The beauty for CZN is they still own 100% of Lynn Lake
Never underestimate the value of owning 100% of your deposit.
Sometimes it is better to take the dilution at stock level as they did and not lose 20% or 30% of your deposit for basement value.
Consider with this next drilling program, all it takes is a few holes carrying good nickel and copper grade and the book value of the deposit can skyrocket from $10M to $50M. Everyone saw what happened with LEG on the back of a single discovery hole.
CZN opted for 12.5% dilution at stock level and just a 12% discount. This really is a great achievement.
The 10 to 20% they may have farmed out for the same value in a bind, they may farm out for $10 to $20Miln in the next 3 months.
I know from locals at Leaf Lake closeby to where they are drilling that there is plenty of activity and people watching. PDAC generated a fair bit of local buzz. Vale are in the market for more resources and once they have worked their way through Thompson will be on CZN's doorstep.
Give it 3 months to play out and this could be 5c+
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Last
0.9¢ |
Change
-0.001(10.0%) |
Mkt cap ! $5.54M |
Open | High | Low | Value | Volume |
0.9¢ | 0.9¢ | 0.9¢ | $1.059K | 117.6K |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 882362 | 0.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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1.0¢ | 381000 | 3 |
View Market Depth
No. | Vol. | Price($) |
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1 | 882362 | 0.009 |
17 | 2168410 | 0.008 |
7 | 1430388 | 0.007 |
3 | 1059990 | 0.006 |
5 | 2700000 | 0.005 |
Price($) | Vol. | No. |
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0.010 | 381000 | 3 |
0.011 | 1111199 | 1 |
0.012 | 321013 | 3 |
0.013 | 186525 | 5 |
0.014 | 185000 | 1 |
Last trade - 11.05am 22/05/2024 (20 minute delay) ? |
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Last
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Change
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Open | High | Low | Volume | ||
0.9¢ | 0.9¢ | 0.9¢ | 182362 | ||
Last updated 11.05am 22/05/2024 ? |
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RDN
RAIDEN RESOURCES LIMITED
Dusko Ljubojevic, MD
Dusko Ljubojevic
MD
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