Don't know about thatWe are dealing with the fall in SP since...

Don't know about that

We are dealing with the fall in SP since January 2022

If you look at the last annual report (for 6 months to 31.12.22 with comparatives for 12 months ended 30.6.2022 - they changed financial year end dates)
the following shares were issued

6 months to 31.12.22
Shares issued for cash - 13,684,213

12 months to 30.6.2022
Shares issued for Hualilian purchase - 114,000,000 at 27.5c
Shares issued for EG purchase - 18,000.000 at 27.5c
Shares from options - 86,644,444 - at 4c - not sure where you get 120,000,000 - that figure maybe the performance rights not yet exercised
Shares in lieu of cash - 4,417,246 at 18.7c

The exercise of the 86m options put nearly $3.5m in the bank - yes it was dilution but at the end of the day that was not the reason the SP has fallen. It has been caused by constant low volume selling - just like someone trying to drive down the price

As I said above, if you have watched the SP each time a positive announcement was made (& there has been a goodly number of them since January 2022), you would have noticed that within a day or two (& often on the day) of those announcements being made, the SP declined some more - it's happened every time

Also, if you have kept up with KK's video presentations on you tube/small caps etc, he has noted endlessly that CEL is being valued on an ounces in the ground basis of around 50% less that the company's peers. So he is saying the MC should be at least double what it is & from that point he maintains they can then go 2 x 2.

KK would disagree with your assertion that the MC is "still strong". It's not