I have exited my position in CZN after many years as a holder....

I have exited my position in CZN after many years as a holder. Like many here, I waited for this campaign to see if the south pipes would be the company makers we all hoped for. Based on the fact the company started drilling at the south pipe ~10 days ago, and they stated the pipe was chargeable from ~100m below surface, and they're remaining quiet, to me indicates the pipe is a duster. After 10 days they should have drilled beyond 100m in depth, so if they're remaining quiet, past behaviour indicates they're not seeing anything in the drill cores worth talking about; i.e. no massive sulphides. If they were seeing massive sulphides, they'd have to call a trading halt to prevent trading on that info. So for now, for me, it's about preserving cash and getting out before the news hits. If I'm wrong, then I've got the cash to buy back in, but if I'm right, this is more than likely going south quickly, much like the pipes that dashed all our dreams.

If the pipes turn out to be dusters, these guys will be the unluckiest explorers I've ever witnessed. After a decade at Lynn Lake, they would have to seriously reconsider spending any more money there. Even with their existing JORC resource, it would take a substantially higher Nickel price to make the project economical, as the deposits are scattered which means it's costlier to mine. In addition to all of this, the price of Nickel took a dive recently because a Chinese company that converts class 2 to class 1 Nickel announced they have accepted an order for 100,000 tonnes.

I haven't written CZN off completely, but in my opinion it's much wiser to watch from the sidelines at this point.