It also depends on the price of the cap raise. No 3B for COW yet, so there is a conflict between the announcement ("The new issue of shares to Oceanwide, the Company's largest shareholder, increases its shareholding to 19.99% of the issued shares of Cudeco") and Listing Rule 3.10.5, which requires the company to immediately tell the ASX that shares have been issued. Perhaps the U part of the MOU is that they aren't going to pay any more than the other party, and also that CDU have to raise that other $50m to ensure that the project can be finished before COW commit more funds.
In the meantime, chalk up another win to the armchair experts wrt the amount of funds required.
CDU Price at posting:
$1.41 Sentiment: Sell Disclosure: Not Held