Yes, the cost of mining was always going to be MASSIVE due to that machine breaking layer, probably the reason the area was overlooked by other companies as being unprofitable.
They will have spent around $100m+ of shareholder funds to get to a stage where they now need to make it economically viable with only inferred resources.
If there is so much potential then where are all the records of all the CLZ directors showing the shareholders their confidence by purchasing shares in their own company?
They don't even have any confidence in their own company!
CLZ Price at posting:
1.1¢ Sentiment: Sell Disclosure: Not Held
(20min delay)