where has all the money gone

Guys/gents and ladies: food for thought.Just done some comparable numbers with 2 mining operations both open cut and both the same grade. OZL open cut Malu opeerations compared with Cudeco Rocklands open cut. Costs.

Grade from OZL Malu open cut ) 0.98%Cu for last quarter. Rocklands 0.99%Cu for last quarter. So same grade.

Revenue from Rocklands was $A25.44m. Production and Staff costs and admin: $25.60m (did not included loan repayments)

Rocklands C1 Costs $US2.98c per pound of Copper.
Malu C1 Costs $US0.89c per pound.

These numbers are from the quarterly reports from both companies. SO WHERE IS THE MONEY GOING?

Now we all know. Operating any business including mining is all about professional and experienced and capable management and good employees with experience and having the experience to control costs. Its a simple formula.
What the numbers show is that Rocklands is being very badly managed and no control over costs. Forget the WM factor and any previous excuses for this train wreck. The latest quarterly for CDU also says that the "estimates from the resource correlation is only 4% of the insitu estimates. So there is no excuse. Most Copper mines in Australia have a processing cost of $A7.00 per tonne or less. Cudcco's is 4 times that. Why? WHERE HAS ALL THE MONEY GONE. Same grade as OZL yet the costs are almost 4 times the cost at Rocklands. Something not right here. Something doesnt add up. No shareholders have been told of the Offtake agreements and the deal that Oceanwide has got. No one knows who has the other outstanding 40% offtake is with. No one knows who the loans are with and who the interest is being paid to. All a bit too hush for my liking. Who knows why Emeco the earthmoving company has quit all of a sudden. Why no notice to shareholders of these moving facts. No mention of the process plant being out of action for the last 3 weeks. About time we started getting some of the answers. iI would consider these matters as re-portable. Where are the so called auditors. How can CDU be spending 4 times the money to produce the same amount of Copper as another Aussie producer. Why wont CDU come clean and tell its shareholders. WHERE HAS ALL THE MONEY GONE?