I thought it could have something to do with the hint in the latest Board Update from 17 April 2024 about the potential for acquisition or merger activities in the future, stated by the Executive Chair:
"We are pleased to welcome an experienced Mining Engineer to our team. Mr Willis’s appointment will bolster the Company’s essential skillsets to investigate and evaluate mature projects and may very well be opportune considering one of the Company development goals has been to target mature assets for merger or acquisition opportunities ... With a highly technically-focused board, we look forward to the successful growth of the Company’s gold tenement portfolio.”
From the half yearly report dated December 2023 the company has $2.6m in cash and equivalents (as at that date), so not cash poor. Maybe they're looking in that direction.
ZAG Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held
