On October 1, 2024, 37 million CDE shares were sold at 0.1c. This looks very much like the 37 million shares CDE vested with Dolphin Corporate under the At-The-Market ("ATM") facility. With these ATM arrangements, Dolphin basically acts as a sales agent for YPB/CDE and the selling price is set and approved by the owner of the shares, which in this case is YPB/CDE. If my observation is correct, then it is further proof that it is not beyond CDE/JH selling off their shares for 0.1c.
Within the next 4 days, CDE will be issuing its Quarterly 4C for the September quarter, and that should make for interesting reading. It should provide insight in to why CDE dumped 37m shares on to the market after the close of the September quarter (if Dolphin was the seller). It also suggests to me that CDE has a serious and immediate cash flow problem with inability to raise further funds. The 52.7 million shares sold last week if my observations prove correct is that they were from JH's holdings, and could show up as a $50k short term loan from JH to CDE. They went into the September quarter with only $109k in cash and cash equivalents, they did a CR with a 334m share issue to raise $500k but with a cash burn averaging $450k per quarter (based on the first 6 months of 2023 and 2024 where they had cash burn of $900k for each half year) they won't have too much in the bank and certainly not enough to see them through to the end of 2024. The last part of the $600k CR amounting to $100k is still subject to shareholder approval. Even the $45k borrowing has to be repaid in November.
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