(ASX: ZMI – ZINC OF IRELAND LTD)
SP: 1.7c
MC: $15.54Million
Shares: 914,132,532 Fully Paid Ordinary Shares
Top 20: 42.27% or 386,352,627 Fully Paid Ordinary Shares
STTCOMP ZMI, TA Long
(ASX: ZMI – ZINC OF IRELAND LTD)
SP: 1.7c
MC: $15.54Million
Shares: 914,132,532 Fully Paid Ordinary Shares
Top 20: 42.27% or 386,352,627 Fully Paid Ordinary Shares
ZMI is certainly in the current spotlight and with Assay Results Pending, there is certainly an air of anticipation. If they are favorable then the potential for a share price re-rate would certainly be a strong possibility. It is almost a fairy-tale story at present, and I hope for investors that the ending is a happy one.
Over the last 6 weeks, the share price has been pushed hard by buyers into the 1.7c and 1.8c region. However during this time, price has not been able to overcome this resistance, as sellers flood the market which so far has kept a lid on the share price bursting through those price levels.
Looking at the Weekly Chart what is striking is the rate in which trading volumes have been increasing. So if there is a repeat of buying activity at similar levels over the coming weeks, a break through 1.7c – 1.8c is a possibility even without assay results being released imo.
Please DYOR as this is not a buy or sell recommendation
Cheers
GF
