A couple of reasons why there is no traction in CLA currently,...

A couple of reasons why there is no traction in CLA currently, IMO.

Today's announcement confirms that progress has been very slow on the drill front. Even with double shift, its going to be a long while before all holes have been drilled and assayed.

I'm surprise they didn't switch to double shift sooner, as they would have seen the low rates of penetration early on in the drill program. A second drill rig would help speed things up.

Given the slow progress and low cash on hand, the company will have no choice but to raise money soon, likely before they'll be in a position to release assay results (which is not ideal).

The webinar confirmed that nothing really has been happened on Opuwo. This is good in the sense that all their focus is on MCB, disappointing in the sense that this asset is unlikely to attribute any near term value in the SP, despite the rise in cobalt price of late.

Apart from increasing the confidence in the bulk tonnage of the resource, the current drill hole is basically an infill well that at best will confirm the continuity and grade of the nearby holes. The market already knows that the neighboring wells are world class, so I can't see this first hole lighting a fire under the SP.

I think the dark horse that will wake the market up from it's slumber is Sagay assays, which unfortunately at this point in time, management are not prepared to announce when this will be released to the market as they wait for the license renewal application to be granted.

IMO, what the market wants to be assured of with CLA in order to sustain continued SP support is that management is doing everything possible in their control to accelerate the different work programs. Regular updates stating this will help keep holders informed. Todays announcement was long overdue. Hopefully, we don't have to wait as long for the next progress report.

The reason the SP has been sliding is that some holders feel their money can be used else where during this lull period, as they don't feel they will be surprised with an out of the blue announcement and have time to buy back in later.

I'm holding a fairly sizable position in CLA, several million shares, so not down ramping, but saying it how I see it atm.