ZNC - Zenith Minerals - Aussie Stock Forums

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  1. #1

    Post ZNC - Zenith Minerals

    New IPO that has just come onto the market this week.Zinc explorer focussing on projects in WA-this is a Giralia spin off.IPO closed 2 week early and was oversubscribed.Unbelievably there have lots of minimum allocations to Joe Public.Debut at 40c(from 20c issue),dipped a litlle over the last couple of days but what took my interest was the amount of largeish(?)buy orders.Lots of little sell orders of 10000 shares but quite a few 100k buy orders-possibly someone accumulating from day one.In fact at the moment the depth shows only approximately 260K available to buy,32k of which are above 70c.Very tightly held.Of the total shares on issue,61% are reatined by Giralia and are subject to an escrow peiod of 2 years.In total 71% is held by the top 20.Seems very well supported atm.Still holding-from memory i think there is a bonus issue of options subject to being in on record date but you will have to download prospectus to confirm this

  2. #2

    Default Re: ZNC - Zinc Co Australia

    i downloaded the prospectus, but got sidetracked with auz...
    and had unfortually no more ....
    no i have to get my hand on some the old fashion way
    i ve to get in tomorrow
    and good luck to all the holders from the start
    bear with me, bull

  3. #3

    Default Re: ZNC - Zinc Co Australia

    Another strong start to the day from this newbie.One to keep an eye on with little sell depth all the way up to 90c-wish i had bought more

  4. #4

    Default Re: ZNC - Zinc Co Australia

    Giralia are spinning off yet another exploration junior

    all of their floats are quality

    don't miss the next one

  5. #5

    Default Re: ZNC - Zinc Co Australia

    This is really flying at the moment,up 11cents already today with a couple of larger(100000)buys mopping up small individual holders.Dont want to bang on about it as i hold but keep it on your watchlist,could be another YTC

  6. #6

    Default Re: ZNC - Zinc Co Australia

    Apologies for the hotcopper type postings but this is getting crazy-up about 50% on Yesterdays close and up over 200%since launch(couple of days)Anyone else watching this.Could have made 30% if you got in at start this am.They havent even done anything yet!
    Last edited by alankew; 1st-June-2007 at 12:50 PM. Reason: not finished

  7. #7

    Default Re: ZNC - Zinc Co Australia

    i got in at .48 and o boy i m smilling
    i had a feeling this would happen but
    facts are always better than feelings
    go go go!
    bear with me, bull

  8. #8

    Default Re: ZNC - Zinc Co Australia

    Time to be careful i think,depth is thinning out on this one.Most of the big buys have been filled.Maybe they will be back for more but I got scared at these dizzy heights,out at 61c.Would like to get back in at the right price for oppies

  9. #9

    Default Re: ZNC - Zinc Co Australia

    out to at 0.59
    nice anough for one day of trading
    very happy
    and good luck to all the holders
    i l buy back in later on
    bear with me, bull

  10. #10

    Default Re: ZNC - Zinc Co Australia

    hey alankew you thinking of buying in again aswell?
    and what would you conside a good buyback price?
    bear with me, bull

  11. #11

    Default Re: ZNC - Zinc Co Australia

    I still think this could be another bargain stock at .115, they don't spend wildly, they still have 4M left from float and its coming up to drilling season in WA. Any good news from that and the price could go back to the .6's like this time last year.

  12. #12

    Default Re: ZNC - Zinc Co Australia

    I'm trawling through some of the mid-2007 IPO's to see if there is any value in these (most are well down on IPO price).

    ZNC has caught the eye for several reasons:
    1. it still has $2.6m in the bank;
    2. Zinc has shown signs of stabilising;
    3. They keep exploring and have idnetified zinc and manganese targets in WA; and
    4. it was a Giralia spin-off and Giralia hold 12% of the register.

    They are well into their exploration program. Current share price is round the 5cent mark.

  13. #13

    Talking Re: ZNC - Zinc Co Australia

    Almost a 10 bagger from it's 2008 lows now. From all rock chip samples shown, they are potentially sitting on a massive Iron Ore tonnage at My Alexander, and the current drilling has the ability to change the game permanently from a spec explorer to a confirmed resource. Good luck to all, and well done if you held through the lows, and/or averaged down. My last parcel was bought at 12c and I only wish I'd gotten more. Good days to come for ZNC.

    All IMO and DYOR.

  14. #14

    Default Re: ZNC - Zinc Co Australia

    nobody cottoned on to this yet? 1.2 preliminary resource, based on half the strike of the BIF. DYOR but this one is definitely going under the radar. 60m odd shares on issue, GIR owns a majority stake, which leaves very little on the market.

  15. #15
    Make the drill work for YOU springhill's Avatar
    Join Date
    Jun 2007
    Mental Institution

    Default Re: ZNC - Zenith Minerals

    MC - $23m
    SP - 28c
    Shares - 81m
    options - 900k
    Cash - $1.2m

    Excellent manganese drilling results at Red Lake Prospect, Earaheedy Project.
    • High grade manganese oxide drill intersections at shallow depth at Red Lake Prospect
    • These are the first potential DSO manganese drill intersections reported in the Earaheedy Basin
    • Significant intersections include:
    ZRLRC013a, 5 metres @ 34.8% Mn from 22 metres
    including 3 metres @ 41% Mn
    ZRLRC021, 3 metres @ 31.6 % Mn from 6 metres
    ZRLRC024, 3 metres @ 30.7% Mn from 3 metres
    including 1 metre at 40.2% Mn
    • Drilling results confirm Zenith’s exploration model and Kalahari style stratabound manganese setting
    • Potential for target stratigraphy to extend 3 kilometres to the east
    • Planning for further drilling under way

    Earaheedy manganese project
    In 2010 Zenith identified the western Earaheedy Basin as a potential new manganese province with similarities to the giant Kalahari manganese field in South Africa.
    Primary mineralisation is stratiform manganese carbonate and is associated with iron formations in adjacent stratigraphy. This primary mineralisation is a future target for exploration for large tonnage manganese deposits.
    Zenith’s priority target is high grade supergene manganese oxide formed by weathering of the primary carbonate and grading >40% Mn.

    As first mover Zenith established a strong land position with tenements covering 75 strike kilometres of prospective stratigraphy.
    Zenith has completed two successful drilling programs for manganese in the Earaheedy Basin since making the original discovery of stratabound manganese at the Lockeridge Prospect

    At the Lockeridge prospect, drilling intersections of carbonate mineralisation included (ASX 25 Oct 2010):
    12m @ 11.1% Mn from 28m
    3m @ 18.0% Mn from 37m
    3m @ 13.0% Mn from 14m

    At the Black and Blue prospect, drilling intersections of oxide mineralisation included (ASX 16 Dec 2011):
    31 m @ 7.9% Mn, including 1m @ 22% Mn and 3m @ 14.3 %Mn
    Test work on low cost beneficiation is planned for Black and Blue, while the new intersections from the Red Lake prospect show potential for direct shipping manganese ore.
    Attached Images
    "You have enemies? Good. That means that you've stood up for something, sometime in your life" - Winston Churchill

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