Ann: Annual Report to Shareholders, page-8

"emphatically the current disconnect between price and value. Given where we are, and what is to come, I consider the CuDeco share price is significantly undervalued."

Hmnn !! - Max - the above statement may well be true but I dont think the company does themselves any favours with getting this message across when they pay a crane supplier $30k in stock with an issue price of $1.50 - Even the most recent supplier contra payment for shipping at a $2 issue price is still 20% below the December 2013 SPP $2.50 price which the company also said was a significant discount to the underlying value

(IMO) borrowing more $$$ from Minsheng to pay suppliers in cash rather than diluting existing shareholders at $1.50 or $2 sends a much clearer message to the market. if you are trying to convince them of a share price V value disconnect.