Waltz See the latest report and the companies 3 model ask yourself this question, if the company could release the full details of the internal 3D model including the quantity calculation attached to that model what would the share price be.
There are two results, one is the JORC (JOKE) and the other is the internal one the company has. That photo shows two cross sections and if you look closely there are rectangles, each rectangle is a block and there is a calculation somewhere in which each block is given an assay estimation and then all those blocks are added up to give a final result.
The ASX does not allow the company to tell us what those answers are. The major shareholders I am sure have been shown the results but we are excluded from them. Funny about that, and that is the background to the schennegans that has been going on since August 18. 2010 and the people trying to control the share price. Go to the trouble to read nev's CDU trading report.
I for one would like to know the numbers attached to the companies internal report. I am sure M & G have seen it as well as the other main shareholders.
BHPBIO, RIO, Xstrata and others have possibly employees on the JORC committee and are waiting in the sidelines to pick up companies early in development the likes of CDU, for a very low price, funny how the JORC code gave, CDU a shit report.
Nev's report gives a list of people on the JORC committee and the companies they work for. My belief is this is possibly corruption at the highest level.
Allowing the major companies to have people on that committee when they make their major money by buying up small mining exploration companies when they're in they're early days is unforgivable.
Find every excuse to give a so called conservative (low ball) result and then take the company over knowing full well how the JORC report treats the result.
All the major companies would have modelled the CDU deposit in the same way that WM has modelled it. They would have done two models, one that would give an honest appraisal of the deposit and one that would give the JORC likely result. A high level blind freddie would know that.
That is why the short selling started about a week before August 18. 2010 and turned into an avalanche after that date. For those in the know, it was a known known.
It has now taken two years and one month to recover from that and WM is still only allowed to release information based on the JORC. The internal information is not allowed to be released. He has to go cap in hand to a consultant who's hands are tied to a system devised by employees of the very companies that would like to do a TO of the company.
Anyway slowly the truth is coming out and WM will let results show what is in the ground. This is not the way it should happen.
CDU Price at posting:
$4.88 Sentiment: Buy Disclosure: Held
