The other thing to remember also is that Coronavirus is just taking the froth out of the market
The DOW ran from 24K to 30K in record time but during that period CZN didn't move.
So when the DOW gets sold down just as quick I really don't expect anything to happen to CZN. It didn't run to a crazy valuation, and currently it is that cheap it can't get much cheaper.
$5.7Mil market cap, $1.1Miln cash, own 100% of Lynn Lake
I then ask myself if CZN are able to intercept similar grade again, what is this worth on a peer comparison. SGQ are worth $30Miln, LEG are worth $175Miln and that is after huge market sell offs. CZN then could potentially go up 6 to 30 times even in this depressed market.
People should realise all that happens in this sell off is the froth gets sold off lofty stocks. Then it's down to selection. Normally all resource stocks will have some rally on drill results, whereas now it is only good results being rewarded (like TSO going up 300%).
CZN is in a great position that it doesnt have to raise money and will be actively drilling for the next few months. It offers somewhat a safe haven for speculative cash I think
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Last
0.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $3.339M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
16 | 3467825 | 0.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.5¢ | 709994 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
16 | 3467825 | 0.004 |
15 | 8873998 | 0.003 |
7 | 9801000 | 0.002 |
7 | 15300004 | 0.001 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.005 | 709994 | 3 |
0.006 | 3205129 | 7 |
0.007 | 2292441 | 7 |
0.008 | 591129 | 3 |
0.009 | 856000 | 2 |
Last trade - 16.16pm 23/08/2024 (20 minute delay) ? |
CZN (ASX) Chart |
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