Worth making some comparisons with regard to peer listed ASX...

Worth making some comparisons with regard to peer listed ASX zinc juniors with similar sized resources and development timeframes:

RVR - $28m market cap
EMX - $27m market cap
MZN - $10m market cap
CZL - $11m market cap

I would consider CZL to be far more advanced than MZN as they are yet to begin drilling at their Wolf prospect near Newman. To date CZL have completed over 4967m of drilling at Plomosas with this work being ongoing and further results pending.

Due to the high grade nature of CZL's deposit, it is likely that the reported zinc resource will be significantly higher than either of those delineated by RVR and EMX. EMX recently reported a JORC compliant resource of 238,000t of contained zinc at it's Gorno project in Italy, and initial reports from RVR at it's Thalanga project indicate a resource approaching 160,000t of contained zinc metal.

CZL have a stated exploration target of 3mt at a very conservative grade of 12% zinc (drilling results would indicate that the figure is closer to 20%) for 360,000t of contained zinc.

Based on the above, I would consider CZL grossly undervalued in relation to it's peers, with the upcoming JORC a significant catalyst for a substantial rerate. I welcome anyone to critique the above should they have differing views on this.

Jethro