re: Ann: Completion of Exploration Drill Prog...
Pulled this of the Cudeco (CDU) threads. While I dont hold CDU I did consider it.
This was posted by ikeymoses, post number 6920332.
Oceanwide call Copper at $5lb by mid 2012...... When I asked the new Director Mr Ma, the No 2 man in Oceanwide at the General Meeting. He said there was an acute shortage of copper in China and that the current copper price did not reflect the true value. He also said that the global resources are diminishing at a faster rate than predicted before China's consumption increased substantially. Analysts still analysing old data based on supply/demand data before China/India thirst for manufacturing and progress. When I asked him about analysts predictions about copper being worth only $2.50lb in 10 years, he just laughed. He said, We were importing Copper from Australia in 2004. We were paying $0.50lb and today the same copper cost $4.20lb an increase of 800%. I believe history will repeat itself and this is how life is. This is what the western analysts said about gold a few years back when it was $220 oz, they predicted Gold to be $110 oz in 2010. It was $1500oz. Minerals are a depleting asset, for every tonne mined is one tonne gone forever. They cannot be replaced. There are no new big discoveries for years and the S American, Chilean, deposits are getting deeper with lower grades being recorded, increasing costs and wages and lack of water. He also said he had visited Ernest Henry Mine a month ago and what he saw was typical of simple, easy to access, open cut mines around the world, they are coming to an end, like Ernest Henry and having to go underground which will increase the costs by up to triple to open cut mines costs. When asked, what do you think of Rocklands his reply was, we looked, we did our DD and we see this as one of the most unique and high grade deposits, still a lot of more discoveries to come at Rocklands in my opinion. We believe in the Cudeco team. We visit many many mines for investment, we never saw any professional team and operation like our own DD teams saw at Rocklands. Everything about Cudeco is unique. Great rap for our team & Projectfrom our Chinese friends, but then thats why they invested hey.
ikey Moses
While CYU doesnt have Rocklands we do have good copper in Chile and Laos.
AKN Price at posting:
22.5¢ Sentiment: Hold Disclosure: Held
