Canada Zinc Metals has reported recently the number of solid results from its exploration program on Cardiac Creek Deposit. Chinese Copper and Zinc giant Tongling Non Ferrous holds a 36% stake in the company now and Canada Zinc has announced that PEA is ongoing on the project. Another significant shareholder in this emerging M&A story in Canada is Lundin Mining.
M&A Watch in Canada: Canada Zinc Metals: Drilling Intersects 14.54% Zinc + Lead over 8.5 metres in A-11-98 on the Cardiac Creek Deposit.
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2012-01-26 08:56 ET - In the News
The Financial Post reports in its Thursday, Jan. 26, edition that Lundin Mining aims to make an acquisition in 2012 valued at as much as $500-million (U.S.). A Bloomberg dispatch to the Post reports that chief executive officer Paul Conibear says: "We're looking at a few things that are non-public. ... I'd like to do something significant this year." In March, Lundin terminated an agreement to be acquired by Inmet Mining, while defending itself against a hostile bid from Equinox Minerals. Lundin began a process to consider "strategic alternatives" and said in May that offers received for all or part of the company were too low. The Equinox bid ended in April when the Australian company agreed to be acquired by Barrick Gold. Mr. Conibear was Lundin's senior vice-president of corporate development in May when he was appointed to become interim CEO to replace Phil Wright. The CEO appointment was made permanent in late October. Lundin says it will consider copper, zinc and nickel acquisitions in a range of $100-million (U.S.) to $500-million (U.S.). Mr. Conibear says one asset under consideration is family owned. He says, "We're looking off the beaten path."
Canada Zinc Metals is very well positioned now to participate in further consolidation in the industry, number of Zinc mines will be coming off line in the nearest future and the player, who can consolidate and unlock this region with Teck Resources and Korea Zinc holdings involved, will benefit the most.
We have a new report issued on Canada Zinc Metals.
China M&A in Canada: Canada Zinc Metals: Drilling Intersects 10.62% Zinc + Lead over 10.31 metres in A-11-93 on the Cardiac Creek Deposit
"Canada Zinc Metals has come out with another great exploration results, deposit has all chances to grow further. Stock was moving Up strongly from the recent lows couple of months ago fueled by this drill program expectations and constant rumours about Chinese consolidation. Chinese giant Tongling Nonferrous holds 36% in the company and the only question left is when they will move to increase their stake. Lundin Mining keeps all its options open with the strategic stake in the company - these two companies can easily make this Canadian region play into one of the largest Zinc and Lead mines in the world. We can talk about the magnitude of 100 million tons Zinc and Lead above 5% grade combined after consolidating the Korea Zinc and Teck Resources J/V property in the region. In our small interconnected world Canada Zinc Metals holds strategic stake in TNR Gold with its Lithium, Rare Earths and, now - Iron Ore projects. The most intriguing part is Los Azules litigation TNR Gold vs Minera Andes with more than Half of this "Big Copper deposit in Argentina" at stake now. One day, after Canada Zinc Metals acquisition, Chinese Tongling can be knocking together with TNR Gold on the Minera Andes and US Gold door after their merger.
We have a new report issued on Canada Zinc Metals.
Company has announced recently its shares buy back in the market - and it is almost like printing money for us. The latest financing was at 0.75CAD and now the stock is trading at 0.38CAD. Company was also granted an exploration permit for the underground drill works and now this promising deposit will enter in the resource definition stage at a much faster pace.
During this market we are looking for the solid value and the ideal special situations when we have the growing asset and the buyer for it. In case of this company we have both - growing deposit in the very important elephant scale deposit region due to consolidation and Chinese giant Tongling which is holding 36% of the company."
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