Corazon Mining Ltd T.CZN

Primary Symbol: CRZNF

Metals & Mining Industrial Metals & Minerals

Corazon Mining Limited is an Australia-based mineral resource and exploration company. The Company is an explorer advancing the Lynn Lake Nickel-Copper-Cobalt Sulfide Project in Manitoba, Canada, as well as the Mt Gilmore cobalt-copper-gold (Mt Gilmore) and Miriam nickel Sulfide projects (Miriam) in Australia. The Lynn Lake Nickel-Copper-Cobalt Sulfide Project is a significant Class-1 nickel resource. The Mt Gilmore Project is located 35 kilometers from the city of Grafton in north-eastern New South Wales. The Company owns an 80% interest in Mt Gilmore. Mt Gilmore is focused on multiple rare, cobalt-rich sulfide deposits, similar to Cobalt Ridge. The Miriam comprises five Prospecting License applications (P15/6135 to P15/6139 inclusive) and is located approximately 10 kilometers south-southwest of Coolgardie on an ultramafic trend, which hosts Auroch Minerals’ Miriam and Nepean Nickel Deposits.

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Corazon Mining Ltd > This really smells

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Post by bilarooon Dec 21, 2021 11:06am

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Post# 34250493

This really smells

So on Dec. 13 they announce the financing for ostensibly starting the phase 1 winter road, although they are careful to add that some of this money is earmarked for general corporate purposes.
No timeline on when construction will begin.
Exactly one week later on Dec. 20 they announce that surprise, surprise, the regulators didn't have time to evaluate and consult with each other on the companies management plans.
You can't tell me they didn't know. This stinks to high heaven.
I wouldn't be surprised if they wrote both press releases at the same time.
If they were serious about getting things done they would have had all the equipment and manpower sitting on go at the banks of the Liard River now frozen and ready to support heavy equipment crossing the ice bridge.
The regulators would of course have given them the green light for all of this.
RCF has members on the board and owns half the shares so you can't tell me they didn't know either.
So to my way of thinking this financing of $3.3 million was to keep the lights on for another year.
That it was for building the winter trail well, that was just a smoke screen.
I'm not surprised it's delayed. I would have been pleasantly surprised if they actually did something. If they actually put a shovel in the ground.
Im surprised at how creative they got at trying to shift the blame. They must have known.
I do agree with previous poster on his pipeline analogy however. That is exactly right.
And I agree with the company on the lack of clarity and transparency regarding the regulators.
They put out guidelines instead of clearly defined requirements and then say to the company, well nice try, but sorry that's not good enough, try again.
It's the reason why investment capital is leaving Canada in droves. Over regulation.
Pipeline companies have invested billions over decades to satisfy regulators, only to be told, sorry, not good enough, please try again.
They finally give up and cancel.
It's disgusting.
That's my rant for the day.