I expected this announcement to happen around Friday this week. Nice surprise this morning. Can't say I was worried about the stock last week with the erosion however I wan't enjoying it. I was a touch nervous about this morning's trade on the back of zinc being belted however all in all things are looking up. Should be getting ready for a reversal of fortunes.
This announcement basically unplugs the newsflow. Offtakes can be settled with minimum of fuss and financing should be sorted also. The only danger I can see is that the management might hold out for the zinc price to appreciate a bit before locking away a price??? That might cause some delays with an offtake agreement .... however all in all things look good.
The pullback in price this morning can largely be attributed to people worried about zinc price and a general sell off of zinc stocks (ZFX, HER, TZN and CBH all down). I shudder to think what might have been the situation had the licence announcement not been made.
I expected this announcement to happen around Friday this week....
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41.5¢ |
Change
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Mkt cap ! $86.65M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 128722 | 41.5¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 43.5¢ | 10000 | 1 |
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