Ann: CEL Significantly Expands Tenement Position at Hualilan, page-5

Settle petal

They have four years to exercise the option & only need $US7k upfront & $US5k/year to maintain the tenements

The announcement says the the spend to maintain the tenements in the next year will be "covered by the acquisition of the ground magnetic data" so I doubt there will be any capital raise - especially as they have $36m in the bank

I suspect we wont be shareholders in the company when the $US450k falls due (4 years) as we will have been taken over by then!!

The majors will not let this little gem escape their clutches