why cdu has to be a lt investment, page-15

You need to read the bulk metallurgy testing results FS.

Sulphur Co-product From Cobalt/Pyrite Concentrate
The pyrite concentrate (cobaltic-pyrite), represents a valuable commodity for CuDeco because of two valuable contained components; cobalt and sulphur.

The off-take agreement recently announced to the market (ASX announcement, 27th April 2011), includes payment for both cobalt, for extraction and processing into saleable cobalt metal or chemical product, and sulphur, for processing via roasting and production of sulphuric acid.
The “sulphur credit” is factored into the current „cobalt price? used by the Company for calculation of copper equivalent values.

The topics been done over a million times and you either believe the JORC (which they will make $ on btw) or you don't. Personally I believe the JORC understates this resource (particularly NCu)and will wait until mining to find out.
Since the resource the deep costean excavated in LM gave more evidence of why even the drill results are understated due to nature of ore type;

- RC and DD have relatively similar assay results however both had issues
- DD missed Ncu (mostly present in soft clay base)
- RC not recording any chalcocite
- Wide costean area of Las Min excavated and reported had significant chalcocite which previous DD assayed as none
- Statistically this is very significant in relation to the jorc and raises more questions about its accuracy.

Once again the only way you'll know for sure is to mine the ore. Bulk metallurgy testwork gave a better understanding and the company is currently building the plant and will mine next year. Production results once they mine will settle the argument once and for all.