It was good news to see that the company decided to keep the...

It was good news to see that the company decided to keep the market cap of Zinc Co very tight, and valued on a conservative basis...

$5million raised through the IPO, to give it a nice cash injenction, followed by a further $8m that will distributed to GIR shareholders in-specie.

Zinc Co should easily see ~ 40cents on listing given such a small market cap.

Whilst the ex-entitlement date for the IPO even caught me off guard (even though I still well and truly qualified for it), the company has made a good move to allow shareholders to participate in the upsdie of ZNC, by giving us all time to acquire GIR shares and gain ZNC through the in specie (at about a 1 for 4.5 ratio).

It is also great timing, with the price of Zinc expected to rally strongly into 2nd Half 2007, which will give this float a strong uplift when it lists....

The actual tenements themselves are also of high quality with the director Mick Joyce having acquired these in the late 1990's when zinc was an unloved metal. Mick had a liking to zinc tenments, thereby picking these beautys up when no one else wanted them.

Now we all get to reap in the rewards....

I suspect that GIR will chop sideways over the coming weeks, but will have a crack at its recent high of $1.05 in the coming weeks and months...