Cudeco time line
March 19, 2025
This list tracks the rise and fall of Cudeco, which was once an ASX200 company capitalised at more than $500m, but ended up costing shareholders more than $500m.
November 26, 2024: the new owner of the Rocklands project goes into administration and the project is put on care and maintenance.
February 2, 2020: finally delisted from the ASX.
January 31, 2020: administrators appointed.
August 22, 2019: suspended for not paying listing fee.
July 2, 2019: FTI appointed receivers.
March 9, 2018: removed from the All Ords.
December 27, 2017: new chair released this statement explaining non-compliance with ASX listing rules over reserves claims.
December 1, 2017: Rocklands copper processing plant suspended from operating after regulatory intervention by Queensland Government.
September 27, 2027: stock suspended after they failed to file their accounts on time.
November 22, 2017: settled with terminated former exec chair, paying $500,000, plus a 150k legals contribution.
October 31, 2017: Last annual report released showing accumulated losses of $481m and claimed equity of $151.7m.
February 21, 2017: exit of MD accelerated until today after Queensland govt ordered suspension of processing plant.
October 28, 2016: triumphant press release to ASX celebrating opening of Rocklands near Cloncurry with Katters and Chinese Govt reps in attendance.
September 30, 2016: stock suspended again pending finalisation of Chinese bailout.
November 5, 2015: Takeovers Panel rejects request from 97 Cudeco shareholder to intervene on capital raising under-writing which saw two substantial shareholders increase their control.
September 18, 2015: booted out of the ASX300.
July 27, 2015: nice words for former exec chair after China coup saw him terminated as executive chair.
July 24, 2015: announcement that exec chair had been removed.
July 23, 2015: substantial shareholder New Apex Asia calls an EGM to remove WM as a director.
July 2, 2015: stock suspended after capital raising voted down at EGM.
January 5, 2015: announced plan to dual list in Hong Kong.
December 30, 2014: announced "unparalleled" and "world's best" features of Rocklands deposit.
October 30, 2014: last annual report released under WM. Final balance sheet $87m in accumulated losses and net assets of $394m.
October 23, 2014: attacked "fabricated and untrue" AFR article.
June 18, 2014: ASX announcement with headline including "massive copper zone".
October 30, 2007: first annual report as Cudeco lodged with ASX. Lots of Rocklands spruiking and chair talks about best bit of dirt in Cloncurry during his 35 years of looking. Lost $23m in 2006-07, lifting accumulated losses to $66m.
July 17, 2006: Australian Mining Investments changed its name to Cudeco.
July 2, 2007: raised $7m from retail investors in an SPP at $3.18, a price which valued the chair's 9m shares at $28.6m.
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