Having a few holes 4-6m and ending in mineralization recently at circa 30% Zn still good.
Historical production here at 15.3% Zn + 80gt Ag (Silver) credits.
Been quietly accumulating CZL
Rundown
Cap $13.3m @ 4.6c
Cash $6.6m
EV $6.7m
SOI : 290m
51% of project, moving to 80% for $750k cash + $1.7m shares (some dilution)
Plant capable of being upgraded for US$900k to achieve 75,000tpa
Cashflows to fund ops could be less than a year away
Long Mining Licence
Upside is
more drilling news is expected soon, + a feasibility study and
upgraded JORC
I like the low admin, under $200k next Q, with more than 80% of spend going to drillbit.
I like the cash position, raise is done.
I like the v low EV
Finally, I like tonight's Zinc price