Wow.....$6M spent on drilling alone last year and the company is worth 8 million dollars today. Some of these major holders must wish they'd never stumbled on this stuff called Molybdenum.
If in fact Moly Mines/Hanlong Group are waiting for this US$20/lb price target, these projects could take upwards of 3-5 years before taking off. It may even take new applications/products to come on market for demand and prices to rise in this specialist metal.
I say any investor in Zamia Metals right now should consider this holding as purely a (rather expensive)speculative explorer with promising ground positions in a well known mineral province.
Invictus Gold (IVG) further north of Anthony have had some promising soil samples for gold/copper/silver and are in the middle of their maiden drill program currently valued at a $4MCAP.
I pray the ZGM management team are not considering a JV partner at these prices and in fact use some current cash to drill these new targets first. Once something of promise found, myself and other investors would no doubt happily take a rights issue up at the current share price to underpin some growth going forward.
ZGM Price at posting:
4.1¢ Sentiment: Hold Disclosure: Held
