Consolidated Zinc ASX:CZL Stock Report

Consolidated Zinc Limited has completed a Follow-on Equity Offering in the amount of AUD 0.3 million.

Consolidated Zinc Limited has completed a Follow-on Equity Offering in the amount of AUD 0.3 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 12,000,000 Price\Range: AUD 0.025 Transaction Features: Subsequent Direct Listing

Consolidated Zinc Limited Updates on Annual Mineral Resource

Consolidated Zinc Limited announced that the resource reconciliation and Mineral Resource model for the Plomosas mine has been updated to incorporate the 2021 ore mined, the new areas identified as old workings and incorporating the new mineralised envelopes that better reflect the actual mineralisation. The resource estimate, independently completed by Ashmore Advisory Pty Ltd. ("ASH") in compliance with the JORC (2012) reporting guidelines, contains 986,000 tonnes @ 13.2% Zn and 3.7% Pb for 166,500 tonnes of contained metal in Indicated and Inferred categories. This estimate was after mining depletion during 2021 of 27,724 tonnes @ 17.4% zinc, 8.7% lead and 52.16g/t silver. The new model represents a 5% increase in tonnes after mining depletion over the 2021 resource model. Significantly this also includes an upgrade of the classification of Mineral Resources with the Indicated category increasing by 40% in tonnes, 43% zinc increase and 48% lead increase. The new model better represents the Plomosas mineralisation than the 2021 Mineral Resource estimate because it considers all grade control data from commencement of mining in 2018 to the end of 2021 During 2021 over 75% of ore mined was sourced from outside of the 2021 Mineral Resource Model demonstrating the need to incorporate all grade control information, drilling and exploration into a new interpretation of the Plomosas mineralisation. The good news is that the Mineral Resource has grown with the inclusion of the grade control data and mineralised envelopes. Key Information: Updated Mineral Resource estimate after mining depletion for Plomosas mine totals 986,000 tonnes @ 13.2% Zn and 3.7% Pb for 166,500 tonnes of contained metal in Indicated and Inferred categories. Represents a 5% increase in total tonnes and 40% increase in Indicated categories. New model developed to address the ore found outside of the previous mineral resource model.

No independent directors

No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Angela Mary Pankhurst was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.

Insider recently bought AU$122k worth of stock

On the 4th of April, Stephen Copulos bought around 3m shares on-market at roughly AU$0.041 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$234k more in shares than they have sold in the last 12 months.

Consolidated Zinc Limited has completed a Follow-on Equity Offering in the amount of AUD 1.25 million.