The fall of 58 percent in the reserve didn’t come from the Chinese changing the mining plan and the parameters multiple times
The company was forced into a suspension and asked to redo its statement because it’s plans or schemes as I like To think of them were not reflective of reality
How do you process ore and produce revenue from cobalt and magnatite when the company redesigned the Plant and then abandoned such things when it comes out and says after it’s rights issue at 80 cents- we are just a copper and gold
Miner- that’s all we are going to produce? You can’t
You therefore one shouldn’t forecast revenue of products you don’t and can’t process in your mining plan - As a consecquence this was removed ( cobalt etc) and other parameters put in which better reflected reality
As a consequence down58 percent
This imo will affect the soon to be released financial accounts
CDU Price at posting:
23.5¢ Sentiment: Sell Disclosure: Not Held