"As previously communicated to the market (see ASX announcement April 15th), after just a few weeks of mining, stockpiles are estimated to contain in excess of 5,000 tonnes of copper equivalent metal, valued at approximately $35 million at current copper prices. The Company continues to hold discussions with several parties interested in monetising the copper stockpile inventory which, if pursued, WILL SEE SIGNIFICANT INCOME FOR THE COMPANY WELL BEFORE THE ROCKLANDS PROCESSING PLANT HAS BEEN COMMISSIONED. "…
"THE COMPANY HAS NOT RULED OUT THE PROSPECT OF RECOVERING COARSE NATIVE COPPER VIA THE CRUSHING CIRCUIT FOR SALE WELL BEFORE THE REST OF THE PLANT IS OPERATIONAL."
"CONSTRUCTION OF THE 500 TONNES PER HOUR PRIMARY AND SECONDARY CRUSHING CIRCUITS IS ON-TRACK FOR COMMISSIONING DURING MAY."
So they have $35,000,000 million dollars of copper after just scratching the surface of LM and have stopped digging right at the huge ultra rich native copper zone. imho going ahead and selling product x the crusher is money for jam. Those funds can pay for the railway siding/ore handling facilities, the port facilities etc in no time. Then comes the shareholder…dividends!! Early dividends.
I am repeating what I mentioned earlier but $35 million was gathered in approx 1 month without digging into the ultra rich native copper zone so there is every chance a $1.00 dividend could eventuate in less than a year. If this is a possibility WM should let the market know asap as the SP will take off and the jerks holding us back will lose manipulative control….and hopefully walk away forever CDU losers.
CDU Price at posting:
$3.76 Sentiment: Buy Disclosure: Held
