ZRL 0.00% 3.7¢ zambezi resources limited

zrl is rock solid, page-10

  1. 146 Posts.
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    Thanks hunter. Now I understand. I have checked the announcements and here are my findings/thoughts:
    As per the $5m funding package from burgen, zel is drawing $50000 per month and the have to issue shares in return.

    Zel issued 25 mils share on 21/12/2012 at price of .002 (=$50 k)
    Zel issued 25 mils shares on 25/1/2013 at price of .002 (=$50 k)
    Zrl issued 50 mils share on 27/2/2013 at issue price of . 001 (=$50 k)

    Looks like burgeon tried to offload some shares with profit. Unless company secures environmental approval soon, zrl will be forced to continue issuing shares at .001 and cause serious dilutions.. I hope that the can get the approval !!
 
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Currently unlisted public company.

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