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Corazon Mining Ltd T.CZN


Primary Symbol: CRZNF

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.


OTCPK:CRZNF - Post by User

Comment by bilarooon Nov 06, 2019 1:52pm
124 Views
Post# 30316792

RE:RE:RE:RE:Special Shareholder Meeting Nov 18

RE:RE:RE:RE:Special Shareholder Meeting Nov 18

I'm a little more pessimistic. I don't assume that financing for the first stage of the ASR is waiting for permit approval. It would be nice if I was wrong.

What I see, is the $6 million dollar interim loan, is being put out there as insurance that there are sufficient funds to get them through the permitting process, BUT, only if it is needed.
It's a bridge loan to buy them time, until the $8 million for 1% royalty receives shareholder approval and is closed.
if they don't use any of the bridge loan, no problem. If they do, it will be paid back plus interest, from the $8 million they get from the royalty.

If the permits are final within the next few weeks, AND they receive financing at or around the same time, they can start building in Q1 of 2020.
If no financing, then another year will be lost.

If that becomes the case, then the $8 million, or what's left of it, is all they will have to get them through another year of kicking the can.

As stated, it would be nice if I was wrong, and financing is waiting in the wings.

bil

 


 

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