It appears that our Chinese connections have fronted up with the...

It appears that our Chinese connections have fronted up with the cash that will keep ZGM operating to define its Moly resource and perhaps begin to scratch at its fantastic gold potential.

This is a real boost as the plans had been to pretty much go into hibernation until better times.

Sydney - Wednesday - November 5: (RWE Aust Business News) - Zamia
Gold (ASX:ZGM) has placed 4,570,000 ordinary shares to West Minerals at
the five day volume weighted average price of 7.94c per share.
This will result in West Minerals increasing its total interest
to 11.7m shares representing 17.6pc of the issued shares in Zamia.
Each new share will have an attaching option which entitles the
holder to subscribe for one ordinary share in the company at 15c per
share during the period of two years from the date of issue.
International Base Metals will continue to provide both technical
and administrative assistance to the company under its existing agreement
and has offered to accept 5 VWAP priced shares in lieu of cash payment.
Any shares under this proposal will only be issued following
shareholder approval.
In the future this payment arrangement can revert to normal
commercial terms at the discretion of Zamia directors.
Non-executive directors have determined to cease the payment of
directors' fees to directors.
All non-executive directors have expressed their intention to
support the initiatives without payment.