Ann: Quarterly Activities Report and Appendix 5B Dec 2022, page-3

Is this the quarterly inactivity report or voluntary administration brief to the liquidators? A company that can’t pay its debts is insolvent, and in the case of a publicly listed company, leads to immediate delisting and appointment of administrators to restructure. CRL can’t sell any assets currently whilst in suspension, so if March falls through and the company runs out of cash to pay Matt O’Kane’s 6 figure salary, it would appear the company would have to delist from the ASX and restructure before relisting. Or the more likely outcome is that the company’s assets would be bought for far less than market value and shareholders will get a tiny dividend.

All eyes on Matt O’Kane and his ‘lucrative’ copper mine!