At 20c CLZ would have a market capitalisation of around...

At 20c CLZ would have a market capitalisation of around $175M!

Now have a look at other ASX listed gold mid-caps and you will see that either the resource is into the millions of ounces or they already produce for some time.

All CLZ has approved for mining is KAP GAP with a minimal resources of 83k inferred ounces and an unproven Gekko and management that can't yet decide whether they process using the Gekko or Toll Process.

They are in over $20M debt and will likely need an additional $40-$80M to get all resources to mining stage.

All combined resources are less than 404k ounces and mostly inferred.

IMO, this will NEVER be profitable enough for shareholders although everyone else will live comfortably