XAO 0.99% 8,153.7 all ordinaries

CZL was initially an entry based on AT with the break of 1.6c...

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    CZL was initially an entry based on AT with the break of 1.6c signalling a pennant breakout with a 2.6c target, this is well underway and continues to move on solid volume, have added at the 1.8c pullback after doing a little more background on the FA
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    FA wise it looks like their mining operation is set to be a cash cow and by back of envelope calculations show that by as early at November 1.8c could well represent a P/E of 1. With most mining plays being valued at a P/E of 5 plus a target of 9.0c comes into play by January. I have assumed LME pricing for the value streams with a 90% recovery rate, 1.39 conversion rate to bring it back to AUD and 50c/lb of zinc C1 cost as per management guidance. With this in mind the move may well be in it's early stages CCzl workings.PNG
 
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