Spoke with Jeff Broomhead at ZGM almost two weeks ago;
Quarterly report is due this/next week. This will outline that the company is in a state of hibernation and has sufficient capital to last 12months There is no money currently available in the external credit market today. A memorandum will be released in early March, outlining a shareholder capital raising. There is a resource there to be drilled out. Not currently sure of commercial viability – when last moly report was released, moly was trading at $33/lbs. They applied a long term value against it at $14.50. It is currently trading at $12/lbs. Regards, Doubledown
ZGM Price at posting:
2.5¢ Sentiment: Hold Disclosure: Held