A$20m Share Placement
On 23 September 2010, CuDeco Limited announced a placement of 10 million new fully paid ordinary shares at an application price of A$2.00 per share with one institutional investor to raise A$20 million. Azure acted as lead manager in relation to the share placement.
Subsequent to the release of the Rocklands Copper Project resource update in mid August 2010, the introduction of the new substantial global investor, M & G Investment Funds was to rebalance and stabilise the share register.
The net proceeds from the share placement will also assist the Company in the development of the Rocklands Copper Project and give it better leverage for negotiation of project finance.