CZN 0.00% 0.6¢ corazon mining limited

So what can a new amigo expect? I'll tell you about the...

  1. 2,805 Posts.
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    So what can a new amigo expect? I'll tell you about the fundamentals and why I've invested big over the last year in CZN. Most importantly, I believe that the shareprice is ready for a rebound - my estimate is a 10 fold to 20 fold increase on today's shareprice. I'll give you some reaons why:

    1. CZN is an active exploration company - each quarter it spends more on exploration than on admin (just check the quarterly financials).
    2. The shareprice is hovering between 0.2c to 0.3c. Its market cap is only $4 to $6 million.
    3. CZN has just appointed a Chairman, Terry Streeter, who is a well-known developer of profitable nickel mines.
    4. CZN now controls the entire Lake Lynn mining camp in Canada. A brownfields mining operation an existing JORC (Indicated + Inferred Resources) of 15.3Mt @ 0.72% Ni, 0.34%Cu, 0.034% Co (0.5% Ni base cut). Plus there are many discoveries within the area which haven't been drilled enough to be incuded, yet.
    5. Cash of $1.2 million.
    6. About to start a new drilling campaign at Lake Lynn - the plan is to get underway before Christmas.
    7. CZN have started a mining study (6 weeks duration) which is a good step towards restarting the mine.
    8. CZN has developed an updated extraction process for the nickel/copper/cobalt. It is simple and efficient - producing separate concentrates for the three metals.
    9. Lynn Lake has been characterised as a large tonnage / low-cost producer of nickel and copper concentrates from its sulfide deposits. And the price for nickel is improving almost daily.
    10. At Lynn Lake the average plugs of metal (deposits) are usually 80m-120m strike and 30m-50m wide. Underground development is usually to approximately 1,100 metres below surface.
    11. CZN is now using a new Magnetic Vector Inversion (MVI) technology for processing old data to search for the drilling targets. They have shown it is an improvement at identifying mineralisation when compared with past data processingmethods. Their discovery of Fraser Lake complex was drilled in 2017 but they missed the plug. Instead they hit the sulfide plume and got about 50m fo 0.5% nickel. With the new technique they may well be able to strike the plug.

    IMO there are some more good reasons to buy CZN, particularly when you look at the chart and see the approaching golden cross. My estimate for the +10x increase in shareprice is based on the result of a good strike in the forth-coming drilling campaign. But I'll stop at that point. Yes, investing in CZN is a gamble, just like it is with any junior resource company. And do not hang on to any junior once you lose confidence in them. So, it is not for the faint-hearted. And as they say, do not gamble more than you can afford to lose. So if you don't like that sort of gamble, then don't do it. Good luck amigos.

 
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Last
0.6¢
Change
0.000(0.00%)
Mkt cap ! $3.673M
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0.0¢ 0.0¢ 0.0¢ $0 0

Buyers (Bids)

No. Vol. Price($)
6 2917194 0.5¢
 

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Price($) Vol. No.
0.6¢ 2788073 6
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Last trade - 16.12pm 19/07/2024 (20 minute delay) ?
CZN (ASX) Chart
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