I've lost somewhere between a S&%tload and a F%&kload on CDU. Way over 6 figures.
I've held since 2006 with a high average price of $3.30. I have had chances to get out at a profit but unfortunately didn't take those opportunities.
CDU has taught me a lot. I still think it's a good resource - no doubt overhyped over the years. But if the company had sound management and actually worked with the banks and brokers rather than telling them where to go, we would all be enjoying some dividends by now and would perhaps have at least recouped some small part of the losses.
I believe that due to management changes, the company has somewhat stabilised and the change at the top has been a blessing. Yes, they had to raise more money at a low price to finish the job - but what other choice was there.
I know I will NEVER get my money back on this stock due to massive mismanagement and lies over the years. However, my assessment is that selling at current prices is not the best move for me, and it's likely got more upside than downside at these levels. The dividends may never be huge, but I do believe they will be forthcoming in the next couple of years and I will reinvest these dividends in quality stocks like the banks and other blue chips. We might even catch a break and get a higher copper price by the time this mine eventually gets into some sort of production.
So CDU has cost me a lot of money, but I believe long term it will make me a lot of money as I can't think of a single company that has taught me so many important lessons about what NOT TO DO in my future investing.
For better or for worse - I'm holding for a bit longer to see what happens. It's been 10 years already so what's another 5 to 10 more
Good luck to all with your respective decisions.
