Agoracom: Small Cap Investment - NorZinc Ltd. - Re: Canadian Zinc and Messina Minerals Announce Agreement on Proposed Acquisition an

High-grade Silver, Zinc, and Lead Advanced stage of development Prairie Creek Mine-NWT

Largest Shareholder Vatukoula Gold Mine (680,000 oz Reserves, 4.3 million oz Resource)

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Canadian Zinc and Messina Minerals Announce Agreement on Proposed Acquisition an

luker

Sep 12, 2013 07:21AM

Re: Canadian Zinc and Messina Minerals Announce Agreement on Proposed Acquisition an

Panamax

Sep 12, 2013 03:08PM

luker

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Re: Canadian Zinc and Messina Minerals Announce Agreement on Proposed Acquisition an

in response to

Re: Canadian Zinc and Messina Minerals Announce Agreement on Proposed Acquisition an

Panamax

posted on Sep 12, 2013 08:01PM

yes it sounds high at first glance...but I looked at their Indicated Resource only (1.77 million tonnes) and a quick Kitco Rocks in the Box calculation yields an in situ value of ~ US$640 million at today"s metal prices...Given that we only paid ~$1.5 million, (0.2% of in situ value)..I"d say that we still got a pretty nice deal despite the generous premium offered.

Cheers, luker

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Re: Canadian Zinc and Messina Minerals Announce Agreement on Proposed Acquisition an