cdu very vulnerable to takeover bid, page-14

China Oceanwide's stake and 20 year offtake agreement and holding to increae to 19.9% certainly makes a takeover much more difficult .

This is the long term shareholder CDU sought and got. I consider their shareholding as being of far more significance to CDU than M@G.

Mind you if a substantial offer were made to China Oceanwide with their rights to retain the offtake agreement a takeover might get up. The attractiveness of the dividend stream and offtake arrangement would be a hurdle a predator would have to jump.

I always thought Xstrata would lob a bid but they may be satisified with the Exco deal. Xstrata involvement with CDU is becoming more remote. We do not want or need them anyway. Wayne may throw some spare native copper their way at a premium price of course.