Of course I would have liked them to wait until the Permit is issued-presumably sometime over the next few weeks. They probably could have done a PP half that size to limit dilution, and then raised the other half they require after the Permit has been granted. Perhaps they are fairly confident of obtaining the Permit, and currently have only raised one half of their immediate short-term needs. I suppose it is an insurance policy in the unlikely event that the Permit either does not get granted, or is somewhat delayed and the SP then tanks, back down to $0.40.

I am still finding the junior investing climate somewhat incredulous these days, in that in the unlikely scenario CZN were to raise it's CAPEX costs soley via an equity offering, we would be at ~400million shares (assuming the SP increases and holds at $1.00 once the Permit news is released) despite the fact that we have mill faciliities that are nearly 90% complete! I pity the near-production stories that are beginning from scratch, and have to JV their projects to the tune of 40%, or 50% or even worse 51%.

Of course they will likely combine equity with streaming/forward selling or other financing options, and hopefully do it it a staged/tranched manner. I just hope that CZN doesn't do a streaming deal with a significant percentage of their silver production. Yes the outlook for zinc is reported bullish over the next few years (although I have also read articles purporting that there exists large stocks of Zn, warehoused in the southern US that could be "dumped" into the system), but I (and presumably many investors in CZN), are much more bullish regarding silver.

Cheers, Luker

p.s. I am also really bullish on Silver Bull Resources, and surprised that it hasn't started to move.Any thoughts there??