Ann: Proposed issue of securities - CLZ, page-41

I guess the sceptical part of me says, it's the pattern the company has been using to keep this charade going for so long and all the family and friends getting paid.
things were looking a little slow a few years back, they bought a $5M gecko in a questionable business deal, announced they were about to go into production.
it took satellite images gathered by burnt shareholders on here to realise the gecko was in a thousand pieces, not even assembled in a usable state, which the company conveniently forgot to mention despite pumping the near production status.
ok, so they have built some dams now, you have to remember they are not using ANY of their own money to make these "advancements"
there has been joint ventures announced to pump the share price, then the JV is never talked about again!?
they talked about production some time ago, and turns out they didn't even have a water use permit or a any of the licences required!
there seems to be the other small issue of no accommodation or staff buildings on site to allow anyone to run this whole set up at any kind of commercial rate. It's in the middle of nowhere from all accounts, so it's not like your are going to go out there and do an afternoon shift and come home again.
it's one thing to pan a bit of gold, or use some poker table to sift out some specs, but to run at nameplate speed or production levels as a functional mine, there seems to be a lot lacking.
You speak of long term shareholders being burnt, my fear is that before too long, you will fall into that catagory also. The rate they are issuing shares, another consolidation has to be on the cards, or they simply keep issuing shares, get the plant kinda finished, announce they are going into administration and a family or friends or related company gets the whole thing that has been paid for by shareholders, at a bargain basement price.

Unfortunately, i think there is a reason why company insiders are not snapping up the shares at this "bargain price" let's face it, they can't get any cheaper price wise..
if they are really about to make some money, let's see the directors and family involved start buying up shares. Then i will take them seriously.