Ann: Appendix 3B, page-11

OZBLUE,
When a transport company decided to invest in CuDeco and take shares in lieu of cash [ $611,766 -- a sizeable sum ] and when they could have purchased an extra 59,350 shares had they taken the cash and bought on market yesterday, there has to be a solid reason for doing so.
. It is rare for a transport company to invest in a mining company. Whoever they are, they are no small outfit. To my way of thinking ,they have observed progress at Rocklands, what is coming out of the open cuts and have the confidence in the long term viability of Rocklands otherwise they would have taken all their charges in cash. Decisions of this nature are not spur of the moment nor short term ones.
I would not get too concerned about the bank loan. Wayne McCrae will use it as and when he may need it.
As to your supposition that you expect serious dilution for shareholders, I always had it in my mind that if CuDeco ended up with 300 million shares on issue that would be a good result It would be under what OZ Minerals has on issue. CuDeco has a way to go to get to the 300 million and, with the bank loan and indication of the availability of further bank money if needed, I cannot reason why you would think a cap raise is coming and soon.
Have you checked out the frequency of announcements on a Tuesday? I love Tuesdays.