Jantimot your facts are correct except the $22 million that was raised but isnt on the books because the shares havent been issued yet.
"In addition to the above an agreement has been reached with Sinosteel Equipment and Engineering Co Ltd for a further placement of 6,376,811 shares @ $3.45 per shares as a further payment of $22 Million under the procurement agreement for the Rocklands Group Copper Project’s processing plant, equipment, construction and erection. Foreign investment Review Board approval for the issue has been received and the share placement will be finalised on completion of the work."
As for the disclaimer or statement by the Auditors there nothing in the full year accounts to indicate the funds needed to complete the project unless they have information we arent privy too. So it could range from $100 dollars to $100 million. My best guess is less than $30 million is needed until producing.
CDU Price at posting:
$1.96 Sentiment: Buy Disclosure: Held