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BRIEF-CuDECO Announces Implementation Of Plan For Operational Restructuring Of Rocklands Project

Published 17/10/2018, 08:41 pm
BRIEF-CuDECO Announces Implementation Of Plan For Operational Restructuring Of Rocklands Project
CDU
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Oct 17 (Reuters) - CuDECO Ltd CDU.AX :

* ANNOUNCED IMPLEMENTATION OF PLAN FOR OPERATIONAL AND FINANCIAL RESTRUCTURING OF ITS FLAGSHIP ROCKLANDS PROJECT

* ANNOUNCED IMPLEMENTATION OF COMPREHENSIVE PLAN FOR OPERATIONAL AND FINANCIAL RESTRUCTURING OF FLAGSHIP ROCKLANDS PROJECT

* ANTICIPATED THAT FORMAL REMEDIAL PROGRAM WILL TAKE A FURTHER TWO MONTHS TO FULLY IMPLEMENT

* MINING AND PROCESSING OPERATIONS AT ROCKLANDS PROJECT WILL REMAIN IN A SUSPENDED STATE DURING THIS TIME

* CO'S WHOLLY OWNED ENTITY, CLONCURRY INFRASTRUCTURE PTY LTD, HAS DEFAULTED ON REPAYMENT OF A LOAN $US2.0 MILLION

* WILL FINALISE A LONG-TERM FUNDING ARRANGEMENT WHICH WILL FACILITATE OPERATIONAL RESTRUCTURE

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