CLZ classic minerals ltd

Whilst high grades may be targeted initially by CLZ the net...

  1. 2,083 Posts.
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    Whilst high grades may be targeted initially by CLZ the net effect won't help the balance sheet after paying off debt and getting the mine operational.

    They will need IMO an additional $10-20M to get operational.

    I'm sure the creditor who is owed millions already won't remain too friendly if they can't pay interest and keep postponing debt repayment, I'd like to see the legal contract of that creditor as I believe the same one has an additional $5M credit available which CLZ may use soon if they can't get funds any other way.

    Then the real test will be how reliable their resource model will be and currently with only an inferred resource.

    I don't have much confidence in CLZ developing a profitable business model with KAT GAP once it becomes BAU after the initial high grades are processed.

    IMO I just don't think they have the right people there to get the mine running as cheaply and efficiently as possible.

    They are currently on a precipice and can stumble before even getting there!
 
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