CuDeco Limited (CDU)

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General Information
Company Name: CuDeco Limited
Stock Code: CDU
GICS Sub-Industry: Diversified Metals & Mining
Market Cap ($M): 321
Equiv. Shares (M): 235

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 1.300 $ 1.335 $ 1.360 $ 1.270 $ 1.365 518,932 $ -0.065  -4.762 %

Company Overview

Business Description:
CuDeco Limited (CDU) is a mining and mineral exploration company. CDU’s main focus is the Rocklands Group Copper Project in Cloncurry, Queensland.

Strategy Analysis:
2010 is a year that CUD would prefer to forget, with shares falling 48.85% on 18 August 2010 on the back of an updated resource estimate announcement. Its underlying strategy is to achieve maximum share value via the systematic exploration, discovery and delineation of the numerous defined mineralised occurrences evident at its large copper-cobalt-gold mineralisation at Rocklands. CDU have no intention of joint venturing or selling any equity in the Rocklands Project and intend to develop the deposit itself. CuDeco reported negative cash flow of $20.97m for the quarter ended 31 December 2012. Operating cash flow for the period was $(10.47m). Payments for exploration and evaluation were $(2.51m). Investing cash flow was $(10.31m). Financing cash flow was $(186,000). Cash in hand at the end of the quarter was $75.38m.

Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2014  A -4.5 -2.1 -- 0.0 0.0 0.0 --
2013  A -4.0 -2.1 -- 0.0 0.0 0.0 --
2012  A 0.8 0.4 -- 778.5 0.0 0.0 --
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F
BHP Billiton (BHP) $110,065 M 0.1223 -0.1280 0.2333 12.8160 14.6981 11.9175 3.75 4.17 4.33
CuDeco (CDU) $331 M -- -- -- -- -- -- 0.00 -- --
Iluka Resources (ILU) $3,182 M -0.6600 -0.7959 4.7923 24.7799 121.4058 20.9597 1.18 1.52 2.38
Rio Tinto (RIO) $26,673 M 0.5848 -0.3078 0.0956 7.9715 11.5169 10.5116 3.51 3.91 4.18
Sims Metal Management (SGM) $2,251 M 3.0215 1.1230 0.2957 32.6797 15.3932 11.8803 0.91 2.56 3.90

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
CDU -- -- 0.80 -- --
Market 0.90 15.3 1.23 1.72 1.52
Sector 0.69 11.4 0.82 0.95 2.94

Name Position Start Date
Mr Wayne Michael McCrae Executive Chairman 15 April 2002
Mr Peter Robert Hutchison Executive Director 01 December 2004
Mr Paul Keran Non-Executive Director 02 July 2007
Mr David John Edward Taylor Non-Executive Director 03 July 2009
Mr Gerald (Gerry) Adrian Lambert Non-Executive Director 27 April 2010
Mr Zhijun Ma Non-Executive Director 01 June 2011
Mr Hongwei Liu Non-Executive Director 04 April 2012
Mr Zhaohui (Tony) Wu Non-Executive Director 03 July 2013

Name Position
Kamlesh Ramdeo Commercial Manager
Bruno Bamonte Company Secretary
Wade Freeman Process Manager
Robert Brougham Project Manager

Substantial Shareholders
Holding Name
30,338,774 (14.80%) Oceanwide International Resources Investment Co. Ltd
26,620,528 (12.98%) New Apex Asia Investment Limited
10,933,333 (5.33%) Sinosteel Equipment & Engineering Co Ltd
10,370,906 (5.06%) Kaldig Pty Ltd

Calendar of Events
Date Event
30 July 2015 Report (Quarterly)
29 April 2015 Report (Quarterly)
17 February 2015 Report (Quarterly)
30 January 2015 Report (Quarterly)
31 October 2014 Report (Quarterly)
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