I was there and nothing was asked except by myself which makes you wonder why the others turned up!
What I can tell you is that the gold assets are to be spun off into a new company and CLE holders will get stock in this. There has been no money to progress these assets in NZ and the Pilbara so with the gold price on the rise probably makes sense. Personally I think the focus should be on the main game which is the Labrador Iron Ore claim.
Had a very interesting consultant there who, in the absence of the new CEO (ex RTIO), whose plane had been delayed so he missed the meeting , explained the ins and outs of the Canada project. Looks extremely promising and much more down the line of what we should be doing.
There are purported to be 3 deposits of hematite (20m T I think was mentioned x 3) which could be easily mined, blast and crush, and sold for cash flow. The main deposit is magnetite and massive. Claim will need a 7km truck run to the existing common use railway line, and loads of power already there.
No doubt this will be a doer upper and then sell to a mega player like RTIO/BHP/China.
As regards the loan, I was waiting for the gnashing of teeth and wailing, but it never came and with EUR expected to be nearer $400m than $100m in a month or so, who cares it's not paid back.
CLE Price at posting:
0.2¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)