The recent announcement has finally revealed the truth in a humbling and honest way. Obviously not written by the clueless Chairman but buy someone that thought, “let’s say it as it is, instead of the bs spin.” To be honest though the not good news is very refreshing to say why the project has failed to this date. Finally someone within the organization of CDU has given the reasons of the disasters that have plagued the commissioning of the process plant and what went wrong from August 2016 until now. Finally someone has acknowledged the failures. The process plant is not capable of sustainable production due to its poor construction and materials. Secondly the move away from the original mine plan which can now not be used in deducting what’s been mined and stockpiles and correlating it into JORC compliant. Once you change the mine and grade control plan you have to make other changes to cope with the variation in data. This is the result of inexperienced people being put into senior management positions. Dismally admit the crushing circuit changes and procedures were all wrong calls. Finally admit management of the project has been inexperienced and unprofessional. Ok I get all that and it’s something industry people already knew, but the spins kept coming. I think everyone who read the “announcement of honesty” were shocked even though it was brutally honest it was not expected. Ok now the company has acknowledged it’s been a disaster of management, WHAT ARE YOU GOING TO DO
TO MAKE IT THE COMOANY IT ONCE WAS??? We’ve copped the honesty in the chin. Who is going to lead us to Victory? Heads have to roll and new Captains appointed NOW. If it doesn’t change within a month It will be single digits. $0.01
CDU Price at posting:
29.0¢ Sentiment: None Disclosure: Not Held
