Copper company CuDeco (CDU) revealed this morning that it is again taking the hat around, though no details on the size or price of the proposed capital raising were disclosed.
CuDeco shares were placed in a trading halt - the third halt in just over a month - while the company seeks to put the raising away.
It's been a bumpy ride for CuDeco shareholders, who saw the stock spike from $1.35 to more than $1.90 at the end of last year after the company claimed to have intersected "some of the world's highest copper grades" at its Rocklands project.
But the run was short-lived, with the stock crashing back to $1.41 by last Friday.
CuDeco announced just before Christmas that it had entered into an MoU with its largest shareholder, China Oceanwide International Investment Co, "intended to increase its shareholding" in the company to 19.9% by purchasing $30 million worth of shares. The placement was subject to FIRB approval.
Whether the Oceanwide deal is one and the same capital raising referred to in today's trading halt announcement is unclear.
At the time of announcing the Oceanwide MoU, CuDeco also revealed that it had raised $6.15 million through a share placement to a Hong Kong-based investment fund.
Amid these capital raisings, CuDeco is pressing ahead with a listing on the main board of the Hong Kong stock exchange.
However, the company said it "does not intend to raise any fresh equity from the Hong Kong listing".
Shareholders who are having trouble keeping track of their company's raisings should stay tuned. CuDeco is promising to provide an update by Thursday morning.
Diary is sure that by this time, all will be clear.
Maybe.
CuDeco shares were placed in a trading halt - the third halt in just over a month - while the company seeks to put the raising away.
It's been a bumpy ride for CuDeco shareholders, who saw the stock spike from $1.35 to more than $1.90 at the end of last year after the company claimed to have intersected "some of the world's highest copper grades" at its Rocklands project.
But the run was short-lived, with the stock crashing back to $1.41 by last Friday.
CuDeco announced just before Christmas that it had entered into an MoU with its largest shareholder, China Oceanwide International Investment Co, "intended to increase its shareholding" in the company to 19.9% by purchasing $30 million worth of shares. The placement was subject to FIRB approval.
Whether the Oceanwide deal is one and the same capital raising referred to in today's trading halt announcement is unclear.
At the time of announcing the Oceanwide MoU, CuDeco also revealed that it had raised $6.15 million through a share placement to a Hong Kong-based investment fund.
Amid these capital raisings, CuDeco is pressing ahead with a listing on the main board of the Hong Kong stock exchange.
However, the company said it "does not intend to raise any fresh equity from the Hong Kong listing".
Shareholders who are having trouble keeping track of their company's raisings should stay tuned. CuDeco is promising to provide an update by Thursday morning.
Diary is sure that by this time, all will be clear.
Maybe.