You are welcome to trawl back to my posts of yesteryear where I provided the same sort of commentary as i do now. I cannot recall what I worked it out as, but it was something around 20c per annum cash flow and a $2 share price.
But that was prior to all this dilution. So i guess....$1?
Holders of this stock are sadly holding on to a belief that a small portion of the deposit with bonanza supergene mineralisation will carry on throughout every other part of the deposit and deliver riches befitting Kanute.
The truth is, it is a sub-percent big tonnage low grade IOCG deposit with a few sweet spots and a lot of metallurgical problems. Conveniently, DFS's come and go and the project gets green-lit and the irrepressible character of Wayne McRae makes all the decisions.
You'd better hope he's making the right decisions. I don't have to; I have never owned nor ever will own this stock.
CDU Price at posting:
$1.87 Sentiment: Sell Disclosure: Not Held
