Another gem from Fosters Stockbroking. Sad news for many and I...

Another gem from Fosters Stockbroking. Sad news for many and I feel for those hurting from losses. Fosters put out that Rocklands could go beyond 100mt @ ~1.5% Cu and this figure was echoed in the open press - shows the high cost of bad advice.

"Friday, 14 August 2009

CuDeCo Ltd (CDU) Site visit confirms potential, BUY
(Price: $4.15; Price Target: $7.00; Diluted Mkt Cap: $588m).
Just how big is the Rocklands project? We dont know. CDU management have a better idea, but still arent sure. It appears to grow daily. What we do know however is with the amount of successful drilling that has continued over the last three years, it is probably going to be far greater than the Inferred Resource announced in July 2006 of 25mt @ ~1.6% Cu plus cobalt and gold credits. At the time, the company also stated a Target Resource of an additional 34mt at similar grades to the Inferred Resource. In our view, the ultimate resource at Rocklands could go beyond 100mt @ ~1.5% Cu plus cobalt and gold credits.

The significance of yesterdays announcement is that it confirms the extension of the orebody at depth. While drilling to date has focused predominantly on open cut resource definition, the deeper holes add significant value by demonstrating the deposit extends at depth substantially below where it is currently delineated. ...."