CLA (ASX) Ann: Opuwo Project Update and Board Changes

Originally posted by phuket guy: ↑

Benz please stop your constant negative wingeing agro comments mate. your little private vendetta to try to blame others for your loss is tiring - especially at a time like this - Nobodies "gone to ground" here. Ive got myself mates and other people I respect with millions in this company.

So for now Im trying to get the latest facts from the directors as much as I can. But I've been on holiday at a trail running event in the boonies in the pines since thursday. And so far they have not been very forth comming last two days. Im free today and hope to get through today. I don't want to say anything now until I get more info. I think its pretty bad /ridiculous the way management have made this announcement. and left the market hanging so much over the last months -even though i agree with the move now to go-slow. But We all need more info.

Like
has anything changed for the worse with fundamentals over the last few weeks since we talked that hasnt been or cant be announced as it coud be seen as a forward looking statement by ASX???

Like will the resource upgrade still be done and announced as previously announced and forecast?

will the SS still be completed as previously announced? - or not or If they need more time for the metallurgy - how long or will they just halt all testing and further SS met work for now.?

Roughly what cobalt price do directors anticipate might kick more expenditure on work back into action?

meantime Which directors salaries will be cut, which consultant costs will be cut etc.What other costs will be saved and subsequent forecast cash burn rate?

was there a squabble or agreement between directors on how to proceeed last BOD meeting etc etc..

are they now planning to just sit on their hands for a while as a "cobalt call option" or keep persuing marketing for a buyout- or persue a potential new project to use their good cash pos in meantime??.

We all know BB has been looking for a new CEO for while now (as he's said before at presentations) who can take this further than just geology (he's not a cobalt expert) whats happening there?.

Look going slow and cutting costs till cobalt price is higher as announced makes sense to me (as I've posted about before) indeed I've been pushing for it. But the market needs more facts on the status of the metallurgy and the orebody and what will be being announced and when..

The fact is we have a huge strategic cobalt asset that is probably not going to be viable till at least USD 55-60,000 a ton IMO - which we all knew. We also have some people out there who have signed NDA's and are sniffing around who believe cobalt will sit at higher than 60,000 a ton long term. so We still have all that but for now cash burn is being reduced which is good.

So as I say let me try to find out more and then comment or it'll just me more speculation comments here. Its a case of figuring out the issue to try to help solve it rather than just blindly guessing or wingeing.

Expand

Thanks mate. An update from management for all the above would be much appreciated, and to be frank, I don't think it's too much to ask.

We are after all still shareholders of the company and are each owners of a small or larger slice of it. After an announcement like this it's the least they could do to help us make an educated decision on how we individually feel about this business decision.

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