The reason the market hasn't jumped hoops is obvious.
The bold below is direct from the ASX statement
♦ Celsius to acquire 100% of Opuwo Cobalt Pty Ltd – this incorporated 9/9/16
♦ Seven historical drillholes completed in the project area with a open 30km strike with 20km of the horizon outcropping.
♦ Only two drillholes, drilled in one location, have been assayed for cobalt - Were the other 5 drillholes analysed? If so advanced why not? And if analysed was there no cobalt found?
♦ Due to the advanced nature of the Opuwo Cobalt Project -why is this so advanced? 7 drillholes with only 2 analysed for cobalt is not advanced. If fact its far from from it.
♦ Farm-in agreement to earn staged interests, requiring 3 stages of expenditure totalling $2.5M for 76% ownership, and give circa 27.8M shares of CLA to Opuwo shareholders.
Is CLA better to spend this money on CLA existing projects? Even though its money CLA don't have.
Raised $1.68M in last raising, and made a 615k loss last financial year sitting on their hands. So if they sit on their hands again this year CLA will burn through another $615K.
How is this takeover of Opuwo going to work if there are no funds? Another raising?
I want to see more information on the project including the Opuwo farm in deal.
What are the penalties etc if Opuwo don't meet terms?
NOT ENOUGH INFORMATION ON THE DEAL OR THE DEPOSIT.
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