OTCPK:CRZNF - Post by User
Post by
Fivefive5on Nov 15, 2006 11:48am
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Post# 11685008
PP and Purpose
PP and PurposeI am still stumped as to the purpose of the PP with all the cash in CZN account. Why would there be an increase from $10 million to $13 if there wasn't some insider info about future of CZN? Watching the SP fall 20% this week, those who have been bullish in zinc pushing zinc stock up over the past month are now full. I hope that there is some form of announcement to spend some of the $30 plus million CZN will hold in it's account. I believe there is to be continuation of their surface drilling program (supposed to be a 5-year plan, arggh)and that the completion of underground decline program will occur in the beginning of 2007, but that cost will be nominal. The only capital that would require the level of funding that CZN has raised, again at a price point well above the market price of CZN now, would be the improvement of mine and mill and construction of all-weather road to bring it into operation, estimated at a cap-ex ocf $40 million in 2001. All of us are waiting for that type of annoucement, not that shares are to diluted futher to put more cash on the pile with no plan for expenditures. With zinc at the price it is today there should be a push towards this plan. This mine has been in comtemplation for 25 years? Too long to map and count resources (still not at reserves), need to go to development stage soon.