how does wayne do it?, page-98

I think arguing about the necessity of completing a DFS, BFS, or as I like to call them, FS, is a bit odd.

No company will ever progress to mining without completing detailed engineering studies, mine planning studies, metallurgical studies, resources estimates, cash flow modeling etc etc.
It is inconceivable.
If you think that CDU are not doing, or have already done these studies then you are either kidding yourself, or you are tacitly admitting that the company is being grossly irresponsible with its investor's money.
If it has done these studies, then it is duty bound to disclose their results to to market as information material to the share price.

I don't know what is going on with CDU, but something is definitely not right, and never really has been. I would like to invest in this company, as I have spent considerable time looking at the deposit, and think that as a copper resource, it is remarkable and has enormous potential to make a lot of money very quickly. However, I think management are setting about systematically destroying the value in the copper operation by messing around with cobalt and iron, and they continue to destroy their credibility with half-baked resource estimates based on dodgy copper equivalent calculations.

Additionally, I am very wary of where regular shareholders are going to be left when production does start, given that the majority of product sales will be to a major shareholder, putting strong disincentives on maximising profits through sales - there will be a very significant shareholding/board faction that has little incentive to ever pay a dividend when they can effectively reap their own private dividend from discounted product purchases.

I would not touch this stock while the OW off-take agreement is in place, and I certainly would not be happy seeing my money going towards building white elephants like magnetite or cobalt plants.