Dotcom survivor Ezenet is enjoying a bumper run thanks to a Londonlisted company all but destroyed in the September 11 New York terrorist attacks and a rescued African copper group.
Ezenet shares jumped 3¢ to 18¢ yesterday on the back of a spectacular performance in its UK associate Weatherly International, which has more than doubled in price since it unveiled its acquisition and restructuring in April of Namibian group Ongopolo Mining and Processing.
Weatherly was an investment management operation with a major office in the World Trade Center’s south tower until the building and most of the company’s records were destroyed in the terror attacks.
Ezenet survived the dotcom crash to commercialise its hotel internet technology but, with tech stocks out of fashion, diversified into mineral investment three years ago when Dalkeith minerals entrepreneur Wolf Martinick became involved with the group.
Mr Martinick oversaw a recapitalisation of Weatherly and was backed by Ezenet, which now holds 18.25 million shares in the London-listed company.
Ezenet’s shares are valued at more than $10 million based on the overnight Wednesday stock price for Weatherly, which rallied after unveiling a $9.6 million capital raising to bankroll its plans to revive Ongopolo.
Ezenet managing director Richard Burt said he believed that with the Australian-listed company’s market capitalisation totalling $9.4 million, investors were buying into his group for a relatively cheap exposure to Weatherly.
