"(I hadn't heard the CDU rumour. I'm interested in CDU. They have done an extraordinary amount of drilling that has turned up results for a variety of minerals with Cu predominant of course. They are causing frustration for followers though from what I can see because they are taking so long to produce a JORC.)"
I am a holder of CDU and I believe, in my opinion, that I am a fairly large one at that, and I can agree with your comments that, yes Wayne comes up continuously with goos results with a mix of good minerals and yes, about the frustrated shareholders, awaiting for the JORC to be released.
"(If ZFX were eyeing off CDU I would be surprised if they moved on them before a JORC is produced as it doesn't fit the conservative approach they have demonstrated over last couple of years. However if they do go for them I would expect them to be able to pretty much finance it from cash.)"
Well I don't know whether or not they would have enough cash there seals. I also don't think that shareholders would let go of their shares for a pidley amount knowing very well of what the potential there would be. If they await for the JORC to be released first, then my opinion is that they would have buckley's to get it before all the majors will jump into the ring as well. With copper, gold, cobalt, and uranium there, which have already being declared, plus others that may be available, other people will be very interested
"(CDU market cap is currently about $320 million. Assuming ZFX get AGM they will still have something like $1.4 billion in the bank which should be more than enough to get CDU - if they can entice enough sellers. I suspect Wayne Mcrae would put up a vigorous fight.)"
As stated above seals, I do not think that, unless the offer is reasonably big, I would have to agree with you that ZFX will not be successfull in enticing any, or enough of the shareholders to sell. I also will agree with you that Wayne will put up a good and vigorous fight first.
Buddy
AGM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
