ZNO is just following the same track of most small cap spec shares on the ASX. 6 months ago punters were prepared to pay over the odds for growth stories. Today they demand to see solid numbers proving that growth is coming. Nothing wrong at all with ZNO just a more demanding number. I expect only solid results will move from here.
Take a look at AJX another small cap in a similar situation.
Ann: Appendix 4C - quarterly, page-37
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