Zeehan Zinc Share Discussion Threads

[8trader] 06/1/2009 11:56

:-))

You could not get that more wrong, i actually enjoy putting the pump and
dumpers in their place, always a pleasure to post the real facts rather than
the lies they post.

[fairdeal2008] 06/1/2009 11:45

Heck this has attracted the Rampfinder General himself....

Hi 8T

See Treacle is winding you up on NSAM - he is persistent no?

[devlin78] 06/1/2009 11:43

no.3v1 here now fairdeal

[fairdeal2008] 06/1/2009 11:43

devlin are you ramping :-)

[devlin78] 06/1/2009 11:41

tnx fairdeal get ready for idiots too appear saying im ramping.when it hits pennies.take a look .CENTROM/CET risen for 3 days on no buys.

[monis] 06/1/2009 11:40

If they didn't think it was worth 8p plus (their average) they would have walked away before investing anymore imo.

[fairdeal2008] 06/1/2009 11:38

Oh I think when they get to the point where they have proven the resource (to themselves not necessarily JORC standards etc) then any buyout will be interesting. They will pay what they need to pay. And with 70% they dont have to acquire very much to get the whole lot, so yes, you have picked a potential cracker here...well done

imho

[fairdeal2008] 06/1/2009 11:37

I guess this will move with transactions. Buys will drive the price quickly up and sells down. The low liquidity will create this environment. Price guesses are always wrong ( and even more difficult to be close today). But I think with a few more people interested this could move to the 2-3p bracket before settlingg around 1.5p.

All useless speculation of course but interesting fun.

[devlin78] 06/1/2009 11:37

possibly fairdeal but an offer would be 20x current sp

[fairdeal2008] 06/1/2009 11:35

dont think they operate like that devlin. My experience of the Chinese on Mining and Expo is that they are focused on the resource, not minor issues like share price They have identified something they are interested in here (evidently the Nickel given the change of focus) and they will will push hard to determine what is in the ground.

If they want to buy the asset outright (or the company for that matter) they will, for now its just easier to grab a large share (downside is 70% does tend to reduce liquidity somewhat ... and hence I expect quite volatile price movements)
imho

[devlin78] 06/1/2009 11:31

fairdeal creat paid 15p for these and then 1p in the placing.they will buy in the open mkt simply as its a snip and too support the price.

[fairdeal2008] 06/1/2009 11:27

Well I expected a move up but another 15% in ten minutes was a little earlier than expected. I think this stock might be quite a little find. Still can only buy 50,000 online so have to place limit orders.

Devlin - it seems you are getting the progress you were looking for

[fairdeal2008] 06/1/2009 11:08

Have bought a few today. This is an interesting company with some attractive ground. But the market currently discounts this in the price. Still in shock I think waiting for the company to go banko. But with the £3mn cash received from Creat and with them now holding 70% it should start to liven up a bit.

There doesnt appear to be a lot of stock about. I cant get 100,000 online and had to submit a limit order for just 150,000.

I guess the PI holding here is a tiny % of the company and hence movements in price could be quite volatile.

As I posted on the other thread, personally I think around 1.5p is about where you would expect the price to be. But the market has this at 0.35p at the moment, who knows where it will be in a few days....

imho

[devlin78] 06/1/2009 10:02

kiruna lets hope minesite get an interview soon.pi,s seeing how undervalued this is volume picking up.should get above the 1p placing pretty quick as creat paid 15p and hold about 80%+ now.

[fairdeal2008] 06/1/2009 10:02

Well market cap is realistically (as can buy below offer) around £1.5mn and they have just received cash from a major investor of £3mn, so valued around half the cash injection.

Its just an anomoloy that will get correct shortly no doubt. Would have thought share price around 1.5p is about right given the substantial Chinese interests. These guys will make this little company work very well imho.

