It could very easily double or more in any given week - this could be in the form of exploration results, a significant farm in arrangement putting millions in cash into the company, or a takeover offer. Company is currently valued at $40m after rising in value by ~20% so far today. Look at what they have and how many shares on issue. Snake Well now well and truly being pushed ahead. IMO only just the beginning, and the market just starting to wake up. Volumes have been reasonably small so far. Imagine what the share price would do if a party wanted to invest $10m.
Definitely good it's not popular here at HC - IMO buying is being done by those in the know, directly linked with GIR/AGO, and day trading is kept to a bare minimal. Look at recent substantial holder notice (one before last) - that purchaser also holder other GIR, and offshoots.
The new AGO could take CAP and ZNC on to their books, but for how much? They have cash to develop something like Mt Alexander into full operation in a short time.
Very interesting to watch. Massive year so far for ZNC.
ZNC Price at posting:
61.8¢ Sentiment: Buy Disclosure: Held
