State of Play, page-9

Agree jezzathegeo - CDU has been viewed as a textbook case of how not to run an exploration/mining company and is a running joke in the industry, or alternatively, one of the highest profile dangers to the credibility of the mining industry.

When the music stops, and they run out of idiotic lenders who will never see their money this will all eventually implode with the shareholders left with nothing, workers and contractors all unemployed and out of pocket, local government left holding the bag, the QLD government left with a big cleanup bill, and all the copper presumably spirited away and ASIC probably at the start of a very long-winded investigation into what happened.

If you needed one example of what not to do in exploration and mining then CDU would be it.

If you wanted to see another example of a failure of regulation by the regulators then I would suggest that eventually CDU will become a learning tool for future regulators.

Someone eventually will have the time to do all the research on this story, and it will be a truly fascinating book. And when the book comes out everyone will be in disbelief that some people couldn't see it coming.