He's going off the company's quarterly report where it stated it had $63M at end of quarter - the $130M from the new investor not yet received.
if we are quoting aphorisms, with respect to the $130M "a bird in the hand is worth two in the bush". Until you get the money from our Chinese brothers, it is indeed "counting ones chickens before they hatch".
He also got AOH's cash wrong, but in the other direction: AOH has $67M.
The real point is that AOH has a timetable for production, a granted mining lease, with a mining license, a mill and concentrator being refurbished now, a DFS for both deposits (Roseby getting a revamp), and a timetable set down for when the copper rolls out the gates. It is fully financed, to a set and audited capital cost estimate.
CuDeCo has none of this. The contrast is particularly stark regarding the DFS side of things. If CDU can get $130M from Oceanwide, thats a great lump of cash - probably enough to pay for most of the mill at Rocklands. As to whether anyone will make 20c EPS or $2 EPS, well...thats a bit of a mystery isn't it?
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