why pay $4 now and risk $25m?

Given $4 placement represents the approx NPV of the EIS JORC why would our new cornerstone investor take such a risk with what appears to be a muted upside?

All we really know at this stage is that they will have made this investment decision based on future expected capital appreciation/income of CDU share price and dividend stream.

Out of interest for those inclined to look at such financials metrics, the future value of $4 upfront today(some 2-3 years out before mining) equates to +$5.50!!! If you project this out to first dividend being recieved in say 3-4 years then $6.60 is the future value (excluding any actual dividend). These numbers represent in effect a opportunity cost for risking capital upfront....a bare minimum expected future price point if you will.