stix I would normally say it would be at $3ish but because there is still 40% of the off take available WM (Azure really) surely must be able to get over $3.50 (minus fee's of course).
What will set all the alarm bells off will be if the agreed "sale price" for the copper in this off take is omitted AGAIN. If there is going to be a discount just say there is, and if there is not going to be one just come out and say there isn't one and take a bow Mr M!! I will be the first on here to say well done if you can get more than $3.50 in real money with no discount in the background as of course that discount just hammers all the shareholders exciting dividend numbers. Of course a deal might be made for cash with no obligation to supply copper attached. We shall see.
If anyone here cares, figure out from the JORC numbers what a 20% discount on 40% of CDU's copper would equate to. Maybe then it will make sense why a company would be willing to pay whatever inflated number "could" be agreed to. It would be a shame to see that number on someone ELSE'S bottom line no??
I also look forward to seeing what company (and type) will be taking up the shares. Sinosteel again ha ha. Could you imagine if this is a newly set up Chinese company! Oh my goodness. I have the Big 3 at 45% NOW!!
Having said all that WM might have helped negotiate an amazing deal and prove why many here speak of him the way they do. An obligation free (no off take) sale of shares for instance to a company in say Europe for $3.75 (more than a $1 off the price a few months ago!!)! How about a straight loan at 10% from a Korean company!? Even if it was imperative to throw in the off take to get the funds and WM manages to get $3.75 with less than a 10% discount on the copper he will have done well IMHO.
I guess as it always has been with CDU reality will be known to all soon and whatever stance we have all taken on this company the proof will be in the pudding tomorrow!! I might have to come here and say what a good job WM has done. Oh the thought haha.............
CDU Price at posting:
$3.52 Sentiment: Sell Disclosure: Not Held
