Magna to be represented on board, the following is of some relevance,
"Shareholders should be aware that the Entitlement Offer, in particular the underwriting arrangements relating to the Entitlement Offer, may result in Magna potentially increasing its relevant interest in the voting shares of the Company from 19% before the Entitlement Offer to up to a maximum of 42%. In the event that Magna’s percentage shareholding in the Company is sufficiently large the Company may lose the opportunity to obtain a substantial takeover premium for its shares in any potential change of control context."
Champ, Production cost has been included with development out flows, which is a bit disappointing for mind as I can't determine cash cost per oz.
CCU needs share holder uptake and to be producing significant volumes of dore within 6 months to decrease the risk of being back doored by Magna.
I own more today than I did yesterday, I will at this stage take up allocation.
CCU Price at posting:
14.6¢ Sentiment: None Disclosure: Held
