The funding for the Receivers and Managers didn't come from the company it came from the "lenders". Which is China Tonghai International Financial Limited (Oceanwide, Henry Liu), Noble Resources and Valuestone Global Resource Fund (Gemstone 101, Benjamin/Min Zhai, Stephen Yip) https://www.asx.com.au/asxpdf/20190702/pdf/4469n2cn9zrbd9.pdf
The Administrators are funded from the exact same pool of "lenders", as per the circular to suppliers.
If the Receivership and Administration was funded or partially funded by the sale of NatCu product then we would expect to see this as the source of funds and announced as so. Maybe something like:
"The receivership is being funded by the sale of hundreds of tonnes of Native Copper that was produced by the company in the last quarter, yet unannounced. How we produced this at a shut down site with zero staff is our little secret, as is the reason for why we dumped it in a holding yard in the middle of Cloncurry rather than getting it picked up from from site.
No need to worry, totally legit.
The CuDeco Board ENDS"
CDU Price at posting:
23.5¢ Sentiment: None Disclosure: Held
