IMO:
The financial position of CLZ is a disaster, they can't pay debts and can't raise funds for the plant.
The may have had a $5m line of credit but if that is used and the Conversion Notes aren't redeemed (which is likely still) the Convertible Notes are still a liability of $4m and then add the $5.15m to get the plant operational that's getting closer to $10m.
They will need double that and more, so can't see shareholders confidence growing when management have made what should have been a path to gold a complete finance disaster!
I wouldn't bet on anything good yet as CLZ haven't proved themselves to be financially astute and shareholder caring.
Who knows what will happen?
Possibly a takeover?
Does a leopard change their spots?
IMO:The financial position of CLZ is a disaster, they can't...
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Last
0.1¢ |
Change
0.000(0.00%) |
Mkt cap ! $3.017M | |||
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| CLZ (ASX) Chart |
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