Agreed that it may be a bit of a strech to think that 3,000 shareholders will part with $2000 given the way the Cobra story has unfolded thus far. However, I would give Mr Ziatas some credit, he has tried many novel ways of getting CBO back up and running.
The West Musgrave tenements are some of the most highly sought after and prospective in Australia. CBO's tenements are the only ones to have full access having negoited some time ago with the indigenous owners.
The crysophase project also has the potential to generate substantial cash flow.
So while CBO has been a sad story and it may carry a few fleas, it is not without a chance of getting a flea bath and getting back on track.
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