Hoots,
Its an ore reserve thread pal.
mmm what i remember is that the share price was multiples higher for many years under the old regime than where it is today with your chinese friends. Thats a fact! I don't need to know all the key players involved to understand that.
But for today i'm happy you admitted verbalizing announcements to suit your agenda.(widely expected) Bwhaaa! Since your such an advocate for protecting shareholders its much better not to mislead them, the hatred for the old team can cloud ones judgement while posting in excess of 29,000 posts. The reserve has nothing to do with pit design reserve statements.
As for the Chinese wreck of a plant. Since the plant only runs for 4 days and all pipes to be changed on bends, conveyors all too small creating spillage, scrubber has been banned from use so no native copper circuit, crushers failed with new Chinese design crushers, the water mismanaged so now no water, pumps have all failed, ball mill with vibrations, failed screens. Plant was built by Chinese to have a throughout of 3mtpa. It hasnt done that in 3 years.
On top of a process plant that is sub standard in all forms of quality, design 7 safety there have also been four Managing Directors, three Company secretaries, Five mines managers, six process managers, five Site Senior Executives, Seven EPA Manager’s, Four Chairmans, four CFO’s, five site Supervisors and three CEO’s in the past 3 years. It’s now with a Chinese CEO that has never been on a mine site in his life before.
Why has everyone left CDU? because they are all aware that no matter who manages the process plant it cannot produce on a sustainable basis and local word is there is gaffer tape in all the bends of the pipes. The whole plant has Silicon trying to hold things together which i'm more than certain that Steve-the-Met will confirm all of the above as a matter of fact Plenty will confirm. The whole fiasco of Rocklands is a dud Chinese plant built of inferior steel and products and inexperienced management, nothing more.
So yes it seems from my stand point and many other industry people it may have been better with the old management.
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