"Cudeco has brought aboard an institutional investor in a $20 million capital raising it hopes will stabilise "recent volatility" in the stock. The company, which is developing the Rocklands copper project near Cloncurry, yesterday said it had placed 10 million new shares at $2 each to a single institutional investor."
So by adding 10 million shares to the share base it adds stability??? Interesting theory!! And if this Insto decides to offload what then??
After WM said there will be no placement at these levels and then he actually places 10 million shares at $2. I think the volatility is more related to the stability of management rather than the majority retail investors.
This is one crazy and one very unorthodox story unfolding here.
CDU Price at posting:
$2.19 Sentiment: Sell Disclosure: Not Held
