RE:Enter the TwilightHi Studio10,
Thanks for your reasoned reply and all the best to you and yours in 2014.
Firstly, I am a shareholder of CZN, have been for a long time and to some extent will continue to be.
I have met Mr. Kearney, etc. and have excellent knowledge of and have made many spreadsheets on Canadian Zinc.
I have also followed Zazu, Vatakoula and (our CEO’s) Labrador Iron Mines (LIM).
I, too, have also been disappointed many times with the performance of the share price.
Recently, I have seen many posts that only pump the “good news” and which is mostly about the current price of zinc.
However, nobody is recently pointing out the many challenges that Canadian Zinc must still overcome.
I posted direct quotes of Canadian Zinc’s letter to the MVLWB made just a few days ago in which Canadian Zinc acknowledges these exact challenges.
Also, you asked about share dilution and I responded with a direct quote of Canaccord’s forecast of share dilution. I expect it will now be closer to $50 million at .50 cents for 100 million share dilution.
But, of course, our resident “good news” poster made it clear that there is no room on this board to discuss reality, only good news.
I don’t think there are any suitors waiting in the wings as CZN would just pay for the past-due permits and be put back in permitting compliance, complete the optimization study and sell to a waiting bidder.
Instead, CZN is arguing with the AANDC and MVLWB for staged permit payments.
This does not sound like a take-over is imminent, does it?
CZN is also requesting extensions of the operating permits as, CZN explains, lending institutions, etc. require certainty.
The 2 direct quotes straight from CZN regarding the existing WL periods:
“create considerable difficulties for financing or lending institutions.”
“but financial conditions and market feedback have changed considerably since, hence this request for more workable and realistic durations for each permit.”
Now how long will it take the MVLWB, AANDC and the Minister to agree on extensions to eventually satisfy the requirements of financing institutions, etc.?
My guess, too long.
Regardless, after all these years of effort, even if there was a take-over now, the bid would be way too low, wouldn’t it?
My honest opinion is that CZN will do well for shareholders but not for a long, long time and definitely not until they clear the financing hurdles, streaming deals, etc. road construction, long-lead items, mill construction, etc., etc.
Just trying to keep it real.
Anyways, I wish everyone the very best in 2014.
Cheers!