It's a project with lots of potential and could certainly be a lowest cost quartile operation when up and running.
It looks like they have $2.8m cash with the possibility of realising another c. $500k in September from the sale of equity investments (currently escrowed).
At the present burn rate this cash will last max. 6 months but it is likely management will address their working capital requirements well in advance (otherwise suffer having to bend over).
To me it means instead of investing now simply wait for the capital raising and see what happens to the SP. With current sentiment towards explorers/ developers I doubt that any of the anticipated catalysts will materially move the SP upwards from here prior to any capital raising and thus it is a low risk proposition to wait and watch.
Cheers John
CHZ Price at posting:
11.5¢ Sentiment: None Disclosure: Not Held
