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Woohoo !

SINOSTEEL TAKES SHARES IN LIEU OF CASH
Sinosteel Equipment and Engineering Co Ltd (“Sinosteel”), one of China’s largest state owned enterprises has confirmed its confidence in the Rocklands Group Copper Project, agreeing to exercise the option of receiving CuDeco shares in lieu of cash for the major additional alternative componentry for the Rocklands 3mtp copper/cobalt/gold/sulphur/magnetite process plant. Sinosteel is the supplier of the componentry for the processing plant for the Rocklands Project. Sinosteel operates in 80 countries and is a major purchaser of mineral process equipment globally, including Germany where a major part of the componentry for Rocklands is being manufactured
The agreement between CuDeco and Sinosteel allows for Sinosteel to be issued 3,333,333 fully paid shares in CuDeco Ltd in lieu of $13m cash for additional/alternative componentry.

The agreed price of the CuDeco shares was struck at $A3.90c per share which is the average share price of $3.80/$4.00 per share, being the average price per share for the two previous placements. The acceptance of the shares at a 28% premium acknowledges the confidence of the project by Sinosteel.
Yours faithfully
Wayne McCrae