I received capital raise documents today. I am entitled to 4...

I received capital raise documents today. I am entitled to 4 cents of shares as i hold 8 shares.

The subsciption price for new shares is 4 tenths of a cent . They can be bought on market for two tenths of a cent i.e half the offer price.

This indicates a significant shortfall . Still capital could end up with 200 million ie a million dollars worth .
It's a big play for the family, but seeing as CLZ has a hundred million in loses, they might have the capacity.
Remember that existing shareholder interest were virtually expunged with the two recent consoldidations.
My shares cost 7500 times what these shares are being offerd for.

I believe they are incapable of running a gold mine & to date have been dependent on shareholders brokers & financiers for funding .

It is highly unlikely that the Gekko is up to task . It is obvious they lost 100 per cent for every ounce of gold so far produced.
They just want another 1.6 million dollars to play on.
They have not demonstated any intention to mine Kat Gap.

There is no Definitive Financial Statement for all their propossed plans .

All this is highly unlikely to occur, as their track record to date is appaling & to date it has been a huge loss to share market investors.
Nobody understands the share capital structure. Ask yourself to date, have they had shareholder interests at heart, or rather their interests