CLZ classic minerals ltd

Many members of the public have been highly critical of how this...

  1. 4,185 Posts.
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    Many members of the public have been highly critical of how this company has operated. 3 directors have taken $850,000 PA in total out of this company for 2 years, when the company, has no income . The company loses about 10 million per year & has done so for many years. Loses to date probably amount to 90 million . All the company has to show for all this is 2 dore amalgam bars. The company in the last year has been successful in soliciting money from outside which has kept this seemingly impossible financial situation going . The company has significant debt due of around 9 million at almost 33 percent per annum. The red flags on this company are overwhelming. Something has to give shortly . Where is the next lot of magic coming from to save this dire situation? When does the 2 million dollars from the last capital raise run out? I am calling it crisis time - where is your miracle CLZ board? The only thing I could see saving you would be some Eldorado lithium find a Forestania, to try to take our 2.3 billion shares cued up on the sell side, I mean, how bleak could a company's financial outlook be?
 
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