Just pulled this from a blogger - the underlining is a fellow investors - Can you wait 2 years?
I attended the Vancouver Resources show and talked to CZN staff. CZN plans to submit an updated project description to the MVLWB by the first week of February. The MVLWB is concurrently working on a work plan for moving the project forward. As a Class A water license is being applied for, there will be a mandated public hearing on the application. The holding of a public hearing agrees with my earlier discussions with MVLWB staff. I was informed that there has to be 60 days notice of a public hearing being held, and the Board has 30 days after end of the hearing to render a decision. CZN expects (hopes) to have a water license in hand by the end of 2012, if not before. With the regulatory phase going okay, CZN then expects to have a winter road in operation by January 2013, and equipment and supplies will be moved to Prairie Creek to refurbish the mine and equipment. Mining would begin in 2013. The first concentrate would move out during the winter road of January-March 2014. So, I think that a key factor is the timing of the public hearing this year. If it is scheduled relatively early this year, and there are no unanticipated surprises, then it seems likely that timelines can be met to have the winter road operational by January 2013, and the mine in operation later in the year. So, keep an eye on the work plan when it is available. I also think that when the water license is granted, CZN will have a larger profile with major mining companies, as there will only be execution risk to the project after that. CZN has the resources, and will enter a new phase in market valuation.
With the recent price rise in gold I see the value in Vatakoula kicking in and hopefully this will propel CZN share price higher instead of it sitting in the doldrums.