following a forced suspension, CDU has announced that 58% of the...

following a forced suspension, CDU has announced that 58% of the principal assets of a mining company are not actually there.

Fifty eight percent.

Of the 44% now recognised as there, the calculations are based on information provided by the following




interesting list of experts who contributed to the new reserves statement,  some people have left, the CFO is now being coached by the new returning secretary, as some of these people have not been able to actually predict costs in the past,

one has to wonder how accurate the 44% remaining actually is.


Of course the over inflation of the reserves in the past was easily spotted by quite a few, insane price inputs, values on colbalt when the company had redesigned the plant not to process it , at one stage basing a new statement on a few truck tickets as no other information was available.

With such a monster reduction in actual reserves, there has to be a followed on write down in the accounts I would have thought which will result in a capital deficiency.

It will need some sort of capital reconstruction imo.

Previous people involved should be fined heavily, a long standing example of junk on the ASX imo.

They have reconciled reserves from  2015, but big money was raised from the public, existing shareholders during that time......with so many big shareholders crunched,,,,,,,,,,,,when is someone going to call a lawyer and take on some of these people involved in what can only be described as false information,,,,a 58 percent reduction in the assets the company claimed to have sitting in the ground...........

After restating their reserves , result _ a 58 % reduction,,,,,