Mitsui prepayment money spent and unknown amount of copper still required to be delivered by end of year -
So not
Much cash flow coming in
Now a new 10 m usd prepayment already fully drawn from nobel- and like
Mitsui no details of how much copper has to be delivered in the future
Two Directors have resigned
Reserve has collapsed over 50 percent
General manager has resigned effective immediately
General manager has been replaced by project manager of mining
Contractor who is rumored to have left the site
CEO has left and will be replaced with the help of the past ceo who is working as a consultant to the board- or what’s left of it
The chairman acknowledges that the shares aren’t trading and they are doing their best to get this sorted, which will be when they can convince the auditors that it can continue as a going concern, only once they do this will they complete the audit and the accounts
Production in last quarter was about 13500 tons of comcerntrate after moving half of Cloncurry, but a New part Installed months ago will
Now suddenly result in future improvements plus the next six months will See an expected improvement as there is new enthusiasm
Be surprised at if this is opened up
To trade on the exchange
Any time Soon
CDU Price at posting:
23.5¢ Sentiment: Sell Disclosure: Not Held
