*Undiluted market cap at 1.4c:
860,768,164 shares on issue * 1.4c = $12m
Total = $12m
*Per latest appendix 3B
*Cash:
Cash: $2m
*Per latest appendix 4C for Q3 less expected outflows for Q4 + CR proceeds
EV (at 1.4c):
$12m - $2m
= $10m
Considering the following a $10m EV looks enticing:
- Zinc price is breaking out to multi year highs. CZL has seriously high grade zinc for the cheap MC.
- Some of the bigger zinc'ers on the ASX beginning to heat up (RVR, HRR etc.). Watch for money flow into the micros soon.
- 70 hole drill program currently underway. 2 holes have already hit massive sulphide mineralisation. With most stale holders out this will fly on any decent news from drilling.
- Chart is right at its lows (1.3c looks like support), beginning to find a base and ready to break out to the upside. Zinc price at multi year highs and CZL at the lows = opportunity).
- Loads of stale long-term holders currently selling on market (along with some CR participants). New holders getting set at the lows ready for the run up once the volumes have been churned.
- CR is complete at 1.2c (and most hated it which gives an opportunity for us new holders looking for an entry near CR level)
Look like a good risk/reward play to me.
CZL Price at posting:
1.4¢ Sentiment: Buy Disclosure: Held
