CZN

9.09%

0.5¢ corazon mining limited

takeover target for vale, page-111

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roblolioa

204 Posts.

149

31/01/20

13:16

Post #: 42671346
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Originally posted by FastSell: ↑

If any holders here are following the nickel space, the recent hostile takeover attempt by IGO for PAN shows just how undervalued CZN's Lynn Lake asset is. PAN has a sulphide nickel deposit in WA with a total resource of 218,300 tonnes nickel, 99,100 tonnes copper and 14,900 tonnes cobalt, so about twice CZN's 116,800 tonnes nickel, 54,300 tonnes copper, 5,300 tonnes cobalt. IGO's takeover offer valued PAN's asset at ~$400M, but PAN advised shareholders that valuation was low and to reject the offer. The takeover fell through, and PAN's share price has subsequently fallen, they now have a market cap just over $200M.

Given CZN's current share price, you can see how artificially low it is compared to many other similar deposits. Based on PAN's resource, CZN should have a value of ~$100M for Lynn Lake alone, or ~$0.05c per share. Remember CZN have drilling data for numerous other deposits at Lynn Lake which are yet to be collated in to the JORC, so the scope here for a JORC increase without any further drilling is pending.

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Between Lynn Lake and Fraser Lake once they are drilled out CZN might have 200k to 300k nickel resource all open pittable some say
That is going to be worth well over $100 or $200Miln in a few years
Management can light a firework under the shareprice by announcing next drill date
Or that joint venture speculation with Vale if that comes true is a fast track to 2cps overnight

CZN Price at posting: 0.5¢ Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

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(20min delay)
Last 0.5¢		Change -0.001(9.09%)		Mkt cap ! $3.339M

Open	High	Low	Value	Volume
0.5¢	0.5¢	0.5¢	$75	15K

Buyers (Bids)

No.	Vol.	Price($)
9	5048837	0.5¢

Sellers (Offers)

Price($)	Vol.	No.
0.6¢	231496	2

View Market Depth

No.	Vol.	Price($)
9	5048837	0.005
24	9555259	0.004
12	6970332	0.003
7	9801000	0.002
8	14800024	0.001

Price($)	Vol.	No.
0.006	231496	2
0.007	2927797	10
0.008	1834480	8
0.009	500000	1
0.010	149999	1

Last trade - 10.08am 01/11/2024 (20 minute delay)

CZN (ASX) Chart

takeover target for vale, page-111

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takeover target for vale, page-111

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