You've been using 27c per share as your valuation for some time now so good to see you are still about their with the PFS.
As I've said here many times, I am a mug punter and I keep it pretty simple and diversify my portfolio fairly widely and I'm generally happy to hold some stocks and speculate more on others. With CZI I've been able to benefit from the more detailed analysis of more experienced and knowledgeable heads. The three things that have justified my investment in CZI are:
1. Management track record. 2. Cost curve. The PFS confirms the project will be in bottom quartile of industry cost curve. Marginal cost of production is the only thing that matters in a commodity market in the long run. It determines which miners survive and which go to the wall during the bad times in the price cycle. The funny thing is that the reports for every prospective nickel project I read lately all seem to claim they are in the lower end of the industry cost curve. 3. Outlook for nickel and copper and where we are at in the price cycle. It is always better to invest at the bottom of the cycle than at the top.
That said, I'm too overweight CZI in my portfolio. I was hoping for a better response from the market to the PFS. It has been my intention to lighten my exposure to CZI post PFS as I have a habit of topping up on dips. It looks like the weak hands have been shaken out to a degree in the past few days. I sold a few shares just now - not many, because IMHO copper and nickel prices can only go up from here. I'll probably rebalance more portfolio a bit more over time and hold the remainder for the BFS.
I hope to still be around in 26 years time and a nice little divi might be useful then!
CZI Price at posting:
9.8¢ Sentiment: Hold Disclosure: Held
