Entry for STT List
Hey everyone, I'm new to this thread and my diligence process on mining companies is quite basic as I'm still fresh. So any advice on other things I should look for in a coy will be greatly appreciated. And also, this was an extremely quick scan of the coy. so I may have missed some things.
Zenith Minerals - ZNC
Market Cap: ~6 mil
No. of Shares on Issue: 121.9 mil
Cash: $1.2 mil
Debt: $0
Options: 1.1 mil
Gold at Mt. Minnie, Aus.
Gold at Kavaklitepe, Turkey
Managanese at Earaheedy, Aus.
Copper at Develin Creek, Aus.
Iron Ore at Mt. Alexander, Aus.
Coal at Sungai Roi, Indonesia
*highlighted in bold are projects with upcoming, price sensitive announcements
AGM Pres. (Nov 2014)
http://www.zenithminerals.com.au/aurora/assets/user_content/file/ZNC 2014/ASX Releases/November/ZNC Pres AGM Nov2014.pdf
Quarterly Report
http://www.zenithminerals.com.au/aurora/assets/user_content/file/ZNC 2014/ASX Releases/October/141024 ZNC QuarterlyActivityStatementSep2014.pdf
Coy has six different projects, with Mt. Minnie, Kavaklitepe and Sungai Roi acquires through S2M2 Coal of which the MD was a co-founder. So they do do inhouse deals if you're alright with that then that's up to you,
http://www.*.com.au/companies/news/...est-in-new-turkish-gold-discovery--51388.html
They released some excellent results today re Develin Creek (which bumped the share price up 20%, their partner FRY went up 150%),
http://www.zenithminerals.com.au/aurora/assets/user_content/file/ZNC 2014/ASX Releases/November/141126 ZNC_Develin Creek_Massive Sulphides_FINAL.pdf
They currently own 51% with the option to acquire the remaining 49% from Fitzroy Resources (ASX: FRY) for an extra $300,000 and 3 million shares.
Another project I like is the Earaheedy Project in W.A. which has DSO grade manganese and a resource estimate of 1.2 Mt @ 19% Mn. For comparison, SRR had a 36-53% @ 5m while ZNC is also targeting shallow >40% Mn.
Anyway, the reason why I'll bother entering this into the STT thread is for slide 19 on their AGM Pres. It's worth a read as there are quite a few catalysts for a possible increase.
So expect in the next coming weeks:
1. Field Recon Rock Results for Develin Creek (Copper) - 1 week
2. Resource Update for Develin Creek - 2-3 weeks
3. Recon Assays from Mt. Minnie - 2-3 weeks
4. Soil Results for Develin Creek - 3 weeks
Feel free to correct or criticise me, I'm really just looking for advice for now til I can compete in the STT Comp.
