IMO:
Who will benefit the most if CLZ becomes insolvent?
From the company announcement over 2 years ago when the Gekko was purchased:
"In order to provide an immediate revenue stream, Classic has also commenced negotiations to toll treat any initial parcels of ore from Kat Gap, while the full-scale plant is configured to suit Kat Gap ore."
- Fully refurbished to new condition (Not fulfilled)
- On track to set-up, commission, test and then process gold rich ore (Not fulfilled)
- Commence production as soon as mining approvals (Not fulfilled)
- Toll treat any initial parcels (Not fulfilled)
Page from announcement regarding the Gekko purchase:
Ann: Application for quotation of securities - CLZ, page-146
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