It may seem like a mystery, but let's just take it at face...

It may seem like a mystery, but let's just take it at face value, ie. without coming up with conspiracy theories or blaming anyone.
The quality of the deposits we have in our projects, based on that alone, warrants a much higher valuation for the company. It's all been proven with the JORC's. We have the grades and the tonnage. Copper, Cobalt, Zinc, Gold... that's what we have.

Not only that, we have the expertise in our Management to actually build / develop mines. I mean, they look like the management team of an actual producing mining company, not an explorer. All of them have been in top positions at actually producing mining companies.

The only thing that the low valuation screams out at me is that the market thinks that we have almost no chance of "finding the means" to develop the mines. Either funding it through a financial instrument, partnership, etc. We just do not yet have anything "solid" in the Funding space.

I reckon the tide will turn for CLA only when the market gets a "whiff" that there is a path forward in terms of funding.