CDU 0.00% 23.5¢ cudeco limited

So who exactly enticed the Chinese to come on board, who set up...

  1. 1,503 Posts.
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    So who exactly enticed the Chinese to come on board, who set up the office in HK and ignored Australian instutional investors. Who in fact called Aussie institutional investors D**K heads.

    Who kept blaming shorters and others for the share price instead of reflecting on the lateness of delivery of the project and ever increasing capital needs ? And the blame for time blow outs can not be put on the mining contractors, someone from the company regularly mentioned dates for production, all missed by years.

    Who was responsible for not selling NCU while spruiking early DSO sales and stockpiles of the stuff you could not climb. Instead, the kept digging and increasing the stockpiles while issuing shares at ever diminishing  amounts , massively diluting holders.

    Now if you lot and Nev thought that the company is worth way more than 60c a share, you would have let the rights issue proceed, taken up all your entitlements and there would be no extra for the Chinese holders and the underwriter to buy maintaining the current holding percentages.

    And what you are saying about the Chairman is that he has no ethics and is desperate to keep his "Interim" Chairmans role and will not upset they Chinese. That is exactly what the VIP shareholders notice says.

    The Board:
    "If the Chairman disagreed with the majority of the board he may lose that position, and so he is obliged to be in agreement with the majority of the board."

    He is not obliged to be in agreement with the majority of the Board, he is obliged by law to be ethical and act in the interests of shareholders, not be compliant so he can remain as Chaiman.
    Have you lodged a complaint with ASIC about the behaviour you are decribing ? And by the way, I would suggest that he has grounds to sue for defamation against who ever wrote and posted this notice.

    Have you lot not learnt anything from this debacle, you seem to want to blame everyone exxcept those responsible and they are they ones that were running the company.

    IMO, you may very well end up putting the company into administration by your actions and the Minsheng bank will be selling ALL the assets including Rocklands to recover their money.  And it was your former CEO/Chairman who signed the loan agreement with Minsheng.  You do know of course that SFR did a BFS and borrowed from the ANZ bank, so Australian lenders were willing to lend if the business case supported the loan.
 
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