Director bought 468k shares at 0.35 per share 3 weeks ago, that's decent $170k cash from his pockets, huge confidence imv.
Recent MZI's movement triggered WTR's long delayed interest.
MZI is operating well, positive cash flow expected in next 6 month, but shares on issue is too much, I work out total 2.4 billion shares (after fully converted at 2.3-2.5c).However I put a 3c SP target for MZI.
Have to admit WTR's resource is world-class indeed, with
Ranobe tenement:
1,400Mt at 6-7% THM
Including 707Mt @6.5% THM JORC Resource
Production will start from the higher grade 145 million tonnes at 8.1% THM next year.
WTR also reported the regainal total exploration target is at 4.7 Billion tonne.
Cash on hand is $10.5 million, expected cash flow (after tax) is $51 million per year, circa 18c/share, indicated SP has a target of $1.8 at EP 10.
All in all, both stocks are great, considering the Zircon price is $2500+/t atm, but I give more credits for WTR's world class potential.
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Director bought 468k shares at 0.35 per share 3 weeks ago,...
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