Well another month and further progress..... 10% higher development than Dec and an increase in production albeit a small increase but on target. If one considers the wastage total and considers that management expect to be into the higher grade ore over the coming months then we should be in for a bumper few months. I'm not too concerned about the momentary drop in price today to 1.7 as there was only about 100K worth of shares traded. This is not a huge amount and represents about half of 1% of our market cap. The vertical incline is underway and stoping continues.
Welcome aboard Froggy I believe you are well and truly ahead of the market..... These are my calculations and even allowing for dilution in relation to performance shares to BM, SC & AR's the share price looks pretty good on a conservative model. By the middle to end of the year I feel we can achieve 10 cents or more given that I have only used a P/E of x5 and a recovery of 12% Zn. I have also tried to use conservative Zinc price and exchange rate as well as inflate C3 costs until the vertical shaft is commissioned.
Good times ahead especially if the metrics remain or improve. Patience is the key with this stock.........
GLTAH Cheers Rb
CZL Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held
