Australian Shares Sparty's Blog
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Posts on this website are general "tips" and nothing more than that and should never be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy.
Main Forum•Cudeco 30.9Mt at 4.7% = 3 billion pounds of copper
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Cudeco's latest release that now includes the results obtained from processing a large sample of its' deposit reveals a head grade of 4.7% and a JORC of 30.9Mt giving them ~3,000,000,000 pounds of copper.
"The copper metal content of the clean native copper is 99.65% Cu average, and will be saleable in its own right. It is now also being evaluated using Melt Studies to determine the best way to convert it to higher value products such as Anode Copper and other cast products, for sale to an end user or refiner.
The most significant outcome of the results of metallurgical testwork received to date from this work is that the bulk sample used for this work, which represented 528 metres of PQ (82mm) core representative of the native Cu zone of central Las Minerale, has returned a total grade based on recovered products of 3.38% Native Cu plus a 0.99%Cu average sulphide, ie., 4.37% total Cu."
This places Cudeco in the interesting position of having a huge amount of copper and a very low market cap plus adequate cash on hand not to mention a liaison with a very powerful Chinese company with expertise in copper.
Having trawled through nearly all of Australia's other copper explorers I haven't found another one with anywhere near the copper pound in the ground value.
Cudeco also have another large poly metallic deposit at Wilgar that wasn't included in the latest JORC and a large Uranium anomaly in the SW of its lease. Additionally they have most of the trucks and parts for the milling plant already bought and on site.
Taken all together this makes Cudeco one of Australia's most interesting speculative plays in Australia at the moment.
I think there are going to be a lot of red faced brokers who based their sell recommendations on pub talk and didn't do their homework while telling CDU's mum and dad investors to sell. It looked like they were taking their advice from the stock chat sites! Hopefully they the investors will vote with their feet and find brokers who actually read reports.
Please note that I am a long term holder of Cudeco and that I am heavily biased towards them.... consequently you should do your own research as always. -
I have now been through nearly all of Australia's copper deposits and haven't found anything that comes near to CDU's grades as described in the sample results.
There used to be a couple that came within a bulls roar but the good grades appear to have been mined out.
I researched all of the listed deposits down to one third of the size of the Rocklands JORC.
Then late today I got an email from an independent researcher who came up with almost exactly the same figures but he calculated his in a different way to how I did mine.
He also outlined his thoughts as to what corporate game is being played. So far I don't have any idea if the concerted knocking that CDU is getting in some of the stock forums is organised albeit illiterate. Possibly a few people masquerading as many or even something a little more sinister, if they are linked to the corporate play that seems to be unfolding. As always time will tell.
What I post should not be taken as authoritative, accurate etc. It should be taken as the ramblings of a highly motivated CDU investor. Indeed just "another clown at the circus". In particular it should in no way be used as information on which to base an investment decision.
