Yes, that's what has drawn my attention to these threads,
plus my indirect 20% interest.
HANNANS LTD (ASX:HNR) - Ann: Hannans - 2nd Quarter Activities Report, page-1 - HotCopper | ASX Share Prices, Stock Market & Share Trading ForumGold could be breaking out of a cup & handle pattern with a target price of $US2,800.
Current exchange rates could put the gold price in the
AU$3,800 an ounce range in 2 or 3 years.
400,000 ounces x AUD$3,800 =$1.5 billion.
CLZ could be sitting on AUD$1.5 billion worth of gold in a few years. Current MC is $27 million? You can see the upside potential here.
Gold Futures (COMEX:GOLD) - gold, 59683538, page-106570 - HotCopper | ASX Share Prices, Stock Market & Share Trading ForumThe real question is,
can CLZ get in out of the ground? You'll know it's time to move when HNR gets drawn into the mix. Time will tell.
I have to admit I haven't followed the fundamentals of CLZ, but after reading these threads for the last few weeks, there are clearly obstacles to overcome.
With 27B SOI, plus the costs of launching the project, I think holders are staring down the barrel of a 30:1 or 40:1 SP consolidation to bring CLZ under 1 billion SOI. Consolidations have to be timed correctly in order not to wipe out holders. But the fact entities are happy to take shares instead of cash tells me
CLZ could be using the gold in the ground as collateral. On the flip side, who accepts
shares instead of cash unless you expect an increased value with those shares? It's not like the newly issued shares can be dumped onto the market anytime soon for a quick profit.
I know current holders here aren't happy &
I wouldn't be either!! But the fact is if CLZ can get this off the ground, new investors (including HNR) will come flooding. There's much about this stock I don't like, but the fact they have gold in the ground is an important first step.
Just an interested observer at the moment.
Good luck to all holders.
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