At the outset I will say I do NOT own any warrants... Folks....Frankly I am very disappointed at the reaction to the 100% ownwership news yesterday. IMO we should be sitting over $1 today. We are not over the $1 mark because brokerages have been selling into the bid to keep the price down. Pure and simple! ZEN is a little low on cash to move things along. I believe there is about 1.8m in the coffer. The 25 and 60 cent warrants are in the money and could be exercised for another 0.75m, but the brokerages want a new PP so they can get a whack of shares and and fresh new warrants to boot.. This path leads to dilution and lots of it. Most of the the Jr mining sector has been pummelled and forced to do PP at ridiculous valuations resulting in huge dilution. All we need is the warrents to erercise at 1.00 to move the story along for another year or more. In 6 months we will have:
- purity results above 99%,
- cash in the bank,
- a drilling program
- a PEA
- a price in the multi dollars where we can do a PP with very little dilution.
This is a nice move by Aubrey. He has a chance to build a company and he has his shareholders in mind first and foremost. My hat is off to Aubrey!!!