Lets get this straight. The company announcement on the 4th of Jan, stating the following:
- Unable to duplicate the Resources to the Proven Reserves conversion detailed in the Badger Study. - Mbila project dropped - Dispute/Litigation to Ensue - The company believes there are still merits in the York transaction due to a suite of assets complimentary to Kangwane. - Kangwane Central project continued to be developed.
The share price immediately drops to 1.5 cents, then there is a miraculous turnaround whereby it rallies in the same day to 4.5 cents.
Day traders? Instos? Value 'Spec' Investors? Pattersons? etc? Who knows, who exactly did the dumping & pumping?
So now we find the share price in between the "Bear Camp" who believe that 1.5 cents was justified & the sp could go lower & the "Bull Camp" who say that 4 - 5 cents currently is the correct valuation for ZYL.
I guess, this means that we are at the "Cross-Roads".
The next announcement "AND IT'S WORDING" will be Crucial in thrusting the Share Price (and I believe it will be a THRUST or movement with Great Force) either to the Downside where it may trade Sub 1 cent or to the upside where it may get to 5+ in a great hurry.
Interesting times for both Holders & Purveyors (like myself) of ZYL
Cheers to All, Pandelis
HWK Price at posting:
2.6¢ Sentiment: None Disclosure: Not Held