from the announcement following the rain that was considered greater than the one in ten thousand year rain event the project infrastructure was designed to withstand apparently
The major focus at present is to restore road access to site, and it is anticipated that temporary repairs to the Corella Park Road will be completed during the next 24 - 48 hours, which will enable mining and production activities to recommence on site shortly thereafter.
THAT WAS ON THE 6TH MARCH, -
the company has not informed the market that it has recommenced mining or processing and at what rate, something that is usual when you advise there have been a total site stoppage,,,,maybe they forgot...
maybe they should have said 24-48 months?
last time there was an interruption at the YEEEEEW, 1ST December 2017 they then made another announcement that the operations had recommenced on 18th December 2017......
So assume they forgot or its actually not operating at all, so there must be a growing cashflow isssssssshew, but I'm sure they will say, no problem, plenty of time to deliver product to Mitsui..............
But deliver what exactly, this is the deal with Mitsui......................
COPPER CONCENTRATE SALES AGREEMENT WITH MITSUI
Queensland copper producer CuDeco Limited (CuDeco) (ASX: CDU) is pleased to announce that it has entered into a Copper Concentrate Sales Agreement (“Agreement” with Mitsui & Co., Ltd. (Mitsui).
Under the Agreement Mitsui will prepay US$20 million to CuDeco prior to 30 September 2017.
This prepayment will be applied to repay US$15 million to China Minsheng Banking Corporation Limited which is due on 30 September 2017. The balance of the prepayment will be applied to working capital.
Under the Agreement CuDeco will supply copper concentrate to Mitsui during the period from November 2017 until September 2018.
On behalf of the Board.
ENDS.
typical deal announcement from CDU
is a fixed amount of concentrate for the 20M? or are they supplying everything produced from November (the record month) to September 2018 to Mitsui in exchange for 20M? or are they supplying 40M worth of concentrate at current market prices in exchange for the 20 M cash paid upfront.? Or did Mitsui pay 20M upfront for 10M of concentrate.......................................there is no detail
Cant wait for the accounts, they should disclose some of these things,,,,,,,,,,
they will be tops
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