The problem for CZL is the same problem for all small cap...

The problem for CZL is the same problem for all small cap Companies with no income, little cash and considerable spending going forward...dilution..and it comes in many forms , some effect shares on issue others effect future income, be it through equity, WI , debt, offtake deals or a combination of all four...you can't continue exploring, buy out more WI , built a 250000 TPA processing plant with a little over a million in the bank and expect things to remain as they are...

On the positive side it has no debt as yet and a qualit assets....

How that pans out is something for the future ,so I will continue to monitor from the sidelines untill resolving some of those issues become more obvious...

Many Companies have faced similar challenges and gone on to thrive and many haven't, which is why they are called Spec stocks ,if treated as such can make for very interesting and sometimes very rewarding investments..

Cheers Whisky