shame they didn't release a small JORC 4 years ago and upgrade it over time, would have saved many a lot of angst
Given the way in which the JORC code approaches a resource like Rocklands, it is fair to say that withholding until a large Global Resource was established was the right thing to do.
At least the consultants have approved a global resource of 1 million tonnes of copper for Rocklands after running an extremely stringent ruler over the resource.
Many here have forgotten that. And consultants won't put their signature to anything that doesn't stack up when they are dealing with measured and indicated categories.
RoyBoy
It's good to see that another poster has a more balanced view and is prepared to admit that they believe in Rocklands.
Xstrata are looking at an underground development at Ernest Henry for an 'uncertain' resource of 25mt @ 0.7% Cu and are prepared to spend $560 million to do it. That equates to $4.06 per share if they were to bid for CDU and successfully secure a much more certain open cut resource with a lot of still untapped potential. Copper fundamentals will definitely come into play here and Rocklands will be under the microscope now.
Btw, Is there anyone out there that can justify why the share price should fall to $1.20 based on the ratio metric I have presented? I still can't see the logic!
Cheers nev
CDU Price at posting:
$1.71 Sentiment: LT Buy Disclosure: Held
