Was out of reach last week so slow to catch up on this, and meanwhile looking more like 17 cps plus Caspin, so perhaps 19 or 20 cents all up? Looks quite good to me as a recent CZI holder (who bought over the past year). I came into CZI after watching for several years as a LT OZL holder, noting OZL’s keenness and concurring that they could make the project fly.
So for me very happy to effectively get a 40% boos to my OZL holding at a very good entry price, having an average CZI entry around 9 cent. Imho a very good outcome for both parties and a fair price. Really need a bit more improvement in the nickel price to make the project really attractive imho, and in a COVID world it is hard to count on when that will happen. It will be easier for OZL to be bold with an FID if appropriate than for a small cap like CZI, esp. assuming OZL may be able to fund from cashflow if it doesn’t have a better project to plough future CF into.
I will need to decide whether to hold Caspin or not, but plenty of time to decide that. I may also need to consider that I may end up with slightly more OZL weighting than I am comfortable with long term.
This wasn’t my expected outcome, but very happy with it, both as an OZL holder and as a CZI holder.
EL
CZI Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
