CDU 0.00% 23.5¢ cudeco limited

Well, I'm not a director, employee or contractor of that mine,...

  1. 35 Posts.
    lightbulb Created with Sketch. 4
    Well, I'm not a director, employee or contractor of that mine, but I do know some and the following has been told to me.
    No work still and they are doing some more much needed "maintenance"
    The planned startup planned for last week stalled ... no one knows why, just more maintenance
    Contractors haven't been paid as promised apparently
    Allegedly fuel was delivered and they can't use it for some reason......unknown

    Now for opinion or assumptions,
    IMHO
    They are stopping works for as long as they can so that as many staff leave and the company saves redundancy money which they don't have
    They are holding out as long as possible while all the accrued withheld payments ( gold credits and QC concentrate grade 10% ) come to the balance sheet, sorry a bank account and pay any immediate loans etc.
    Whilst they are not mining, processing then no FA needs to be paid asap if it's not paid.
    So it's a matter of holding on as long as they can before they pull the trigger and bring the final curtain down or ready just in case someone else does.

    If you're going to go out, go out big...... it's been said before.
    Just my thoughts and HO
    DYOR
    See how far I'm off the mark. ( no pun intended to the consultant to to the acting CEO if he's still there of they still have one)
 
watchlist Created with Sketch. Add CDU (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.