That looks to be offloaded already and not sure if it was laterite or sulphide, wouldn't touch laterite stuff personally, needs huge amounts of cash mostly.
I don't think buying something for 15-20m is the way to go if CLA was to look at a new project, getting into debt etc. I think they had thought about that a while ago.
I personally think something around $2-3m max would be the go. Opuwo was picked up pretty cheaply and got the SP to 24c (cobalt price boom obviously helped).
Out of what current management skillset is best, it seems to be identifying value in prospective projects (people will disagree).
They had listed the minerals they were interested in, I think manganese or gold would be a good option. Lithium is in the dumps atm.
FWIW, I hear there are lots of decent projects available where microcaps can't keep up the funds to maintain projects as it's getting tougher to raise cash. The one think CLA has going for it it still has a fair bit of cash so could pick up a pretty good project rather cheaply I would think.
CLA Price at posting:
1.5¢ Sentiment: Buy Disclosure: Held
