"I’ll lay this out for you free of charge, Resource and Reserve...

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h00ts

35,875 Posts.

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23/03/18

13:30

Post #: 31980028
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Originally posted by Bloomburger ↑

Sydney,

it’s now plainly obvious you have no understanding whatsoever on mining or what terms mean. It’s either you are so far out of your league on this issue or lack a complete understanding of all of it. I’m NOT a fan of CDU and not trying to stick up for them, but it’s quite embarrassing to read some of these posts and I’m sure there are a lot of chuckles when people read yours and other naive posts of a completely overdone recycled argument.

I’ll lay this out for you free of charge, Resource and Reserve mean completely different things.

1. A Resource is total tonnes and grades drilled and put into three categories. Measured, indicated and inferred.

2. A Reserve is the tonnes and grades that are going to be mined within a certain mine plan in this case a mine open cut.

SO They can mine the 11mt and then do another design and do another 11mt of mining. Each Reserve is based on current prices of the mineral and costs at that time. If you care to look at all companies Resources and Reserves they are never the same. You just don’t understand it. I may also point out that the grade for the current reserve is almost double of other comparable mines in Cloncurry.
Example: Altona (AGO)

Resource:
Measured/indicated
163mt @ 0.58%Cu

Inferred: 127mt @ 0.57%Cu. Reserve is 86mt @ 0.50% Cu. Note: Reserve is only approx 25% of the resource. Also note the reserve grade at CDU is double that of Altona. Same at QMN Reserve 20mt @ 0.57%Cu which is half the grade of CDU.

Again I reiterate I am not a fan of CDU but the reserve and grade of Cu is quite high and 50% above any other compatible mines in Cloncurry. So Sydney guy if your going to post, try to be accurate and honest instead of just flying with the flock.

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"I’ll lay this out for you free of charge, Resource and Reserve mean completely different things"

Tomato - Tomatoe - all semantics ! they dont have an economic project they never did - read the DFS released after the event - It was only marginally viable after writing of the gazillions spent as sunken costs and was heavily reliant on selling cobalt magnetite and of course the highly sort after ( problematic ) Native copper none of which are currently being produced .

CDU Price at posting: 23.5¢ Sentiment: None Disclosure: Not Held
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"I’ll lay this out for you free of charge, Resource and Reserve...

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