Essentially, ZRL is a rock dump project which potentially holds...

Essentially, ZRL is a rock dump project which potentially holds 50 mill tonnes of approx 1.5% copper oxide, worth in excess of USD $5 billion.

Back in the 70's the sulfides (+6% Cu) were mined and the oxide was thrown away - it is still stacked up in piles. ZRL have a binding MOU to take these on should the drilling prove up the Copper content. At $17 mill
market cap before the cap raising, its a seriously good punt especially with drilling complete and results expected soon. These results will show if this ore is amenable to low cost heap leach and electro-winning processes.

Also, before work stopped on their other projects,
Kangaluwi and Cheowa, in Zambia (GFC related), there were over 10,000 assays still to come back from the lab in regards to these previous flagship projects, which they still retain. Over the last 3 months they have been releasing these results as they became available, and have been able to provide the market with an initial JORC of 21 mill tonnes at 0.88% copper for 193,000 tonnes of contained metal. This JORC should increase
substantially as they unfold the deeper drill results.

Overall, ZRL is a highly leveraged speculative play on copper, which is starting to look good right now.