I see a few questions there that I cant give accurate (cough) answers to, but I can guess.....:
1. This Board will never pack it up without a fight. They are getting paid way too much for doing way too little, and quite possibly would not be accepted on the Boards of any further companies in the future. So.....
2. That letter will more than likely recieve a blanket "thank you for your concern, we are doing everything we can and are currently unable to answer directly any of these questions, please bring it up at the next AGM" response.
3. "giving a true and fair view of the Group’s financial position as at 31 December 2017" does not legally mean accurate. It means true as to what the auditors get told and is provable on paper (not in real life) and also it means fair to the Group.... which means it is possible to be permitted by law, to exclude or include any information that will not result in a substantial monetary loss (in this case exodus of shareholders) as long as the information is recorded somewhere that drill results turned up 900gpt of Gold in the dirt, thats all Auditors can go on.
4. It doesnt take long to cook the books. They are more than likely looking for a way to describe things adequately and explain to the chinese investors how they have screwed them and getting legal advice on how avoid lengthy court cases for the impending doom to befall them. They couldnt have lost the data (as that is also a breach of trust, which carries similar penalties to providing misleading information), I am pretty sure that some managers who worked from home would have had a full copy of all data required if there was ever to be an issue they could help with in the future.
as a post note NB I guarantee that the AusIMM memberships for the people involved (particularly 1 being the . . . (rhymes with bee ee oooh) of the company as a signatory on the compliance as a Fellow of the AusIMM [a membership which I cancelled in 2012 because it means less than the paper it is written on now]) will not be questioned, and the audit will find that there are minor issues, but nothing substantial to prove wrongdoings.
But as always... DYOR this is only education opinion and should not be taken as gospel. (disclaimer plus!!)
Also, its worth reading Cudeco 2015 financial report for a bit of the funnies, reminiscing about the good old days.
CDU Price at posting:
23.5¢ Sentiment: Hold Disclosure: Not Held
