short term trading - week starting 19th august, page-23

Today saw some panic selling of CZI. The stock closed at 9.9c, slightly below a recent capital raising price, and 30% below the price two weeks ago (14c).

Why? About 2 weeks into an RC drilling programme that should now be complete, but no announcement as to whether nickel sulphide mineralisation has been found.

Management has previously told a HC poster that it will have a hand held XRF device on-site for it's own curiosity, but will not use it for announcements because they are not reliable.

I believe that because there are no nice core samples to photograph anyway (as it is RC not diamond drilling), and management don't want to announce XRF results (ala RXL and get them wrong), then the lack of announcement means nothing at all. They will wait for the assay results when the facts can be stated.

Crimsoncarp already has CZI as a FA tip, and I'll conclude by saying that the risk / reward of CZI has improved because you can buy the same risk for 30% less now.