tranche 3 funding in time one now fully commit, page-68

Some interesting parallels here with CDU - PLV were going to fund through Japan ( JTC ) then went with timeone.

CDU did a placement to Oceanwide then O.W got Firb approval to go to 20% of CDU an EGM was held and shareholders voted to place 15m shares at $3.80.

Oceanwide first asked for a reduction in the placement price and then an extension - clearly they were having trouble getting the $$$$

The statement below was issued by the company . after they placed the stock with another Chinese company at $3.60

"CuDeco entered into negotiations with the above group after Oceanwide Resource International Investments Limited (“Oceanwide”) requested a three month extension to complete their initial agreement to subscribe for 15 Million shares at a price of $3.80 per share. The request was made by Oceanwide due to uncertainty and volatility within global economic markets. The extension was not provided by CuDeco due to expiry of shareholder approval and its desire to finalise funding arrangements as soon as possible."

Curiously - Timeone - Oceanwide & New Apex Asia ltd appear to be all newly formed shelf companies formed specifically to place the funds in CDU and PLV - Lack of transparency is a problem for me and it also seems to present difficulties in the companies themselves getting timely funding deals put to bed ?