With all the action today, I hadn't ready my copy of the Aust till just now.
On page 14 there's an article titled "Zombies on rise as prices dive"
a few lines ...The number of zombie junior explorers on the ASX has continued to increase, with the broad retreat in commodity prices robbing them of any chance of replenishing their depleted cash balances by tapping shareholders for fresh funding.
So-called because they are so short of cash that they have stopped exploring, the zombies accounted for one in nine of the 831 junior companies that lodged Sept cash reports...up from 1 in ten for the preceding qtr"...."conditions continue to toughen for the sector , and although there are some explorers experiencing success, for many there is still no light at the end of the tunnel".
Like I reckoned its brutal for anyone trying to get cash to just survive let alone, explore for an economic resource then develop build and mine. Puts into context what CDU have been through.
Ironic if our HK office was a pre requisite for main board listing. After all the angst about having an office in HK over the years. Talk about Wayne playing a long game.
HNY
CDU Price at posting:
$1.95 Sentiment: Buy Disclosure: Held
