Ann: Notice of Annual General Meeting/Proxy Form, page-5

What a huge shock this is , nobody saw this coming at all .

Here's another 1/2 billion shares to ratify, and another poorly written and reviewed announcement. Someone should have proofread the document before it got released. The document has section references that are incorrect and figures that are inconsistent; this is what I've come to expect though.

Let's take a look at the technical table. This table is apparently supposed to satisfy ASX Listing Rule 7.5, yet it's wrong. Brilliant.

I've removed the resolution number (as it's irrelevant) and the Date Issued (they were all 02/12/2021), and added my own column in for commentary. The biggest problem with this table, is that it doesn't match the words in the agenda items for the amount of shares issued.The figures don't even add up in the technical explanation table either. I've copy and pasted the figures from the table - but just read through the announcement. Some match the agenda, some don't. I've highlighted the differences for fun.

	Allottee	No. and class of securities	Dilutionary effect	Issue Price	Value	Purpose of Issue	Adao's Comment
1	Whead Pty Ltd	205,000,000 Shares	0.007%	$0.001	$30,000 (this is incorrect, but it's stated as $30,000 in the announcement. This is actually $205,000)	Capital Raising. Funds applied for working capital at Forrestania gold project and Kat Gap.	According to the announcement this $205k will be used for drilling (100k) at Kat Gap and working capital (105k). Whead Pty Ltd is just a shareholders group, seems CJ Holdings A/C is the loan shark for us here).
2	Aneles Consulting Services Pty Ltd	50,000,000 Shares (resolution 5 in the agenda mentions this should be 64,000,000 shares)	0.002%	$0.001	$30,000 (again this is wrong in the report, 50million * 0.001 is actually $50,000)	Creditor Payment. The Company did not raise any funds from this issue of shares as they were issued to satisfy a payment to a creditor, for project management and development at Kat Gap.	I did some looking for this group online, and whilst they've been registered for quite some time with ASIC they have no real online presence at all. No website, no LinkedIn, nothing. There's another company called "Aneles Mining Consulting Services Pty Ltd" - registered in Victoria in July last year. Funnily enough Aneles did a few hundred million shares' worth of work for CLZ in December 2020 too. "Development work at Kat Gap".
3	CTRC Pty Ltd	22,000,000 Shares (resolution 6 in the agenda mentions this should be 35,000,000 shares)	0.001%	$0.001	$110,000 (they're still getting it wrong, it's not even a table alignment issue - the announcement is just incorrect.) This should be $22,000 or $35,000 depending on which part of the announcement you believe.	Creditor Payment. The Company did not raise any funds from this issue of shares as they were issued to satisfy a payment to a creditor, for geo-chemical work at Kat Gap.	We've been consistently issuing additional shares for this geo-chemical work. Hopefully this creditor is happy with shares they can't sell. No information publicly and easily available for this entity.
4	Foskin Pty Ltd	26,720,000 Shares (resolution 7 in the agenda mentions this should be 53,440,000 shares)	0.001%	$0.001	$15,000 (see points above, *sigh*)	Creditor Payment. The Company did not raise any funds from this issue of shares as they were issued to satisfy a payment to a creditor, To mobilise and demobilise earthmoving equipment for further clearing for preparation of drill holes at Kat Gap	Why are we trying to prepare for more drill holes at Kat Gap? Doesn't make any sense. Let's assume that this was done 12 months ago and we're still trying to pay it off in more shares.
5	Greywood Holdings Pty Ltd	32,000,000 Shares (resolution 8 in the agenda mentions this should be 36,000,000 shares)	0.001%	$0.001	$33,400 (still not quite there, but getting closer)	Creditor Payment. The Company did not raise any funds from this issue of shares as they were issued to satisfy a payment to a creditor, for management of drilling samples for integrity, safety and security at Kat Gap.	Ok, sure.
6	Chloe Ribarich	50,000,000 Shares (resolution 9 in the agenda mentions this should be 64,000,000 shares)	0.002%	$0.001	$20,170 (nope, not there yet)	Creditor Payment. The Company did not raise any funds from this issue of shares as they were issued to satisfy a payment to a creditor, for investor relations work done for the Company.	Ok, this is the biggest and most fascinating one. It might explain some of our friends on HotCopper that never stop supporting management. My first thought reading this line was: "who in the absolute f.. is Chloe? And what investor relations exactly has this person done!?" I did a bit of research. Again, Chloe has no professional online presence. What a surprise. Chloe is the registered holder of "CR Corporate Services" which again hasn't got any online presence. What Chloe does have is all of her social media publicly available, as well as her school's sports team statistics. As a preface, I don't believe that young people can't be consultants, but I'm very surprised someone that was in Year 11 in 2018 is now consulting to an exploration/mining company on investor relations in 2021, and for a cool $64,000 I might add. This is, by far, the most giant red flag. https://www.abr.business.gov.au/ABN/View?id=90279679254
7	Klip Pty Ltd <Beirne Super Fund A/C>	42,000,000 Options (they got these right)	0.002%	$0.00001	$24,000	Creditor Payment. The Company did not raise any funds from this issue of options as they were issued to satisfy a term of the Loan Agreement.	Ok, sure.
8	Rotherwood Enterprises Pty Ltd	18,000,000 Options (they got these right)	0.001%	$0.00001	$27,290	Creditor Payment. The Company did not raise any funds from this issue of options as they were issued to satisfy a term of the Loan Agreement.	Ok, sure.

My gosh what another interesting announcement to look at. CLZ management is absolutely taking the mick big time now (as if they hadn't already). I want to know what Chloe Ribarich's qualifications are in investor and public relations, as well as what work was conducted for $64,000 that qualify as a creditor payment for which 64 million shares can be justified to settle. This is the first time this person is mentioned in any CLZ announcement, and it just looks like it's issuing shares to family/mates/children. This person being named and issued $64,000 of shares for "investor relations work done for the Company" is absolutely disgraceful. The level of incompetence and downright contempt this company has for its shareholders honestly beggars all belief. Chloe, if you read this, feel free to @ me and I'm happy to call your place of business and discuss with you directly - seeing as you are apparently looking after investor relations.

What a crazy announcement.