mining lease granted, page-75

Hi Stix,
I had a smile on my face when I wrote that.. So no issue for me. At the end of the day the Agenda of people on the forum does not matter if you do not sell CDU. Or if you sell on your terms. The forum can be good, but real interaction with the company is the best source - as per your sign-off.

There were some real clarifications for me at the AGM. One example is Arthur Hunt. who's resume looked amazing and I was really glad he was on board to project manage the rocklands mine. When I saw in an announcement he had left, it was a bit of a niggle for me - it became an issue that was un-clarified. Did he leave because it was all smoke and mirrors? When this happens then you can have some doubt.

But then today, Wayne makes a comment that they lost a great guy "Arthur", but this was due to circumstances outside Cudeco's control (which was explained) . This then removed this doubt. So each person at the AGM can get a different experience or value from the meeting.

Now moving on -

In clarifying your point GFM - thats my recollection as well, but my notes are $100K and 10 electrical wiring from the Brisbane company. BUTS whats 50K amongst friends in a $2.5M bargain :-).

I did see a lot of HC posters, did not introduce myself, but did see your 2 richards card GFM :-) I did laugh at that :-) I think Barracuda was signing it :-)


I really enjoyed the AGM and the very candid Wayne.

My big takeaways were:

1. Funding not an issue - for instance M& G onsite last week and confirmed support
2. OW buying shares on market
3. Rail and Port a huge advantage - not fully realised by shareholders, but value us realised by BHP for example.
3b) Should be up and running in the next year and costs known - Charlie123 has commented
4. State confirms power commitment to Cloncurry region -
5. Company has an understanding of where Shorts are getting their shares and buyback to try and prevent this type of manipulation. Wayne has taken stance that issue is a a Moral one as well one that has as actual impact on share-price.
6. Roadshows - China soon - leave Tues - Aus early new year - after Christmas holidays.
7. HK Resource investor- multiple times bigger than OW
8. Tenders out for building of plant build.
9. New Exploration Lease - historical workings show some high grade hits, but even if sterile, CDU can use to put tailings and stripe ratio somewhere and this would at least serve this purpose.
10. SW anomaly has also shown some nickel hits on initial investigation.
11. The rail and port paperwork being fast tracked by QLD Gov due to significance of commercial impact to Cloncurry region as a whole.
12. The rail and port will be a good revenue generator, also 5 of the 8 actual slots being filled already. All have signed NDA so no announcement of who they are- but the mining/ farming and rail providers are big
13. Wilgar needs separate plant - gold nugget effect - which GFM has mentioned previously has been has been bought
14. Fairfield and Rainden ore types can use current planned processing plant being bought for Las Minerals.
15. They have modeled a 48 mine life and strip ratio is still less than 4:1 - no details but i interpreted as 3MT/yr - as per ML
16. 0.8% Cut-off is very conservative and gives 30MT @ 1.7%Cueq. Reality will be different and suggestions that a much lower cut-off is more realistic. ie more real copper.
17. CDU have had a couple of sample extended strike holes and they have had hits which suggest an extension of Las Minerals, but since ML for 30MT no need to pursue this drilling.
18. SW anomaly has shown sulphide hits using IP. Track record at Rocklands is that these have been Cu Sulphides, but SW has not been tested yet. So only conjecture at this stage.
19. As for power, 1st few years look like diesel, but investigating Solar, wind and also Gov power. Even if Gov power available, CDU will build backup Generator plant.
20. I only wish I had the money to buy the amount of shares that the person above me registered on the sign-in sheet. :-)

Regards,
Desie101

night night - after a few sherbets on the GC.