CDU 0.00% 23.5¢ cudeco limited

EHM doesnt have much Cobalt in its feed, but what the have got,...

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  1. 144 Posts.
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    EHM doesnt have much Cobalt in its feed, but what the have got, a % goes into the Cu Con, and the rest to tails (From memory).

    CDU went to market with both the Magnetite con and a Cobalt-Pyrite con and had initial feedback and meetings with a South African group who would have been interested. The then Process Manager and the then Managing Director, refused the agreement because it wasnt in line with how much they tyhought they should be getting. So instead of finishing off the Magnetite and Cobalt-Pyrite circuits, they stopped the commissioning of them to save money, and start production of copper con as soon as possible because they were about 6 months behind at that stage on commissioning (wet commissioning). Which in hindsight was a terrible idea.

    With the circuits running they would have been able to get additional Operating Expenditure to balance against future loans, then once Cobalt had run its course, they could have potentially sold off the circuits (or tolled ore or went into JV agreements) for groups around the corner looking at processing Cobalt and copper for an amount to repay debt. Never understood why they didnt finish off the remaining 15% of commissioning on those circuits (I actually think because they owed contractors a large sum of money and they walked off site tbh)...... In short..CDU could have made money off of the circuit if they lowered their eyes and not been super egotists, as then they could have stuck to the plans to use the correct reagents, grind to the right size, use the opex to recruit decent staff and maintain equipment, instead of having to change reagents because the flowsheet changed (not if you ask the CotB - he still thinks that the flowsheet didnt change and the testwork was flawless) to selectively remove Copper Gold only, and suppress Cobalt-Pyrite in 1 circuit, and have no opex because of continuous modifications to circuits utilising expensive contractors and poor maintenance management plans that cost them more than it would have to have the circuits running and a sale-able product.

    personal opinion..did my own research...do your own

    On a lighter note, I saw this article online while doing some research for a Cobalt/Copper explorer out that way back in April/May
    "The underlying geology host rocks are part of the mineral-wealthy Mount Isa Eastern Successio which includes Ernest Henry, Osborne, Eloise, Cannington and Dugald River,."
    ...there is a "," followed by a ".".....do you wonder if the author of it had Rocklands there but thought hell no and forget to remove the "," ???
    Last edited by SteveTheMet: forgot to add dyor disclaimer :D 16/09/18
 
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