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Can I ask what an average holding is on this one? I reckon there are only 10m shares in public hands.
just found this on there website - To take advantage of recent metal prices, the company is also considering the processing and sale of pre-concentrates in the short term. How long has that been on there?
First zzl need to change their name to Creat Resources Holdings but that should happen very quickly. however, I would think that the potential transactions we happen fairly quickly as they have to pay back the first installment in 3 months and also commod prices are rising fast so that will aleveate some of the distress on the miners.
Do anyone know if ZZL's exploration is fixed or would they reopen mines if prices recover enough? I haven't so far found anything and with Zinc prices for example back to the level of last Sept I was wondering if they might use some of their cash balance to restart production again.
I have posted a statement on PDF board regarding the imposters. Thanks for notifying me of them.
Yes, zzl will change their name to Creat Resources Holdings Limited. It is one the resolutions that was voted on in the EGM
Undoubtedly they have targets in mind. I'm not a company chairman but I wouldn't loan the amount they have without a fairly large degree of certainty of bagging another company before approaching a bank to loan the cash. I think that they know exactly who they are going after and have done some due diligence as well. Also consider this, it takes approximately 60 days from the expression of interest to the posting of an offer document in a takeover. They have a little over 90 days before they have to pay the first installment that will put cost them $4m plus the costs they spend on their current exploration programme. The sooner they move the more money they have at their disposal.
With 30m burning a hole in their pocket and the first payment due in 3 months should be an interesting few weeks coming up. I think that they having be eyeing up some targets already and with the money in place now they will come out hard and fast. Creat could easily using the cash to buy out the remaining shares if they want as well. 30 percent at current market cap is only 1,2m quid.
http://www.investegate.co.uk/Article.aspx?id=200907310700076279W
I'm not sure about the loan affect on the market cap but Creat stamping their name on zzl might help it a bit. However, I think that an acquistition may increase the market cap if they acquire an up and running asset. I agree that this isn't for a risk adverse investor but the AIM isn't safe place either at the moment. I'm still kicking myself for not going for ACU when they had their financing deal in May so I'm not missing my chance here. How did you find buying the shares? I had to neg trade and wait
I agree especially since they are also going to continue their exploration activities. I would guess from the RNS they would be looking for a gold miner but where and what exchange would be anyone's guess. Also considering they have to pay back in 3 month installments I would also guess they have the target or targets already lined up. They need to hit fast and hard. The reason I say gold miner is that it the only addition to the mining material they already have resources for and so I would guess either a Sydney or Hong Kong exchange miner rather than LSE. MB11 I think they are fairly quick but Creat have such a holding that voting will be a formality anyway.
The jump was due to Creat buying 70% to refloat the finances of zzl and upto the last announcement of the EGM they have been a small Tasmainian mining company that shut it's two mines and went into exploration. With the loan they can continue exploring as well as acquire other distressed miners on the cheap. The more significant changes strategically are the name change (Creat putting their mark visibly) as well as the other changes to advisors etc. Creat are really getting a hold on zzl
That's why Creat Financial Group are into this. Seems to be some heavy Chinese backing or Raissen wouldn't agree to the deal.
70% owned by Creat Financial Holdings of China. The loan is coming from Raissen Bank (Hong Kong) and as Wodster said fasten your seatbelts. I got into this in Jan at 0.8p and saw it jump to 3.2p. I think that this is another part of the puzzle that Creat are building. Fatten the turkey before Christmas with a couple of strategic takeovers, in particular the new addition to the list of Gold. Then in a while take the lot lock, stock and barrel
Next week is the EGM to vote for a 30m loan to go shopping and a name change to Crreat Resources Holdings. Shares in this a tight. I had to buy 11.5K through negotiated trade!!!!
I got in last friday. Just sitting and waiting for the rise next week. I have a lot of work to do this week because of my girlfriend's dad's 70th is on Sunday and I'm cooking for I don't know how many people. A proper chef job :)
http://www.investegate.co.uk/Article.aspx?id=200907010700027955U delayed financial accounts
I had a good win on this in Jan. when I dipped out of MEC for a day. BTW the last transaction is buy not sell. It was my buy. How is the Czech coming on?
I'm in. I read it as $30m to go shopping for distressed miners