Lundin says hold Smash Minerals Lundin says hold Smash Minerals
Smash Minerals Corp (C:SSH)
Shares Issued 24,276,390
Last Close 3/9/2012
.38
Monday March 12 2012 - In the News
Brien Lundin, in the February, 2012, edition of the Gold Newsletter, says hold Smash Minerals Corp., recently 47 cents. Mr. Lundin said buy in September, 2011, at $1.02. A $1,000 investment at $1.02 is now worth $460. Smash is merging with Prosperity Goldfields Corp., in a deal where Smash shareholders will receive one share in the new company for every 1.6 Smash shares held. Current Smash shareholders will own 26 per cent of the new company. Prosperity and Smash together own 1,276 square kilometres of land in Yukon and Nunavut, and have a combined working capital of $8-million. Smash's CEO Adrian Fleming will be CEO of the new company, while Smash director Darryl Cardey will be chairman. Mr. Lundin says the combination of Smash's management and Prosperity's projects is a good one. In 2011, Prosperity drilled 156.7 metres of 1.7 g/t gold from surface at its Kiyuk Lake project in Nunavut. Mr. Lundin expects good news flow in the next couple of seasons from exploration at Smash's Whiskey gold project in Yukon. The editor says he would have wanted a better conversion ratio for Smash shareholders, but the terms of the deal are good enough. Hold Smash; the editor may later recommend the merged company.
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