I know timing is everything and I think that Wayne probably saw what the bots were doing and because there is no buyback gave them enough rope to hang themselves. Obviously there has been no support from M & G who have sat on the sideline. It just goes to show that the CDU crew can keep their mouths shut and no-one but the board was aware of what was going to happen. This is the best continuous disclosure I have ever witnessed. Normally when something like this is about to break the stock all of a sudden has a big rise before something comes out. One thing that CDU can never be accused of is insider trading or no continuous disclosure. This is why I am in this company. There is no waste of shareholders funds and there are no leaks, not once have I ever seen the price of CDU rise just before an announcement nor in the weeks leading up to announcements. As WM has said all along and at the AGM's we are not going to do a deal, just for the sale of doing a deal. We have the best copper mine in Australia and we know whats its really worth and if anyone wants to play they have to pay. If the trading halt is for a placement I'll bet its way above the current share price, certainly above $3.50 or $4.50. I would be shaking in my boots if I was a bot. If there is an offtake agreement I would be shaking in my bots boots. I cant think what else it could be other than a JV Partner or a takeover. One thing I am sure it is, is GOOD NEWS. I cant wait for 3 weeks to pass. To holders I think its our time to have a beer and cheers to CDU. I will bet WM's phone is ringing off its bells with brokers, especially the short brokers wondering if they have lost their shirts.
CDU Price at posting:
$3.09 Sentiment: Buy Disclosure: Held
