I've really got no idea. But, as you know, I'm happy to speculate.
There will be bugger all debt paid out of the latest cap raise. Prob around 75% is budgeted for drilling and exploration with the balance for corporate overheads etc.
So where is the money coming from to pay debt and pay out the $1M convertible note? Well, after doing some back of the envelope calculations based on drill metres and exploration activities publicly announced, I reckon that CLZ will receive approx $1.2 - $1.4M from R&D rebate.
That should clear the remaining debt and clz will be in a great position.
My opinion only. I don't know anything.
DYOR and GLTAH
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