Cloncurry mining company CuDeco Limited (ACN 000 317 251) (CuDeco) is assessing an additional funding proposal that emerged following the recently announced financing package. Late last week, the Company received an unsolicited offer for a placement of shares to Singapore/Chinese based investment fund, which will need to be fully assessed at Board level.
The offer, if accepted, may result in a change to the current funding plans, affect the re-listing timetable, and/or result in the scaling back of the proposed non-renounceable Revised Rights Issue, as announced to the ASX 29 October 2015. CuDeco’s Interim Chairman Mr David Taylor said:
“The unsolicited offer of additional funding so soon after the UK deal was announced to the market, was unexpected and demonstrates the fluidity of current corporate activity surrounding the Company. It is also a reflection of the level of interest being generated by the value opportunity that CuDeco presents to potential investors at current prices”. The offer is currently being assessed by the Company, with due consideration of the UK deal and the planned non-renounceable Revised Rights Issue, and an update will be issued to the market as soon as possible. On behalf of the Board.
CDU Price at posting:
$1.11 Sentiment: None Disclosure: Held
