You must be a genuis to have worked out 60% of sales straight to the Chinese, particularly seeing as Oceanwide have a long term contract to take 60% at a price discount of 5%.
In your wisdom, can you tell us why they have not sold the NCU, preferring to dilute shareholders by issuing shares at ever diminishing prices while they keep espousing early NCU sales in their glossy announcments.
And how on earth do you think they will pay dividends next year when they have the loan to pay back.
Ponder for a moment what has just transpired with the asset impairment. The plant & infrastructure have been written down on a commercial basis. That means they have worked out the cash generation over likley the next ten years to arrive at the asset valuation of approx $300 mill. You can do the sums.
So if CDU is going to be a worlds top copper miner, how would you then describe Degrussa, more Cu tonnage than Rocklands and something like 5 times the concentration.
CDU Price at posting:
$1.11 Sentiment: None Disclosure: Held
