Cap raise incoming? - AFR, page-91

Hi CDU'ers


The following is the text of an email that I have forwarded to Senator John Williams, concernting the trading of CuDeco(CDU) in the ASX:


"----- Original Message -----
From: maxw
To: [email protected]
Sent: Thursday, October 23, 2014 5:42 PM
Subject: CuDeco(CDU) Limited - Trading


Senator John Williams,
National Party Senator for New South Wales.
National Party Whip in the Senate.

Dear Senator John Williams,

Further to earlier correspondence on the trading of CuDeco(CDU) Limited on the Australian Securities Exchange(ASX), it was disappointing for CDU shareholders today to read the untruthful information that the Australian Financial Review(AFR) printed about CuDeco in their newspaper in this morning's edition(23rd October, 2014).

What is most concerting is that short selling of the CDU stock on the ASX was probably planned and executed as a consequence of the AFR Article on CuDeco and the subsequent reaction of the market in selling the share price down. The manipulation of the share price is cunningly undertaken by the traders shorting the stock.

Many CDU shareholders would likely have been forced to sell shares because of the fear of heavy financial losses and/or were unable to cover margins during the day.

This type of event to date has been condoned by ASIC as perfectly legal and has never been investigated for malpractice. The Regulator was reported in the news as saying Australia is a paradise for Corporate crooks.

Today's ASX Announcement to the rebuttal to the AFR Article by the CuDeco Board of Directors was as follows:-

Response to AFR Article today


An article that appeared in Australian Financial Review today made some comments that were fabricated and untrue.

The article said that:

1. AFR Claim: CuDeco had rejected a handful of offers of convertible notes from US Hedge Funds.

CuDeco has not been offered or rejected convertible notes from US Hedge funds.

2. AFR Claim: CuDeco as at June 30th 2014 “had A$9.6m in the bank and had spent $US45m of a $US65m Bank Facility.

As at 30th June 2014 CuDeco had not drawn any of the US$65m Bank Facility

3. AFR Claim: CuDeco was looking at a Hong Kong and or Singapore listing.

CuDeco has on numerous occasions advised shareholders over the past 5 years of a possible dual ASX/HKEX listing in HK. The company has never discussed the possibility of a listing in Singapore.

-end –
Board of Director
An investigation by the Government into CuDeco(CDU) Limited trading would reveal all the manipulation that is going on in the ASX. The Senate Inquiry into ASIC could pursue this
for the benefit of all Retail Investors trading stocks on the ASX.
Yours sincerely,
Maxw"
--------------------------------------------------------------------------------

Referred for the information of CDU shareholders concerned.

It was nice to see that Mr. Wayne McCrae, Executive Chairman, CuDeco Limited, bought another 100,639 CDU securities on market on the 23rd October, 2014.

I suppose it is a promising sign that all is going well for the completion of the plant at Rocklands in the weeks ahead.

It has been a long wait for long-term CDU shareholders but rewards should be fruitful when Cash Flow commences from up-coming sales of copper.

cheers,

Max
--------------------------------------------------------------------------------