RE:RE:If you like the prospects of Zinc....If you look at Canada Zinc Metals (CZX) annual general meeting it shows Tongling owning about 30% of the company. Tonlging is the same Chinese group that bought Corriente Resource (undeveloped copper deposit in Ecuador) about 5 years ago for about $650 million.
There is a news release a few years ago that reports Teck and Korea Zinc both investing in CZX through a private placement at $0.40.
More recently Teck and Korea Zinc have optioned a few of CZX's earlier stage claims next to the main deposit :
-10-14 03:51 PT - News Release
CANADA ZINC METALS ANNOUNCES COMPLETION OF 2015 EXPLORATION PROGRAM ON THE COMPANY'S PIE OPTION PROPERTIES
Canada Zinc Metals Corp. has been advised by Teck Resources Ltd. that it has concluded the 2015 exploration program on the optioned Pie-Yuen-Cirque East properties.
The company owns 100 per cent of 11 large, contiguous property blocks that comprise the Akie and Kechika Regional projects. The company's flagship Akie project is host to the Cardiac Creek deposit and remains the primary corporate focus. The Kechika Regional project includes the Pie, Yuen, Cirque East and Mt. Alcock properties extending northwest from the Akie property for approximately 140 kilometres along the strike of the highly prospective Gunsteel formation shale, the main host rock for known SEDEX zinc-lead-silver deposits in the Kechika Trough of northeastern British Columbia. These projects are located approximately 260 kilometres north-northwest of the town of Mackenzie, B.C., Canada.
The company believes the generative portfolio of Kechika Regional properties offers shareholders and investment partners significant opportunities for exposure to new discoveries in the Kechika Trough.
Pie option properties
The Pie, Yuen and Cirque East properties are the subject of an option agreement concluded on Sept. 9, 2013, with Teck and its JV partner, Korea Zinc Co. Ltd. The option agreement would see Teck and Korea Zinc spend up to $8.5-million to acquire up to a 70-per-cent interest in the Pie, Yuen and Cirque East properties.
Teck has spent approximately $1.3-million in exploration expenditures over two field seasons on the Pie option properties utilizing an integrated approach to exploration to maximize the potential for discovery. There is a commitment to spend an additional $2.2-million by the end of 2017. This would conclude the first option and earn Teck/Korea Zinc an undivided 51-per-cent interest in the Pie option properties. Upon exercising the first option, Teck/Korea Zinc would have an additional option to acquire a further 19-per-cent interest in the properties for a total of 70 per cent, by incurring an additional $5.0-million in exploration expenditures by the end of 2019.
What you see is Teck and Korea Zinc both showing more and more interest....
I saw that one of the Varshneys is a director of Mountain Province Diamonds (TSX: MPV) - building a large diamond mine with De Beers in the NWT. Market capitalization is about $900 million.
As I said I like and own both AZ and CZX. I just see CZX as a better buy right now given it is so undervalued. They both have similarities - large deposits, good grade, both would be underground mines, good management, both are takeover targets.