Ann: Opuwo Project Update and Board Changes, page-126

Good post Locksmith.

I might add that CLA has around $10m in the bank and are conserving that money rather than spending it whilst there is a huge oversupply of cobalt and prices are at their lowest. The market is very negative on cobalt atm and no amount of good news will change that sentiment and / or have an impact on the CLA share price until cobalt sentiment improves. In addition if CLA spend their cash quickly and the cobalt market is still low then a CR in a negative sentiment market will be disastrous for shareholders.

IMO the BoD made a very a good decision to slow things down. Many other companies in a similar position have taken the easy way out and continued to spend and pay very high and unsubstantiated management and board fees to the detriment of shareholder wealth.

Very good and gutsy decision by the CLA BoD and I respect them for it. The cobalt situation will soon turn around (everything follows a cycle) and CLA will then gear up in a positive market to creat substantial shareholder wealth.

As such, shareholders need to hold on tight until CLA is back on track and they will be rewarded.

All in my opinion.

Cheers SandyC