SO about this apparent announcement, page-4

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Chill

3,058 Posts.

152

11/03/17

11:53

Post #: 23270645
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Originally posted by Chill ↑

They'll be busy in the next 10 days:

They have to:

1. Provide advice to ASX to remove suspension and begin trading again;
2. Submit the updated "announcement" of the 1 Mar 17 one to ASX; and
3. Provide half yearly financials by 16 Mar 17 (75 days).

And finally, after waiting 12 months, Accelerated Minerals is due to finalise the Dohertys deal by 22 Mar 17. This will be interesting!

The announcement of 1 Mar suggested among other things:

1. They would be hiring consultants ($$$)
2. Progressing "advanced discussions" with parties regarding their latest project: shame this wasn't announced earlier for fairness to the market; how have they paid??
4. Further Engaging with various parties to consider the proposed FPG agreement; shame this wasn't announced earlier for fairness to the market; how have they paid???
3. Totally ignoring the Fraser Range project contrary to their statements in the last Quarterly Activities report whereby they suggested they were "showing off" this project to JV partners.

No CR advised although latest VWAP is best for 18 months. Expect something. No advice of a drawdown on the Standby Subscription arrangement although, expect something. I also wonder if the 100m shares on offer for FGP is deemed to have been passed at the 2016 AGM. If so, appears they may have had some knowledge of the FPG project back then but didn't advise the market. $78k is cash as at 31 Dec 16. How much on 11 Mar 17???? Debt and more debt. How are they planning to pay for these services?

So, what's going on? "Who knows" is my answer. It's just typical of Classic - all smoke and mirrors.

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Edit: Dohertys deal to be finalised by 24 March not 22 March.

CLZ Price at posting: 1.4¢ Sentiment: Sell Disclosure: Not Held
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SO about this apparent announcement, page-4

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