Comments from the presentation.
-Holdup resulting in the suspension was because ASIC don’t want inferred (less than 40%) certainty resources included in mine life. thus mine life stated as 8 years when they think it will be 15 + especially including Succoth.
That makes not the NPV the man criteria but pay-back time important they stated 3-4 years.
- they have the $1.9 m payment it is CZI corporate money can be used for exploration 9or not). The plan is to use $8m on exploration to increase certainly and resources at WMP.
- OZ are not expected to take- over they are happy to get to 70% on their cheap equity spend. Nebo- Babel extensions (conductors see slide) and OTH are key elements in that. One Tree Hill expl’n holes 1st (P.B.) Expect steady release of information flow over year.
- J Hrosnsky - also working on Succoth. Nebo- Babel extensions (BW3) conductor and they only hit the edges of a big conductor plate not sure which way OTH really sits (CZD0017). they think there’s could be a lot more there see slides.
- the whole trend is 40 KM with Succoth in the north and OTH in the south. Yappsu also further prospective.
- no other takeover- expected though (Mike Young joked he would like one).
- wind power possible as extra energy reduction. They are putting up a wind mast to get data.
- they don’t really need more fund to progress West Arunta and Mt squires. the exploration is low cost. Plus with West Arunta they get an EIS (Exploration Incentive Grant ) 1: 1 so if they spend $150 K they can send another govt 150K.
Richard Bevan was really nice came straight up to me and talked to me as a shareholder he need to know plus remembered my name at the end of the Session.
I couldn’t identify Ozblue. The representative from CMA took off before I could buttonhole him. The man from OZL had no problems to voice. Actually RB & MY say OZL just want CZI to show them how to become nickel miners (form CU miners). There will be an orderly handover when they get to 51%. OZL don’t want to do the raw exploration they want to farm it out to small explores. Besides if they take-over the first small miner they JV with then they’ll mess their nest for others.
No weaknesses identified. I want to buy some for my son. It’ll be a long road and RB doesn’t seem to care if the SP jerks around a bit. He doesn’t look at HC but was happy enough to answer my questions on your behalf.
That plus the slides plus what posted before should be enough for you guys for now.
Sorry for chopping around so much my head was spinning (with $signs too).