oh look trades down & non-holder posts down, page-4

Regarding self flagellation on the Hotcopper CDU web site. I actually don't like the idea because it hurts. Now there are two main type of posters on here, one with a negative number of shares who wants then to become a zero number of shares at a profit, otherwise called shorting. When I was a kid my mother would not let me sell something I did not own she said this is dishonest. I still think it, is but somehow, someone has made stealing OK. Thats why a certain group of people are still arguing which commandment relates to stealing. Google the ten commandments by different faiths, Interesting thoughts. So these people rubbish CDU, its founder and its resources. Not a good idea if you hold shares.

Then there is the second group who own shares and don't think the leader has done the right thing. In some ways they are right, because the giving of copper equivalents has confused the equation. There is really good nugget copper, (incidentally worth 10% more than the sulphide concentrate) mixed in with mainly sulphide copper ore. To be realistic the grades of nugget copper and sulphide need to be separated in the spreadsheet because I think the native copper is extracted mainly by gravity process and the sulphides go through the process plant. Correct me if I am wrong. The reason we need to know the grades of the sulphides is because to process around the 0.6% ore you may need a 10 MTY plant to get a payable result.

Rubbishing the leader is not a good idea, firstly because it has a downward effect on share prices. It's a bit like piddling in your soup. Once when I was a believer I knew a Catholic priest who's famous quotation was "rather than critise in the darkness light a candle. Most of us have shortcomings and our leader also has them. I believe what he needs is a carefully chosen offsider who has all the characteristics he lacks. That is all that is needed.

The drill core results we all based our investment decisions are still there. It's obvious the picture is not as rosy as I thought. With all due regard to the JORC it's a mineable deposit, with a first five years that should put the share price back to a reasonable level. The JORC is supposed to be a defining situation but the native copper makes one wonder if it actually defines what we have. Its kind of important that we know what is in the ground and for me I don't have faith in what the JORC depicted. Having said that I take very serious note of what the JORC said in regard to the sulphide grades.

This deposit will grow as they define what is there in the linear extents of the deposits. The sixty-four dollar question is wether they will find an ICOG system and what is at depth that fed the systems. Those nuggets of copper came from the centre of the earth so how far down do they go. You can say the same of Wilgar, that stuff came from somewhere.

I got to thinking about the person who posted on here about different ICOG systems saying that the stuff in the middle was barren. I looked at the graphics and wondered wether in a huge molten state like a big cake mix being stirred the heavy materials moved to the outside. Interesting thoughts because those deep drills are expensive and it takes time to locate where they go. I believe WM gives his chief geologist full decision making rights. They are drilling to a carefully worked out order.

Anyway I think its time to give our leader a little bit of slack and let him get on with the job. Think in terms of the core results you have seen and of the money this mine will generate. I'm a buy and hold and only time will tell.

Please this is only an opinion, which may be wrong. I am not an expert.