CLZ classic minerals ltd

Ann: A$ 7 MILLION BINDING AGREEMENT FOR SALE OF KAT GAP TENEMENTS, page-27

  1. 4,254 Posts.
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    So CLZ are saying they will use the proceeds of Kat Gap sale, to develope the two Ladies.
    But RIL cancelled the sale .
    So is CLZ going to go back to RIL and try to buy it again .
    What if they won't sell it to them, after getting stuffed around about 3 times.
    It will need to be money this time, not promises.

    How much debt does CLZ have ?
    I always said Panman wanted the two ladies.
    So most recently at the Last AGM , CLZ wanted shareholders to approve issuing 500 million shares to LDA to finance Kat Gap.
    They failed paying for the ladies 3 times.

    Now they have done a complete backflip, and say they will sell Kat Gap to pay for developing Forestania.
    But they can't get the $400,O00 for Kat Gap, because they want to sell Kat Gap.
    I guess LDA could give it to them anyway, who knows.

    It's the same game for CLZ , broken promises, failed deals , complete turn arounds.
    What has changed for them is the public is highly sceptical about giving them money .
    I mean what runs do they have on the board after 11 years, with an all time high gold price .
 
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