Ann: Cazaly to Proceed with Kaoko Kobalt Project, page-39

I don't quite understand the potential impact of the 6,000,000 additional shares issued as Compensation for JV Partners and Consultants. This could theoretically dilute the stock, yes? I understand its a very small issuance relative to total outstanding shares of 201MM.

I like how much skin in the game management has. And I like that consultants and partners are being paid in stock. I'm concerned about a bigger capital raise.

It seems like a $50MM Market Cap is a much more reasonable number.. Are we really looking at a 5X on this stock? I think both $CAZ and $CLA are potential 5X gains..