What's everybody's thoughts on the Investor Update? I suppose the biggest disappointment is the JORC being put back until June sometime, and production until Jan-March 2017!!!
In saying that is this because they have found multiple resources(which they have) and they want to continue drilling to get a good overview on what size resource actually exists, or are they scrapping the barrel because they are falling short of resource and need to keep drilling to post a half decent JORC?
I have my own opinion on this and I am guided somewhat by 3 things. Stephen Copulos (Chairman and biggest SH) has some serious money involved in this, and he continues to lend money to CZL The fact that CZL have borrowed money to complete the extended drilling (why would you do this if the resource is average), and are quite sometime behind their initial timeline (which upsets SH).
All IMO of course, and would be interested to hear other SH thoughts
What's everybody's thoughts on the Investor Update? I suppose...
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