Business Description:
CuDeco Limited (CDU) is a mineral exploration and evaluation company. CuDeco's main focus is its 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 positive cash flow of $40.75m for quarter ended 30 June 2011. Operating cash flow for the period was $(4.22m). Payments for exploration and evaluation were $(2.16m). Investing cash flow was $(7.41m). Financing cash flow was $52.38m. Cash in hand at the end of the quarter was $103.13m. During the quarter, Oceanwide applied to the FIRB to increase their shareholding in CuDeco to 19.9%; shareholders approved issue of new shares to Oceanwide at $3.80 per share; high-grade gold, silver, tellurium and uranium continued to be intersected at Wilgar Prospect; and new zones of copper mineralisation were discovered adjacent to Northern Siltstone and Las Minerale orebodies.