Quarterly Report

Another quarter of non plant performance. At 3mtpa which the plant was designed for can only produce 322,211 tonnes for the quarter instead of the nameplate of 750,000 tonnes per quarter. I just did the numbers: at 750,000 @ 1%Cu would have produced 7,500 tonnes Copper metal with revenue of $A69m instead of their paltry $A25m. This is just more proof the plant is unsustainable to produce its nameplate production. 1% Cu is making money for every other copper mine but CDU is losing $10m a quarter because of irresponsible and inexperienced management and a dud process plant. Like-watching paint dry that never can.