Lots of people seem to have agreed with you, yet you have provided no numbers at all. In the first 19mt of the JORC, there is 'officially' 1.23% Cu. I assume this includes all of the Ncu zone and Chalcocite zone.
I have allowed an extra 20% (actually a bit above 20%) above JORC for the copper in this area or an extra 51,300 tonnes of copper.
What are you actually stating? Is this number too low? Why? Where is the evidence?
The whole point I was getting at, is what lies beyond the super enriched zone, it is 0.68% at best, unless the company gets a move on with exploration and proves up higher grade primary ore from deep down, or other areas.
The company does not have rail access, nor does it look like happening any time soon, so counting on credits for Co and Magnetite is premature. It is the copper that counts, and nobody has a single shred of evidence that there is more than 50,000 tonnes of copper above what the JORC states, ie taking the total (in the first 19mt measured) from 233kt to 285kt. The 285kt does not allow for divs if the plant is to be expanded to process 0.68% Cu.
The only reason we don't have the numbers, is because the company is not releasing known information on the tonnages and grades mined so far, yet they did in the beginning of mining last year. Why?
WM has recently bought more shares, so one can assume that all that has been mined is in line with the JORC and not even 20% above it for very obvious reasons!!
CDU Price at posting:
$1.68 Sentiment: Sell Disclosure: Not Held
