It seems that everyone that has something to say on CDU is not a shareholder.
The negativity from some of the posters is why Australia is in the mess it is. Remember one thing: CuDeco is not building the process plant. It is contracted out to one of the largest companies in the world, Sinosteel Corporation and Chinese State owned company. We all know that construction always runs over time on these project due to the problems in the outback developing mines. Why is all the criticism at CDU when they are just the client. The contract or on site working for Sinosteel is Walz Group from Queensland, one of the biggest contractors in Queensland. It is a $350m process plant with thousands of cubic metres of concrete and thousands on tonnes of steel and hundreds of pumps and motors and kilometres of conveyors and piping for 5 circuits, a 28 Mega watt power station, earthworks a 90 million tonne tailings dam. They only started construction in August last year. I built a house in Brisbane two years ago for my family and it took 13 months ($600,000) house in the city.
The only thing CDU is responsible for is the mining and they are going gangbusters on that. Companies building mines are in the hands of the EPC contractor and the problems associated with working 2,000 kilometres from a capital city.
There must be some pretty sad people and depression galore with some of these posters. I am told by people in the business that a plant of this size would normally take 2 to 2.5 years from start to finish.
The Olympic dam open cut is 5 years just to reach the ore. No ore for 5 years if they go ahead with it. All CDU does is report what the Sinosteel Contractor tells them.
Get a life.
CDU Price at posting:
$1.20 Sentiment: Buy Disclosure: Held
