interesting interpretations, page-3

GiddyYup, now you are putting spin on the announcement!

a) OW have broken the share purchase agreement, signed, sealed and delivered. Not the MOU. They are in breach of contract.

b) ACCORDING TO THE ANNOUNCEMENT, not your spin, OW have asked "that they may entertain settlement of the agreed placement but on a deferred basis ...". "May" is not "can". You also omit the fact, according to the announcement, that OW have asked the company to reconsider the agreed price. I'm sure not even the die-hard CDU bulls would think that OW want to pay more, so they are asking for a price reduction. The announcement would be a lot clearer if CDU WOULD admit that raising capital at $3.80 is now very difficult or impossible. Either way, OW are in breach of contract. I too am uncomfortable with the idea that OW never intended to pay up. They have put a lot of effort and expense into their due diligence and negotiations, and they have already paid $82m for a stake in the company and the offtake agreement. So the most logical reason for the situation is that they can't raise the extra funds. Hence talks of price reductions and possibly being able to pay in three months.

c) The company have just commenced discussions with a new group in October. ZZ was asking what happened to the previous groups mentioned. Discussions with the new group won't actually get under way until Monday due to the week's holiday in China. Meaning perhaps another six weeks in suspension for DD?