It is refreshing to see that you are positive about Wayne McCrae raising another $100 million.
It is indeed pleasing that Wayne McCrae has been able to pull off a $100 million dollar bank loan at only 7% interest in a climate where risk is shunned.
The Chinese have done their due diligence and would not have lent such a large sum had Rocklands not been the goods and or there was any doubt as to the ability of CuDeco to repay the debt in the short time frame agreed upon .
To give credit where credit is due, this is a feather in Wayne McCrae's cap.
I have contacts with two overseas parties that are associated with funding to the mining industry, one a mining engineer and another a geologist.
They have both stated that there are many mining companies worldwide seeking finance from a limited pool so they can be very selective to whom they lend.
That is why it is now difficult for Altona to raise the capital to develop its Roseby find.
You must be confusing me with someone else when you think that I had ruled out a debt facility.
Wayne McCrae has said in the past that he would not rule out any options to raise finance for the development of Rocklands.
What I did say was that there was no point in debating what the announcement would say until we knew what was in the announcement and, all the talk of issuance os shares at various low prices, was a useless exercise.
I was trying to bring some sense back into the postings not to stifle debate . In other words wait and see what the announcement said ,then by all means have a debate.
You have me confused when you talk of bringing my chemist friend into the equation.
There was no possibility of discussing the matter with him had I wished to do so as he and his wife have been looking after a relatives property near Warwick.
My discussion with him previously has been in respect to the extraction and processing of Uranium ore. He also has an accountancy degree but I have never discussed CuDeco's finances with him.
I am fortunate to have a neighbour and also a friend who has extensive experience in the mining industry . .
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CDU Price at posting:
$2.23 Sentiment: Buy Disclosure: Held
