I have a few questions about the CDU announcements. I have broken them down into 5 items, could posters please help me to figure out what is going on?
These words are taken directly from the following CDU announcements. No opinion or assumptions here.
26 May 2011 – Proposed New Rail Infrastructure for CuDeco
ASX Announcement
05 July 2012 - Multi Load Facility Update
ASX Announcement
Item 1
26 May 2011
- The facility if implemented will be utilized for the rail shipment of products from CuDeco’s Rocklands Group Copper Project, forecast to commence production in late 2012.
05 July 2012
- Production from the Rocklands Group Copper project (100% owned by CuDeco), is due to commence in late 2013.
Item 2
26 May 2011
- Additionally third parties will be invited to utilize CuDeco’s Port Facility at Townsville, which is in the final stage of granting approval of the Development Licence to construct a 200,000 tonne storage/rail unloading and ship loading facility.
05 July 2012
- Stage 3: CuDeco’s Port of Townsville Ship-loading and Storage Facility includes storage capacity of up to 400,000 tonnes of mineral concentrates.
Item 3
26 May 2011
- It is anticipated that the Facility will be operated by Cudeco or a logistical/infrastructure contractor, and will be able to store more than 1.5 million tones of product at any one time.
05 July 2012
- Stage 2: The Cloncurry Multi-use Rail-load Facility is capable of processing up to 480,000 tonnes of mineral concentrates per annum from CuDeco’s 100% owned Rocklands Group Copper Project.
Item 4
26 May 2011
- The new CuDeco Facility, if implemented, will meet CuDeco’s longer term requirements and will be based on a financial business model that will enable CuDeco to be the principal operator and owner, operated on a surplus revenue basis, and sharing of this facility with third parties will be on normal commercial terms.
- Cudeco is happy to share with third parties and offer its rail and port facilities on terms that will be commercially fair and also reflect the work and effort of CuDeco that has gone to securing these facilities and above all to add to the revenue stream for CuDeco and its shareholders.
05 July 2012
- As part of the agreement, Facility partners will make an annual contribution to a Local Cloncurry Community Fund, plus make an additional payment based on the Facility’s throughput, all up expected to total about $100,000 per year.
Item 5
07 May 2012 – Multi-Use Rail-Load Facility Update
ASX Announcement
07 May 2012
- All Facilities are 100% owned by Cudeco Limited.
05 July 2012
- Announcement has exactly the same words as 07 May 2012, except that it does not state that All Facilities are 100% owned by Cudeco Limited.
Item 4 is particularly strange. The information provided by CuDeco in Item 4 has changed significantly between the May 2011 announcement and the July 2012 announcement.
Item 5 also suggest a signigicant change between May 2012 and July 2012, just two months.
Can you clear this up for me?
straight from the horse's mouth
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