The geology says that NCZ should be good, but enough things go wrong that I suspect systemic incompetence.
Their waffle ("material" is redundant) indicates to me an image-substance imbalance. It would be stupid if I make a fuss about one word in one announcement, but they are consistent. Their communications staff/consultants are incompetent if they don't consider every word.
Otherwise, have you ever seen incompetent management spurn waffle?
I really want to hold these shares because the project and regional geology should be good, but I want better management. I do not want my investment diluted by a capital raising that does not increase the net present value* of my expected cashflows PER SHARE.
* at a required rate of return of 24%pa because I now value NCZ like a junior explorer.
NCZ Price at posting:
15.5¢ Sentiment: Hold Disclosure: Held
