CUO have just announced a response to the Xstrata announcement....

CUO have just announced a response to the Xstrata announcement. Talk about being sore losers.

The funniest comment is that URL is diluting shareholders.

Firstly, had the CUO bid been successful, URL shareholders owuld have got shares in CUO which post TKO would have had a capital structure of around 2.6 billion shares...now thats DILUTION.

Secondly, an aliance was always needed to get Roseby up and running, because URL was to small to go it alone.

Thirdly, Xstrta has to BUY a JV inter in the Roseby project as well as paying URL for a placement...so technically, with the extra cash that URL has, there is no real dilution to shareholders as the assets of the company have jumped.

So CUO, get over it...time to move on.

Cdchi1