[devlin78] 06/1/2009 09:56

ab august rns 5-6 months drilling

[andrbea] 06/1/2009 08:54

how can you say nickel results, devlin?
they only have 'plans' to mine nickel

Do agree though that the parcels of land that zzl own, not far from or adjacent (geologically) to the Avebury (proven nickel) mine, must make them of interest to Avebury's owner (OZ) who may wish to JV with zzl's new owners, the Chinese.

nia dyor

[devlin78] 06/1/2009 08:06

fantastic find kiruna.yes chinese onboard at 15p and 1p.nickle results due

[kiruna] 05/1/2009 18:08

December 31, 2008

Zeehan Zinc Now Controlled By Chinese Who Have Switched Metal Target


Charles Wyatt



A little bit of good news to end off 2008 ... and we certainly all need some. AIM listd Zeehan Zinc has received the sum of just over £3 million from the Chinese company Creat Group, in accordance with a share subscription agreed between the two companies signed on November 10th. At the time it was agreed that this payment would be made within 25 days of the Zeehan Zinc AGM and the new shares would be issued as soon as the money was received. Well the AGM took place on November 14th so the money was actually received 47 days later which must have caused some sweating among Zeehan shareholders over Christmas. The hope that they could hang onto at the time was that Creat Group, represented on the company board by Yuewhen Zheng as chairman and non-executive director and Xiaojian Ren as managing director and acting chief executive, had been a bit slow earlier in the year in paying up for its convertible loan agreement as a result of which it already had a holding of 6.2 per cent in Zeehan.
Now Creat Group is in the driving seat good and proper with a shareholding of 70 per cent and it is going to direct over £2 million of this money into an exploration plan and budget focusing on nickel and the rest into meeting expenses and outstanding liabilities. Judging from the qualifications applied by its auditors to the accounts for the year to end June 2008 this will merit a bit of discussion. The auditors claim they were not provided with information to support the directors' decision to impair mine properties and plant and equipment by A$11,706,998 and were unable to satisfy themselves as to the recoverable amount calculated by the directors for mine properties and plant & equipment as at 30 June 2008. That will now be a matter between the auditors and Creat Group and everyone knows who is paying the bills.

The other interesting thing about Zeehan Zinc is that it now appears to be zinc no longer. When Minesite last wrote about the company back in the summer zinc was still the target metal, though the two main polymetallic deposits near Zeehan on the west coast of Tasmania were also prospective for silver and lead. Comstock was the biggest with 4.7 million tonnes grading 5.7% zinc in the inferred category and the early plan was to truck the ore to a local flotation plant for concentration according to Shane Bartel who was operating officer at the time.

He has since been displaced by the Chinese and this adds to the difficulty of making contact over the Christmas/New Year holidays. Unlike the puff-puff brigade Minesite writers like to talk to leading executives to get a proper background to operations in each company. This has not been possible, but every effort will be made in the New Year to make contact as there are still a number of UK minority shareholders as well as Aussies. By that time, hopefully, the company website will have been brought up to date.

Mention was made in the last article that Zeehan did have a nickel exploration programme in hand, stimulated by the Avebury nickel mine which was near Comsstock. Allegiance Mining, owner of Avebury, reckoned that it had potential to become a new nickel province so the fact that Zeehan has several hundred square kilometres of tenements in the area puts it in an interesting position. The Chinese have clearly been persuaded and have now put real money down to start work on it.

Existing shareholders may niggle that they have been heavily diluted, but they should bear in mind that the first tranche of Creat Group's shareholding was acquired at 15p per share compared with 1p for the recent one. Anyway the company is still alive; it is in good hands; and if the Chinese use Zeehan for some acquisitions they could be in for an exciting time. First they will have to get used to a new name and a new metal target.

[malkie] 02/1/2009 14:40

ok - whats the catch?

[devlin78] 02/1/2009 11:54

wont take much buying too get it above 1p placing with nickle results now due.

[devlin78] 02/1/2009 11:51

hope creat buy in the mkt sub 1p.

[devlin78] 02/1/2009 11:50

1st buy of the new year plenty too come before we hit the placing price.1p placing