OTCPK:CRZNF - Post by User
Post by
CoastalTraderon Oct 15, 2020 6:08pm
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Post# 31725553
minedriller & bilaroo
minedriller & bilarooI was about to build a position in NCZ and was just getting started - just under a 100K. Just picking away at it. But I do not like the way the sharestructure is evolving. Highly dilutive and no sign of immediate progress in relation to actual production.
There is no way around the dilution factor. NCZ needs working capital to proceed. They have no other choice. Don Macdonald seem like the right man to execute the programs as now planned. But get it moving !
The RO triggered my decision. I sold off my position over a few days - putting my 'sells' on the offer and not whacking bids. I hate it when inexperienced morons panic and do that.
I still think Nor Zinc has very interesting and positive potential, but I will do a lot more research before I step back in. I don't mind being patient if I have confidence in a project, but I absolutley refuse to become a frustrated bagholder. Bin-dare-dun-dat and those days are gone.
And we are back again to Opportunity Costs = Time equals money and the potential opportunities to grow your portflio value."
I'll leave you with a positive observation:
Upon completion of the Rights Offering, RCF will have a huge percentage of the common shares = lower number of shares available for trading in the public float. Even better if they do a 10 or 15:1 consolidation which I think they should seriously consider doing next year.
I appreciate your posts and the insights.
C.T.