PG you have some very good points, I have spoken also to a number of different parties not in AUS but mainly in the UK and Canada, which is my main trading market and also my contact friend here in Zurich. A lot of those issues you have brought up management should have known about in the first place, and therefore we are in complete limbo as shareholders during which time Cobalt has fallen off the cliff, whilst they try to work out how to adapt and make modifications accordingly. Clearly they were advised wrongly. As for the project itself I do believe the resource is there, on the other hand as stated before we don't know the viability and nor do you unless you are privy to information the market doesn't know.
I have been through the announcements and annual report in detail including your posts, which I have to say are quite remarkable, you could make a lot of money in Canada or become a successful freelance journalist.
In my view as said before and talking to friends a lot of these mistake or inconveniences as you point out, could and should have been avoided. Now for management to be paid those salaries and whatever else is unacceptable for an exploration play, we are not talking about senior or experienced executives here, but I hear that is one of the problems with the Aus market. This is shareholders money in a junior minor exploration play. If and when it yields good the management should compensated accordingly. This is one of the differences with Canada, it's still the Wild West but at least you get bang for your buck.
The shareholder corporate relations has been awful, we are used to getting quarterly presentations and broker updates, the last broker update I saw on CLA was over a year ago, and I'm told they have since sold out and don't cover it anymore. This is not a good sign, or to say the least raises question marks, how come no brokers cover it? It's the best way to get non biased corporate updates not coming directly from the directors or promoters. I see from the website and various discussions that Aesir Cap are their advisors or brokers again from my research and inquiries these guys are unheard of, and made one research report on the company, again raises question marks, for a company that potentially has a world class Cobalt resource. Canadian co's used to use those kind of bucket shops, who are generally just paid big fees to spread rumors around. Most of that. has stopped now in Canada. So please don't direct me as you said to talking with BB, or Aesir, I know little about Mr Pine but he does seem more credible although there seems to be some on going issues in Namibia which you've alluded to and conflict of interest. I have some very good sources here in Switzerland to inform me. So all in all a large percentage of the problem is not just the terrible fall in the Cobalt price but also the structure and management of the company. As for Laurent I do not know him directly but my friend does very well and from what I've heard there is a lot more to it than a clash with the board or family issues. say no more. I suspect you also know.
On a final point as you have so much information and seem to be pretty knowledgeable about everything going on in the project, figures numbers and about Namibia, why aren't you running the company with a good team backing you. I'm sure you would get a better job done waiting for Cobalt to recover which like you I believe will do some day. I would support that and just with my few friends here in Gstaad we own more shares than you are showing in the register. I also hear you are a decent guy.
CLA Price at posting:
1.9¢ Sentiment: Hold Disclosure: Held
(20min delay)
