Wow circa $6m purchase price, from a company with a market cap of $4m.
I was interested in following Admiral Bay purely as a sit and wait prospect, in the off chance zinc prices went skyward. Don't think this is especially likely, but maybe worth the risk (and really just how far is the downside, at this price level). However I just can't stomach the thought of another penny stock with continual capital raisings. It's a shame someone established with a positive cash flow didn't acquire it.
Given the established potential, I don't really understand why a larger company wouldn't just buy and sit on the tenement until the economics looked a bit more favourable (either through advances in minesite automation reducing extraction costs, or a boost in zinc price).
KZL Price at posting:
12.0¢ Sentiment: None Disclosure: Not Held
