CDU (ASX) Ann: Results of Meeting

Originally posted by Blythefan ↑

How much money is required to be fully funded? Does the current capital raising cover that costs, and if not how does the company expect to raise the next round of funding after the cap raising? When do they expect this raising to take place, is it going to result in another trading halt?

Details concerning the project’s costings and other capital requirements will be provided in the Feasibility Study, which will be released prior to the closing of the Rights Issue. CuDeco does not publically comment on its capital management activities but is conscious of the need to maximise value for all shareholders. Trading halts are subject to the requirements of the ASX to ensure the integrity of market trading is preserved with full information disclosure.

Wow. These guys couldn't lie straight in bed. What market integrity do you have?

Maybe, if I may be so bold, the reason they are in a massive months-long trading halt is to prevent their major shareholders (and even some who may or may not be in the top 20 anymore) from selling out due to their inside information.

The way i'm reading this is "if the shares were trading somebody who used to work here who knows very well that what we have is a giant cock up disaster that's going to cost everyone the farm, would be flogging out ahead of this DFS because they have known for years and years that there wasn't a spoon full of copper in any of this dirt. So, yeah, this is basically shackling him to the rock so when it gets kicked over the transom, he drowns with us."

So, maybe if you queue up your orders really fast and some eejit actually puts a buy in on this above 15 cents, you might get out ahead of He Who Shall Not Be Named. Who is voldemort i guess.

Good to see some of my suggested questions got on there. Pity they now chose to classify McCrae's digs in Clonkers as "non-related" because he's no longer part of the board. And you can take their non-answer on his termination payment to mean he probably got a stiff truck full of Grange wrapped in $850K worth of souse as a golden parachute.

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and to the idiot who asked the question below:

"As a shareholder in CuDeco I would feel infinitely more confident if Mr Wayne McCrae was to be reinstalled to his previous positions. Is this likely to happen in the near future? If not, why not?"

Sir, I wish you plenty of health, mental health that is.

and the answer:
"Wayne McCrae was instrument to the discovery of the Rocklands..." yes, this instrument failed, it was not the sharpest instrument in the shed and that is why it was thrown away
two, pimple sized stumps as appendages ...