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Corazon Mining Ltd T.CZN


Primary Symbol: CRZNF

Corazon Mining Limited is an Australia-based mineral resource and exploration company. The Company is an explorer advancing the Lynn Lake Nickel-Copper-Cobalt Sulfide Project in Manitoba, Canada, as well as the Mt Gilmore cobalt-copper-gold (Mt Gilmore) and Miriam nickel Sulfide projects (Miriam) in Australia. The Lynn Lake Nickel-Copper-Cobalt Sulfide Project is a significant Class-1 nickel resource. The Mt Gilmore Project is located 35 kilometers from the city of Grafton in north-eastern New South Wales. The Company owns an 80% interest in Mt Gilmore. Mt Gilmore is focused on multiple rare, cobalt-rich sulfide deposits, similar to Cobalt Ridge. The Miriam comprises five Prospecting License applications (P15/6135 to P15/6139 inclusive) and is located approximately 10 kilometers south-southwest of Coolgardie on an ultramafic trend, which hosts Auroch Minerals’ Miriam and Nepean Nickel Deposits.


OTCPK:CRZNF - Post by User

Bullboard Posts
Comment by johnathamiltonon May 30, 2011 4:40pm
222 Views
Post# 18646215

RE: RE: RE: Our Best Interests?

RE: RE: RE: Our Best Interests?FTT - I am inclined to agree with you on this.

After getting through the emotional response, I do think that in the long run this company has a good if not great value proposition. As a matter of fact, I picked up a few more shares at 80 cents on Friday.

My conservative estimate of the current value is still around $2.50 so it's trading at significant discount due to the risk attached to the approvals. Once those are in place, I see very little standing in the way of Teck  (or another major miner) coming in with a good offer that provides a great ROI for us from this point and a good ROI for the buyer.

I also talked with I.R. at CZN and basically the renegotiated deal is not leaving anyone in management happy, but the original financing at 90 cents was a best efforts deal (which may not have sold - my words not theirs) while the 80 cents is a bought deal and guaranteed. The other logic, is that given the volatility in the financial market, issuing the PP now puts money in the bank and is better than gambling that the price will go higher.

I hope this is helpful.

JH
Bullboard Posts