Ann: Proposed issue of securities - CLZ, page-25

Garf, mate. Digging dirt out of the ground, doesn't mean the company is making money or profitable.
much much bigger operations have just folded and walked away from hundreds of millions of dollars of plant and equipment.
You have to remember they haven't spent a cent of their own money, in fact quite the opposite. They aren't even major shareholders which would give them some incentive to succeed. The longer they can keep this gold dream going, the more they are getting paid.
if building a dam or a shed gets them another 6 or 12 months in a job and getting paid, it's a win for them. Nothing to lose.