more high grade cu found, page-38

Ed,

The majority of the reasons you gave for the 'lack of love' were not important enough to prevent you from buying CDU as a long term '7 year investment' in April 2011.

Let's look at them:

1. The buyback - was occuring prior to you entering your long term investment. Not a big enough issue to stop you from buying.

2. "The 4 year wait for a lower than expected JORC number would have scared off many punters." - Not you though.

5. "No promised DFS means that punters cant really work out the real value. Why would management keep delaying a great DFS number?" - you bought a long term investment without a DFS having been issued!!!!!! Clearly not a issue for you.

6."Revenue from mining is still most likely 2 years out and there are world economy troubles still to come. Both bring uncertainty." You acknowledged this when you bought in!!!! Again, clearly it was not an issue for you!!


Are you still looking to accumulate in the low $3's as you've previously indicated. If so, are you comfortable declaring a sell sentiment when your own intention is to buy?

M.