the expanded drilling program.
Had CuDeco been able to source drilling rigs at an earlier time definition of the resource would have been sooner . That delay was outside of CuDeco's control. Past history yes but it gives a perspective of the difficulty CuDeco was operating under at the time.
You are of the opinion that CuDeco has done something wrong because it is not as advanced as SFR. I disagree. Rocklands is a different mining environment to SFR..CuDeco spent over 4 million dollars on metallurgical studies. The presence of the native copper, wonderful as it is , needed special equipment and modification to screens needed to be made as what is coming out of the ground is larger than what was expected from the drill core samples. Had the Queensland Government allowed for bulk sampling as CuDeco requested, another delay and cost could have been avoided.
Another point to consider is that Wayne McCrae witnessed how other companies were being gouged by contractors and refused to pay their exorbitant charges. He decided to do things in house.saving shareholders money. Now I was happy to go along with this as I believed it a sensible approach even though it caused a delay.
In regard to your calling for what is in the various growing stockpiles and what the knowledge of such would do to the share price, it is a subject only raised by one of my many correspondents who are long term shareholders .

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Dear oh me!!!!

What next.....The reading of the bible has just recommenced.

Last edited by buddy134: 29/07/14

CDU Price at posting: $1.74 Sentiment: None Disclosure: Held
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