A huge maiden Jorc has been drilled and delineated
A West Zone with shallower open cut potential has been drilled and delineated
Extensive Metallurgy test work has been done on each of these So far Met. results due to oxides in o/cut potential areas have not been good enough
Initial drilling results in the wide Anticline area have been very promising and have given CLA a clearer understanding of where the cobalt and copper flows are coming from (potential feeder zone) higher grades thicker and flatter seams
While all this was going on Cobalt price has come down substantially (as commodity prices do)
Prior to any of the above no one knew what these results might have been
So it seems to me Swissgold is being a bit un objective in expecting CLA management could have some how avoided The current position of the company
Whats needed now IMO
Is a Mining Company with appropriate Cobalt/Copper expertise and good balance sheet With a view to Cobalt supply/demand redress and Cobalt price adjustment over the long life potential of Opuwu area and resource To farm in or whatever Improve Mets, Mine Plan and Mining techniques CLA has done all this Geo Exploration work for them So its an opportunity for the above company to have a close look at what CLA has got And step in with their expertise and funding and be part of the future of cobalt via the EV/Batt. revolution
Untill such a company steps up or the Cobalt price improves IMO agree with Boards decision to slow down conserve CLA $8M cash
And that share holders to be patient
With an eye on the cash balance The work that's been done The cobalt price The Future of the EV/ batt. revolution And the very low MC of CLA relative to the above
All IMO
CLA Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held
