Seedy - I think you may have had one to many Reds - dont drag me...

Seedy - I think you may have had one to many Reds - dont drag me into this - I call them as I see them.

I know many of the top holders and CDU has been spruiked far and wide over the last week by numerous brokers trying to place stock at $4.30.

None of the existing holders I have spoken to wanted to take stock and even less new blood was interested.

The company has done very well extracting a premium from the chinese -I dont count the M & G placement at $4 given they also got 10m at $2.

M & G,s average purchase is still below the $3.60 NAIIL paid - We have to face facts without a DFS its a monumental task to sell stock in any Explorer come miner.

The big end of town demand a discount there are plenty of companies prepared to do that.

BRU did a placement at $3.20 a few months ago but their most recent one was at $2.75 last month and the stock has traded below that price a few times since -and its a broker darling with dozens of buy recs.

its a tough market out there and the fact that CDU said they were under budget and didnt need more $$$ then tried to raise $60m and only got $12m made it the perfect target for the shorters.

Things are as they are not what we want them to be - CDU is going mining thats a given - we just dont know how many shares will be on issue before that happens.

Hoot