Exactly. That's all it is. But even with the fairy godmother, there's only $15m of cash from the jewellery box. So where is all the DSO going to come from? The company has said that they won't start sales until they can supply on a consistent basis. I'm not sure that a couple of containers a week is what people had in mind.
And let's face it, those blocks aren't going to be 24% Cu. We can see from the photos that there is DSO grade material, but how time consuming is it going to be to pick it out from the lower grade or gangue? and how much Co, Au and mag are you throwing away when you ship it? From what is apparently one of the most sophisticated block models ever made, I just can't see what folk are hoping for - cash flow to finish the project, if the hoped for Minsheng loan is used for rail and port facilities.
sb1, too much work for too vague a result. We don't know where they are digging the first two years' supply from, or how they are planning to mix for grade. They mentioned a while back they would aim initially at 2.5% to 3% Cu feed grade, but where that comes from we don't know. And those blocks are only Cu, not Cu Eq, so they couldn't give a view of what the company would be getting out in total anyway. As a holder, perhaps you could ask the company for the spreadsheet? After all, the information for those 25 slides is in the public domain, we're just too lazy to transcribe it all!
CDU Price at posting:
$1.83 Sentiment: Sell Disclosure: Not Held