From the horses mouth :), page-47

The beauty for CZN is they still own 100% of Lynn Lake

Never underestimate the value of owning 100% of your deposit.

Sometimes it is better to take the dilution at stock level as they did and not lose 20% or 30% of your deposit for basement value.

Consider with this next drilling program, all it takes is a few holes carrying good nickel and copper grade and the book value of the deposit can skyrocket from $10M to $50M. Everyone saw what happened with LEG on the back of a single discovery hole.

CZN opted for 12.5% dilution at stock level and just a 12% discount. This really is a great achievement.

The 10 to 20% they may have farmed out for the same value in a bind, they may farm out for $10 to $20Miln in the next 3 months.

I know from locals at Leaf Lake closeby to where they are drilling that there is plenty of activity and people watching. PDAC generated a fair bit of local buzz. Vale are in the market for more resources and once they have worked their way through Thompson will be on CZN's doorstep.

Give it 3 months to play out and this could be 5c+