Ozblue, The following is from the announcement of the 24/11/14...

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26/11/14

12:41

Post #: 14355947
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Originally posted by ozblue ↑

Malgmac,
The announcement yesterday clearly statedthey were waiting for the ore-sorter from Germany to be installed and operational before they could get DSO away. The only ore available is that 110mm+ that is "hand sorted". I don't expect that hand sorted ore will be of high tonnage, so the ore-sorter for the nuggets from 40mm+ up to 110mm becomes all important.

If it can be installed and running 'soon' then there is the possibility of cashflow to cover the $50-100m needed for the remainder of the plant. However if it is even just 3 months away they will need to cap raise. By now with only $21m left at the end of the last quarter, and given the spend rate over the last year, must be desperately low on cash.

With all assets held (mortgaged) to Minsheng, this can only mean some type of cap raise. The fact they have left it this late, when they are near desperation (and watch the howls come out over that) is just stupidity to me. If you are going to raise, raise early when the price is higher, never wait until your desperate.
Of course there might be some type of convertable note deal, but they have a habit of ending up very expensive and dilutive, but a possibility none the less.

Any share holder at the meeting prepared to ask "Where's the ore-sorter?" It has been nearly finished in the last 2 quarterlies.

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Ozblue,
The following is from the announcement of the 24/11/14 which is self explanatory "Ore sorter frames complete awaiting ore sorter delivery early December "

CDU Price at posting: $1.47 Sentiment: Buy Disclosure: Held
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Ozblue, The following is from the announcement of the 24/11/14...

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