The continuing suspension , as usual with CDU compels us to add some more conjecture. Seeing as the EGM passed all the resolutions that means OW can take up the shares if they want to and CDU still has 15% of isssued shares to raise equity with
A) Are there issues with OW of some sort, are they looking for some sort of bonus to inject the $30 mill, say commission for selling NCU ?
B) You would think that Sino and CDU have already reached an agreement on payment for the electricals, are they insisting on $1.25, same as Sino price
C) Or have the financial review again got the basics right but stuffed up on detail and there is a 3rd party and a broker involved. Note no public response from CDU on AFR article, same as no response about the $50 to $100 mill needed.
And from what was reported from the EGM by MaxW, is the NCU still sitting in Shanghai bond, strangest reason I have ever heard for not releasing material or goods by customs, purity was to high. No mention of that at all in the qrtly.
It can not be denied that the company puts out PR pictorials at the drop of a hat to spruik some item or another, so it would be reasonable to assume that the NCU has not been through a smelter in China yet and the ore sorter is nowhere near fully commissioned at present.
CDU Price at posting:
$1.41 Sentiment: None Disclosure: Held
