Hi Freehold,
Many major differences between the two companies. QMN need to start ticking some of the boxes below ;
CuDeco is building a world-class copper mine…
Only 188.4m shares on issue
$130m cash at hand (18-6-12) - No Debt
Owns own mining fleet 100% -mostly purchased during GFC
(including 20 dump trucks and 7 excavators)
Mining Leases granted
$30m already paid towards 3mtpa plant
(balance of $20m remaining)
Secured Rail-load Facility in Cloncurry
(currently under development - access to national markets secured)
Secured Ship-loading Facility at Port of Townsville
(currently under development - access to international markets secured)
Significant resource inventory based on over 340,000m of drilling - discovery costs ~ 1.5c/lb
30.3mt @ 1.7% CuEq (0.8% cut-off) Measured and Indicated
97.9mt @ 0.96% CuEq (0.4% cut-off) Measured and Indicated
272.9mt @ 0.62% CuEq (0.2% cut-off) Measured, Indicated & Inferred
Mineralisation commences from surface
High-grade supergene zone (native copper and chalcocite) - accessed in initial years
Off-take agreement in place based on 100% of LME copper prices less 4% commission
Admitted to ASX 200 (ASX:CDU)
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