Ann: Appendix 3B, page-3

I've really got no idea. But, as you know, I'm happy to speculate.

There will be bugger all debt paid out of the latest cap raise. Prob around 75% is budgeted for drilling and exploration with the balance for corporate overheads etc.

So where is the money coming from to pay debt and pay out the $1M convertible note? Well, after doing some back of the envelope calculations based on drill metres and exploration activities publicly announced, I reckon that CLZ will receive approx $1.2 - $1.4M from R&D rebate.

That should clear the remaining debt and clz will be in a great position.

My opinion only. I don't know anything.

DYOR and GLTAH