DLA Piper has advised Gemstone 101 Ltd, a wholly owned subsidiary of Valuestone Global Resource Fund I ("Valuestone Fund"), on its AU$22 million investment in CuDeco Limited ("CuDeco") in the form of convertible notes and options. The notes are convertible into 44 million ordinary fully paid shares in CuDeco, with 4,400,000 additional free options being granted to Valuestone Fund. Proceeds will be used to make loan repayments to the China Minsheng Banking Corporation, which will provide CuDeco with a more robust long term capital structure. The agreement is subject to standard conditions precedent for a transaction of this nature.

CuDeco is an ASX listed mining company that specialises in mineral exploration and is currently transitioning to a major producer of mineral concentrates. The Company's principal activities are mineral exploration, evaluation, mine development and construction of the plant and other infrastructure related to the Rocklands Copper Project based in Cloncurry, Queensland, Australia ("Rocklands Project"). Its projects also include Morris Creek and Camelvale projects.

Valuestone Fund is a private equity fund sponsored by Jiangxi Copper and China Construction Bank International. It is focused on investment in mining and natural resources companies, and provides CuDeco with new strategic relationships to bring significant benefits to the Rocklands Project, including future potential markets for CuDeco's products. 

The DLA Piper team was led by Hong Kong partner Gloria Liu, with assistance from of counsel Sue Yang. The DLA Piper Australia team includes Perth partners Marc Wilshaw and Scott Gibson, with assistance from solicitor Jonathan Foo.