News

March 14, 2007

Zeehan Zinc Lists On Aim With Production Only Months Away

Asked why his company had listed in London when its assets were in Western Tasmania, Michael Roberts, chairman of Zeehan Zinc, replied that pre-IPO funding had been raised in London. Prior to the recent placing RAB Capital held 14.08 per cent of the shares through Credit Suisse Client Nominess (UK) and fund manager Philip Richards had made a very strong case for listing on AIM rather than the ASX on the grounds that the company was close to production and any subsequent development capital would be easier to find in London. Told that Zambezi Nickel was seeking a dual listing on the ASX as share trading in the stock had been limited up here due to the scarcity of retail investors, Mr Roberts replied that his company would have an office in the UK and he would oversee newsflow and promotional activity from there. Fair enough, it is very difficult to keep a company in the news through a series of sporadic visits so this should be the solution given that Mr Roberts has plenty of contacts in London from his 30 years in investment banking and industry.

The deputy chairman is Malcolm Bendall  who is an entrepreneur in the Tasmanian resource industry and it was  two companies with which he was associated -  Oceania Tasmania and  ZZ exploration  - which were acquired by  Zeehan  Zinc. Indeed it was he  who previously managed and supervised  construction of the current gravity plant and infrastructure of the open pit for Zeehan Zinc. The chief executive is a financial man, John Pollard,  who has...