The prospect of sovereign risk would be a major factor for
investors thinking about any company operating in Zimbabwe.
This may have been why ZIMPLATS (ZIM) started reacting so
cautiously to last week's announcement it had reached agreement with the
Government of Zimbabwe, creating the platform for further large-scale
investments by Zimplats.
The shares rose just 30c to $7.30 last Thursday and a further
25c to $7.55 Friday.
A rethink over the weekend brought a 95c jump to $8.50 on
Monday.
Yesterday, despite the shakeout for the market as a whole, the
buying reached fever pitch and the shares soared $2.50 to as high as
$11.
Under the agreement, Zimplats will release claims outside its
long-term expansion areas, and together these claims amount to 36 per
cent of the company's resource base on the Great Dyke in Zimbabwe.
The contained metal in the ground to be released is 51 million
ozs of platinum or 99 million ozs of 4E (platinum, palladium, rhodium
and gold).
The released ground is outside of Zimplats's long-term expansion
program of 1 million platinum ounces a year over a 50-year life of mine.
Hmmm, that's about $1.65 billion a year, or $82.5 billion in 50
years.
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Last
$13.26 |
Change
-0.940(6.62%) |
Mkt cap ! $1.427B |
Open | High | Low | Value | Volume |
$14.20 | $14.20 | $13.22 | $50.37K | 3.704K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 522 | $13.26 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$13.40 | 149 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 522 | 13.260 |
1 | 973 | 13.250 |
1 | 159 | 13.220 |
1 | 50 | 13.210 |
1 | 504 | 13.200 |
Price($) | Vol. | No. |
---|---|---|
13.400 | 149 | 1 |
13.800 | 24 | 1 |
14.200 | 497 | 2 |
14.500 | 40 | 1 |
15.000 | 1885 | 2 |
Last trade - 15.44pm 09/09/2024 (20 minute delay) ? |
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