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Oz you beat me to it as I had the same thoughts. The official...

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malgmac

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21/08/15

17:51

Post #: 15853234
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Originally posted by ozblue ↑

I don't know how many of you noticed, but this bit by Bruno.....

"The Board are working on a number of short term and medium term funding options and as soon as they are finalised the market will be advised and the VS lifted. All options are being considered but the Board believe that it is important that when a decision is made that the Company has certainty as to where it is going and how it will get there."

is a LOT different from the official announcement yesterday...

"expects that the documentation will be able to be finalised and released to the market within the next two weeks"

So which is it? All options are being considered by the board, or documentation is being finalised by the board??

If they are going to do a cap raise, as appears likely from yesterdays announcement, then still looking at all options told to Tony is clearly wrong.
Then there is this from yesterday...
"the Company requests the voluntary suspension continue until it can complete the
documentation for its funding/capital raising plans."
compared to the answer received by Tony that includes....
" All options are being considered but the Board believe that it is important that when a decision is made that the Company has certainty as to where it is going and how it will get there."

So are they completing documentation OR are all options still being considered???

To me it shows the company is in total dissaray. They have no idea what they are doing and are probably waiting for the 3 amegos to tell them what they are doing!!

If it really was a cap raise at a decent price for a change to make sure they actually get the money they need in, then they could have done it weeks ago. The information they need to release to the market is how much they really need to get to full production, what the costs and returns of that production will be and allow the stock to trade accordingly.
They will also need an EGM to allow for the new shares to be issued. This is the part that takes time, and the longer they leave it, the less time until the first payment is due, making administration down the road look more likely.
I mentioned much earlier on, that one of the ways the Chinese could get their hands on the whole lot is to do a cap raise too late that basically fails because it's too expensive, but gets some funds in to complete/build more of the plant, then when the first payment is not made, offer the receiver a figure that will be accepted. It seems they are going down that path, as the 2 statements we have above are in complete contradiction to each other.

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Oz

you beat me to it as I had the same thoughts. The official announcement indicates funding (loan) and cap raising and the board has a plan and is just doing the paperwork. Bruno is all over the place 'all options are being considered indicates the board do not have a concrete plan.

Who to believe out of the board and Bruno is a tough one. IMO Bruno has overstepped his authority by putting that email out - and do we trust that TT actually got that email with that wording from Bruno. I know of no other CFO of a public company that would respond to a single shareholder with that content. And yes TT I know at least 4 current or former CFO's of public companies much larger than CDU.
Then again if it was from Bruno , TT should expect a follow up correction email in a day or two.

CDU Price at posting: $1.11 Sentiment: None Disclosure: Held
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