Re: Canadian Zinc and Messina Minerals Announce Agreement on Proposed Acquisition an

High-grade Silver, Zinc, and Lead Advanced stage of development Prairie Creek Mine-NWT

Largest Shareholder Vatukoula Gold Mine (680,000 oz Reserves, 4.3 million oz Resource)

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Panamax

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Re: Canadian Zinc and Messina Minerals Announce Agreement on Proposed Acquisition an

in response to

Canadian Zinc and Messina Minerals Announce Agreement on Proposed Acquisition an

luker

posted on Sep 12, 2013 03:08PM

luker -

It seems, to my untrained eye that, that CZN has paid a high price for the shares of MMI.

"The Exchange Ratio implies a 188% premium to the closing share price of Messina on the TSX Venture Exchange ("TSXV") on September 11, 2013 and a 181% premium to Messina's 30-day volume weighted average price ("VWAP") for the period ended September 11, 2013. "

Given the "softness" we have seen in the base metals sector (as reflected in the share price of CZN), I am surprised at the high premium paid.

Do you have any thoughts on this subject?

- panamax

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