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CuDeco shares suspended

CuDeco shares suspended

Photo by Bloombeg

6th August 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Copper developer CuDeco has gone into a trading halt as the company held meetings with its major shareholders regarding funding.

In July, CuDeco secured a $3-million investment from three of its cornerstone investors, allowing the company some breathing room to secure longer-term funding solutions to complete the construction of its $300-million Rocklands mineral processing facility.

The short-term funding was needed after shareholders dismissed a A$50-million investment from Chinese firm Focus Sun Holdings, which would have seen the investment group acquire an 18% stake in CuDeco.

CuDeco’s suspension in share trading would remain in place until August 20, at which point it hoped to have finalised its funding plans.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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