Ann: CCZ Completes A$11.7m Raise, page-22

Has he not been serious to date @seals?

Good to see they have a comprehensive plan and schedule for the expenditure of the $11.7M.

Next steps:

- Commence drilling at the Big One Deposit and finalise test-drill targets for the Arya and Sansa Prospects
within the Mt Oxide Project.

On 1/7/20 the drill plan for Arya was finalised and on 9/10/20 Arya drilling logistics were largely finalised.

The work plan in the LSE prospectus was:

- £100,000 will be spent on the Cangai Copper Mine, which will potentially include an aeromagnetics program and further exploration activities to facilitate upgrading the current JORC compliant inferred resource (3.2Mt at 3.35 per cent. Cu) to ultimately result in the Company’s strategy of completing a scoping study as a precursor to a bankable feasibility study

- £450,000 will be spent on drilling the current targets at Mt Oxide, as well as undertaking geological mapping, geochemistry, ground physics and drone magnetic surveys to identify test drilling at the other Mt Oxide Projects

- £300,000 will be allocated towards the Company’s commitment to spend at least US$500,000 on exploring the Zed Projects by 21 August 20121 being 18 months from the date of the completion of the Zed Acquisition

Since the listing:

- drilled 20 of 35 planned holes at Big One
- conducted geofizzics surveys at Big One
- drilled none of 14 holes at Arya
- completed manifold desk-top studies
- bought leases

For a company with the stated objective of being a mid-tier copper group, employ a geologist with a depth of experience in copper would probably be a good next step, what say you? Reduce expenditure on consultants and get more bang for buck.

Were the brokers paid only in shares and options or was there a cash component to the deals?