Ann: Company Update, page-12

Yes, as usual, it's all a little more than 'not quite right'
The UK money should have been drifting into the bank last Wednesday, and was obviously not signed last Monday.

Late last week, the desperation levels must have been at an all time high, as VA is only a whisker away.

Grab your popcorn and hope there's a revised revised revised timetable, as this one from 29th October (below) isn't going to go ahead now. With all the exploration and mining workforce now laid off, there is going to be no mine in early 2016, that's for sure, as I see it.
What a sad state of affairs.

Sorry, I can't format the old announcement properly.

Cloncurry mining company CuDeco Limited (ACN 000 317 251) (CuDeco) announced today a major boost for its flagship Rocklands Group Copper Project, after securing a new $30 million investment with a United Kingdom-based institutional investor. Final agreements for the placement are expected to be signed by 2 November 2015, following which specific terms and conditions will be announced to the market. Upon receival of the funds, CuDeco will seek to remove the current trading halt and recommence ASX trading of its ordinary shares. Following the placement, the Company will withdraw the previously announced renounceable rights issue (refer ASX announcement dated 17 September 2015) and undertake a new nonrenounceable Revised Rights Issue to all eligible shareholders. This will be conducted on the basis of one new fully paid ordinary share for every four shares held, at an issue price of $0.80 per share (New Shares), seeking to raise approximately $63 million before costs (Revised Issue).
Commenting on the new funding package, CuDeco interim independent Chairman David Taylor said: “CuDeco is pleased to welcome onboard a new cornerstone investor which will help diversify our shareholder registry internationally.
With the support of this new institutional investor and our current shareholders, the Company is looking forward to completing the electrical installation and commissioning of the Rocklands project and delivering our first commercial shipment from the mine by early 2016.
“We would also like to thank and acknowledge our major shareholders, China Oceanwide International Investment Co. Ltd, New Apex Asia Investment Limited and Sinosteel Equipment & Engineering Co Ltd for their generous offer in regards to the previous Rights Issue and their continued support of the Company.”

The indicative timetable for the new funding package is:
Event Date Signing of long form agreements with UK-based investor Monday, 2 November 2015
Company anticipates to receive first draw down of funds Wednesday, 4 November 2015 from investor and the Trading Halt be lifted –
Ordinary Shares recommence trading Prospectus lodged with ASIC and ASX and Appendix 3B lodged with ASX Monday, 9 November 2015
Notice of Rights Issue sent to Shareholders Wednesday, 11 November 2015
Shares commence trading on ex basis Friday, 13 November 2015
Record Date for Rights Issue (7:00pm Brisbane) Tuesday 17 November 2015
Dispatch Prospectus and entitlement acceptance form to Shareholders and dispatch announced to ASX Friday 20 November 2015
Closing Date of Rights Issue (5:00pm Brisbane) Tuesday 1 December 2015
Advise ASX of any shortfall Thursday 3 December 2015
Allotment of New Shares under Revised Issue Monday 7 December 2015
Dispatch of holding statements for New Shares Wednesday 9 December 2015
Normal trading of New Shares on ASX begins Wednesday 9 December 2015

The Company has engaged Australia-based Paradigm Securities as lead manager to the Revised Issue. CuDeco and its lead manager are seeking an independent underwriter for the Revised Issue and will provide a further update to the market in due course.
To increase the Company’s detailed disclosure and investor confidence, a Feasibility Study for the Rocklands Project is also advancing towards completion with the Company aiming to complete and release the study by early December and undertake an investor roadshow in the first quarter of 2016.
“The Board appreciates the support of our shareholders in delivering Rocklands amid challenging market conditions. The Rocklands project future coppers sales will benefit from the depreciating Australian dollar, and with its expected high-grade ore during the initial years of production will deliver substantial operating cash flows for shareholders’ benefit,” Mr Taylor said.
On behalf of the Board.