Great post Prawn man, you have summed up the position very well,...

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Drill King

242 Posts.

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14/09/18

16:59

Post #: 35610917
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Originally posted by prawn_man ↑

There aren't many things worse on the ASX than watching the shareprice of your stock just dribble away. Especially when the fundamentals were good at the time you put your hard-earned into it. Oh sorry, there is one worse thing! Selling at a bottom and then watching it bounce through the roof. (And I am saying it from experience.) Yes, it is a cruel game, and not for the faint-hearted!

Relevance you ask? CZN is a specky and it is at the tipping point.
Can it go lower than 0.7 cents? Maybe. But some good drilling results at one of the new anomalies will change all that.
Has it got the best cobalt grades on the ASX? Yes (tell me a better one).
Is the mining and processing going to be relatively cheap and easy? Yes, maybe the best of all the Australian-based cobalt plays on the ASX.
Have the fundamentals changed in the last 6 months? Yes, it got better. The new geophysics & soil geochemistry are pointing the way to the next drill sites along trend.(Drilling is no longer flying blind.)
Are the recent drill results good? Yes, CZN has found the east and west extensions of Cobalt Ridge, and my estimate of the in-ground value of cobalt is US$150 million, & double that with copper credits (see posting above). And Cobalt Ridge is one part of the +18km of the trend, and the other sites have yet to be drilled.
Have the drill results been too slow? Yes, but all speckies on the ASX have the same issue.
Is the management a bunch of shadey no-goods? Maybe, but they can't be worse than the CEOs of bank and financials who are parading before the Royal Commissioner.

I could go on, but will stop. CZN said results will be ready soon ("Drilling program expected to be completed in the current quarter - see 27 Aug 2018"). My message is just a bit more patience, amigos.

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Great post Prawn man, you have summed up the position very well, Results should be back soon from the last rounds of drilling your estimate on tonnage value is very close good work on that.

CZN Price at posting: 0.7¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 0.9¢		Change 0.000(0.00%)		Mkt cap ! $5.54M

Open	High	Low	Value	Volume
0.9¢	0.9¢	0.9¢	$1.185K	131.6K

Buyers (Bids)

No.	Vol.	Price($)
2	784653	0.9¢

Sellers (Offers)

Price($)	Vol.	No.
1.0¢	400000	1

View Market Depth

No.	Vol.	Price($)
2	784653	0.009
17	2168410	0.008
6	1055264	0.007
3	1059990	0.006
5	2700000	0.005

Price($)	Vol.	No.
0.010	400000	1
0.011	800658	3
0.012	200000	1
0.013	186525	5
0.014	185000	1

Last trade - 13.59pm 06/05/2024 (20 minute delay)

CZN (ASX) Chart

Great post Prawn man, you have summed up the position very well,...

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