Reading the latest announcement I noted the following two extracts which suggested there was a stockpile of crushed high grade copper (95%).
"The Company’s mobile crushing plant, which includes a cone crusher, was extremely successful in separating coarse native copper (+40mm in size), from the associated ore, achieving up to 95% copper concentrate grades through simple crushing and screening" and
" around 2.4 million tonnes of ore is stockpiled ready for processing, including 375,000 tonnes of crushed high-grade native copper ore."
Being a long term holder (as painful as it has been) I am trying to find something positive which might suggest I will get something back.
Back of envelope calculation 375,000 tonnes x 95% = 356250 tonnes @ $US 4750 per tonne = US $178 million.
I know there are costs associated with transport, further treatment etc but this would suggest there could be some very early substantial cashflow available
Someone let me know what I'm getting wrong
CDU Price at posting:
$1.11 Sentiment: None Disclosure: Held
