Interesting questions - Doubt I can provide definitive answers...

Interesting questions - Doubt I can provide definitive answers but will put out some thoughts (mostly from memory and imagination so treat with care).
I note Arsenic's cross post which covers aspects of what is a large topic well.  Since I had begun this, will post anyway.

Why isn't Mt Squires in WMP?

• OZL's interest was most likely in a large indicated Cu/Ni project at N-B (Nebo-Babel) and the "camp" related similar regional deposits
• Mt Squires is probably a bit too early in the exploration cycle for OZL and may have added to cost of deal??
• wrong commodity with gold only??
• in what is possibly a different geological environment to OTH/N-B/Succouth etc
• maybe corporate reasons so CZI had some ground for exploration at 100%
• Processing circuit at N-B would likely make sense if exploration is successful but doesn't produce a stand alone Au prospect or some left field discovery on what is a large relatively unexplored piece of ground.
• add other possibilities.

Succouth

• Probably much as you suggest+ Arsenic's comments
• The current resource needs a lot of money to bring it up to a mine if that is ever going to happen.
• Part of the OZL/CZI agreement was for an $8M spend on exploration and drilling outside N-B.
• Part of these funds will be expended on Succouth.  
• Other known prospects Yappsu, OTH (One Tree Hill) and  Babylon? have seen funds spent and announced but there may be other work that is ongoing.
• Another possible outcome of N-B development may be the synergy new infrastructure (roads, ideas etc) in developing MLX's Wingellina Ni Co laterite deposit some 120Kms to the  east 

CZI market cap?
CZI is like many companies on the market today - Asset rich and cash poor with the assets stranded for complex reasons and not reflected in MC.

A bit easier to understand for CZI because their main N-B asset is located beyond the black stump and needs more than a few pennies to get off the ground.  Road/Rail is more than what the crow flies!  The amount of dusty road is being reduced with 100+- kms of bitumen being extended to the east of Laverton ?this year.




Having OZL as a partner is a real plus IMO as they seem to be good to the juniors they use to bring projects into their sphere.  Have no doubt it will be in their best interest to be "good" but it becomes a win-win.

Access to capital today is so much tighter than a decade ago and this IMO is impacting on all companies these days.  Combine that with the difficulty of finding new, large deposits and the whole mining/exploration industry is perceived (is) to be in crisis.  OZL's approach to this is one suggested in the paper from Exploration Insights useful data base.

seg_r__sillitoe_article_oct_-_2010.pdf

The orphan stage between exploration and possible mine development is also a well known reducer of MC.  Maybe this period is close to being over with the PFS getting closer.


Ozblue's posts on CZI pre ?2018 (may need a lot of searching now unfortunately) are worth looking at among many others.