Chart, page-48

The sell side of the order book is the lowest I ever remember seeing it, 2.5m vs 400k, with only 12 sell orders none of which are of significant value.
Very little resistance in the order book to any positive, unexpected news.

I think maybe ZNO has gained publicity from the exposure in the Fairfax media reporting of the share comp. The investor winning that has made their biggest gains from ZNO.

Not sure I buy the institutional buy theory, not liquid enough, unless you count investment companies setup by wealthy individuals. Not what I call 'institution's.
Private investors monitoring daily % gain lists & jumping on the bandwagon are more likely the buyers IMO.

It would be interesting if Motley Fool or the more credible Livewire started covering ZNO.