why is cdu only $1.66 ?, page-11

Shadow for someone who doesn't like dragging up the past you are pulling out placement numbers that are now history. There was a placement for cranes at $2.50 followed by the SPP that was effectively done at $1.90 plus an option valued at 60c = $2.50 now the latest contra deal is $1.50 - all of this against a backdrop of the company's announcemnt in September saying they would debt fund the project in preference to dilution at low prices -

Well the latest price is $1.50- Not $4 or $3.80 to Oceanwide prior to them reneging or the subsequent $3.60 placement to NAAIL or the numerous different prices attributed to Sino contra deals along the way.

And yes it did take a while for the $$$ to arrive from the underwriter which creates uncertainity in the market along with the $100m loan ( facility or whatever we want to call it ) still being unfinalised several months down the track.

IMO the s/p is $1.66 because of continuing uncertainity surrounding funding , final capex numbers , timelines etc - Others dont share my view and prefer to run with the manipulation and conspiracy theories - fine thats why Hot copper exists to share differing opinions and debate.