Will be watching GSE closely over the next week or so
Just completed a $1.2M placement to sophs. They will want a pump and at least 3 - 4c for their stock I imagine. Lately on the ASX, a lot of private placements have taken place just before very positive news I have noticed.
GSE have some decent news due, that could see a re-rate in the short term:-
- JORC due for their Elaine Deposit. Could be up to 50Mt of ore at a 1%+ Cueq according to WiseOwl. With a market cap of just under $10M, there is plenty of upside if these figures come in.
- Potential for the government to review their ban on Uranium mining in QLD. Even a hint of this succeeding would be massive news for GSE, given their drill strike of 50,000PPM. Their Elaine deposit is right next door to the Mary Kathleen Uranium mine of CRA.
This could quite easily be into the mid 3's in the next 2 weeks in anticipation of the JORC
ZNO Price at posting:
2.5¢ Sentiment: Buy Disclosure: Held
