Winzen International Inc. (WZI : CDNX) Message Board

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Gold/Mining/Energy : Winzen International Inc. (WZI : CDNX)

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To: Bam who started this subject	9/30/2000 3:56:02 PM
From: Bam	of 15

For a better picture of the value of this company, compare it to TZH (Trizec). TZH is much bigger, but they are a real estate holding company. They have about $2 B in book assets, which gives them a per share valuation of $11.65. They are trading at $25.40... The only difference is that TZH is much bigger, and has a large cash flow from its property management services. Even with that in mind, their latest EPS was only $0.11 per share (for the 3 months ended June 30th 2000), down from an EPS of $0.23 for the same period last year... So TZH is trading at a premium to its NAV (the book) of more than 100%. It is even trading at a premium to its market value NAV. There are other Canadian real estate plays that are in the same position (i.e. trading at a premium to their NAV (book or market). Take a look at BTC or OXG and that will demonstrate that these companies trade at a premium to their NAV. That is why I think WZI has a future, if they would increase the liquidity of the stock. It is almost impossible to buy right now.

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