I first started looking at ZNC wneh I saw NMG re rate from $15m mkt cap to approx $200m.
Once I saw they had raised the capitail to do the drilling I started buying and will continue to buy , they have just recieved an additional $800k from Turkish asset sale , so funding is not a problem.
The is a very easy to understand story.
Undervaled and path to re rating in place.
Drill and keep drilling.Why have brokers not picked this up.
302K oz already at Dulcie and importantly an exploration target on the new ground at DFN of 800-1.1m oz.
I give this number an 80-90% chance of coming in as from previous announcements you can see that the company has previously drilled the ground.
So the current drilling will be well targeted and basicslly doing enough density to get the JORC classification.
The company should be valued closer to $50m or 10c on this alone.
As they bring the conversion of the drilling to account this number should rise significantly.
Then you have Red Mountain which is a fantastic. project to have in the portfolio.
Every company would love to have a project this to drill.
It could be huge and there is nothing in the share price for this project.
Don’t forget you also are getting a 10mt lithium resource and a 25% free carry on the Heraheedy Zinc project.
Great buying.
Add to My Watchlist
What is My Watchlist?
