Ann: Cazaly to Proceed with Kaoko Kobalt Project, page-12

Agreed.

According to there most recent financials they have a half yearly cash burn rate of 968,656 per half year with only a very small income coming in.

https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvTDYC5Ai9zRWZo/Zjke92GA==

With Cash assets of 661,671 we can expect that figure to now be down around 200,000 so a CR really must be coming over the next month or 2.

I would stipulate that they are going to want to bloody get a move on publish some drilling results within a fortnight to get the market interested. If they can match the hype of Monday's expected CLA JORC then given they have just reached an agreement to secure the mine it makes CAZ look pretty undervalued.

A theory I have is that one of the manufactures needing Cobolt may be very interested in stepping up to the plate and funding CAZ directly for share of this precious metal given how much money their close neighbor is about to make. We all know that feeling when a neighbor drives past in a nice shinny truck.

Something else to consider in your due diligence is the dilution effect of the the CAZ JORC assuming they do make it that far.

Remember that CAZ has agreed to grant CAZ shares to the owners of the property KDN Geo Consulting CC under the terms below

• issue 6 million CAZ shares to the vendors and KDN and be obligated to;
• Spend N$3 million (~A$270,000) by 18 November 2020 on the project,
• Issue 10.5 million fully paid CAZ shares upon the delineation of a JORC compliant resource containing at least 10,000t of contained cobalt (or other metal equivalent), and
• Pay A$1 million (or issue fully paid CAZ shares to that amount) upon a formal Decision to Mine

Source: https://hotcopper.com.au/threads/an...th-kaoko-kobalt-project.4131529/#.WtFsuYhuaUk

So we do have not just a CR but also a dilution upon granting of the JORC so I don't this is a company you want to max out your credit card on just yet

But..... If CLA move to a 150 million market cap on the basis of their JORG then if CAZ can provide some evidence that they are sitting on even a ball park similar grade then surely it is not unreasonable to assign a value to CAZ of around 20-30 MC at this early stage.

In short and IMO , have a small punt and watch is like a bloody hawk for signs to contribute more