a new begining for CLZ, page-325

CLZ is at a dire point now. Sitting on 9 million of debt due in a few months. If it is true that they can continue to draw on LDA , then how long can this last for ? . The company looses around 10 million per year. It claims to have sold $485,000 of gold. I doubt very much there was any profit on that. They paid out $485.000 to service the loans to the company at mostly 33 percent per annum. Dean is costing them over $500,000 a year and Lester over $200,000.
The company has basically been financed by $2 million from the equity raised from shareholders and $ 810,000 from LDA. It has survived on debt & equity loans.
The future indeed looks bleak if LDA decides not to give them much more money & the chance of getting it from shareholders is highly unlikely. No financials have been provided for the actual cost of producing the gold to date & none are provided for any future production.