Here's a thought for CDU management. Why don't they offer ALL shareholders a 1 for 5 issue at $1.25, right now. With shareholders being able to take up more if they wanted. Keep price in suspension during Cap raise.
This way the small shareholders actually get offered shares cheaply, plus the chinese would lose control if they didn't take up their full entitlements. Currently 234m shares 1 for 5 = 46.8m new shares at below current market price, likely to be well subscribed raising $58.5m.
Of course the company would have to show some numbers in the offer documents, like how the money will get the company to production, or spent on further exploration, or how much DSO sales there will be and starting exactly when, plus the small holders would actually get a chance to buy cheap for a change.
Do the public offer AS WELL AS the current raising, so OW and Sinosteel dont get to screw the company on price.
At the same time it puts pressure on the big boys to cough up.
It's about time management stepped up to the plate and got this fully funded and properly running.
CDU Price at posting:
$1.41 Sentiment: None Disclosure: Held
