DSO Timeline, page-25

As Hoots mentioned, I've been to the site, had the tour that was in the afternoon after the AGM. Yes it was all very impressive, and I saw all the Ncu in places that it wasn't meant to exist. Everyone up there was very positive and all the employees assured me they were taking up their loan shares, as many as they could. That was the type of info I was looking for, so bought cheap rights on market and bought $50,000 worth in the SPP.
I had already bought other shares, then averaged down when the price went to the high 180's in late January.

When the DSO promised sales of Feb/March didn't happen, I started asking question of the company, no response, no calls back. (I had also been asking questions by both phone and email in Dec,about the crusher and ore-sorter, also with no reply).
By the March quarterly, it was obvious still no time line for DSO sales, and the crusher wasn't working, ie they were sueing someone over it not being up to standard, yet we were told it was all right to go months earlier, a porky.
Once I knew I'd been lied to, and there are many other posters here that were told the same things, I decided to lighten up a lot. I dumped most of my shares in the 1.80's in early May.
I still have a couple of thousand shares left, but sold over 95% of my holding. Today's quarterly justifies that decision. Still no DSO sales nor a timeline for when they will happen nor how much a month they expect to sell. I believe they have a lot, from what I saw at the mine, even though they were not down to the 'good stuff'.
for acompany who's CEO can promise share holders DSO sales in 3-4 months top, but not even have a timeline 8 months later, with no excuse, is extraordinarily poor.

It begs the question of what can you trust about what they state??

The company is now down to $9m in cash, and has a loan facility of $70m, yet have not drawn any of it. I have known of other mining companies that had loan facilities in place, but when they went to draw upon it, it just didn't happen. The last thing CDU should do is leave drawing down part of the loan to the last minute, which is exactly what they appear to be doing. You only know for sure the loan is real when the funds are in your account.
I certainly hope that what has happened to others does not happen to CDU!! That is one aspect I was particularly looking for in the quarterly, yet no funds drawn yet.
The estimated expenditures for the June quarter were $7.25m (p52 march Quarterly), yet they spent $15.5m + another $2m paid with shares, so cash control/expenditure is not very good. Which begs the question, is the loan going to cover all expenditure until cashflow happens?
In my opinion, no. They will have to raise more capital (or borrow more). A cap raise is most likely with the excuse of paying off the new ore-sorter a highly likely reason. (At the mine tour last year I was told the existing ore-sorter could handle all the ore, it was a specific question I asked!)

Sorry for the long answer.
Short answer, it was all very impressive, yet not all was as it appeared. delay after delay after delay, probably means they need more cash than they have to get to full production, so I'm assuming a cap raise with the dilution leading to a lower SP.