clearlyafter all the fantastic, and the exceptional drill...

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champkan

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26/10/21

10:45

Post #: 57072664
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Originally posted by Ty Cat Mac: ↑

Snorky

I think you are being a bit tough

Remember (if you were a shareholder at the time), that in 2019 this company was on the bones of its arse. The Gas in South Africa (CEL's only "real asset") was a dud because the SA government couldn't (& still can't) make a decision on allowing drilling to go ahead. They had NO money

In rides KK & team, they do a raise for $5m & get re-listed in July 2019. They then get hold of Argentina (Hulilan) & Ecuador (El Guayabo & Clorado V)

They raised $6.5m in Jan 2020, did a $20m placement in July 2020 & $42m in May 2021 - to fund the JORC definition of probably, between the 2 projects, 15-20m oz of gold & quite likely after this deal, a whole heap more.

It seems like you expected them to find this much gold without raising any capital!!

You have to spend money to make money & if you don't have it or want to be well covered for future exploration, you have to get it from somewhere

I don't disagree that these placements may have capped to price for now, but with the quantities of gold they are finding every time they drill, the market will wake up eventually. I said some months ago that if these discoveries were in Oz, the SP would now be in the $'s

It will be soon - remember KK said recently, "double & double again" - that puts the price at around $1.20 which is a price I think the BoD would do a deal at

Be patient & you will be rewarded

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clearly
after all the fantastic, and the exceptional drill results,
another capital raise / placement at current prices will be a shame

lets see how the markets play.

CEL Price at posting: 29.0¢ Sentiment: Hold Disclosure: Held
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Last 4.8¢		Change -0.002(4.00%)		Mkt cap ! $67.38M

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