ZEN blew through previous 52 week highs this morning on the TSX to 73 cents per share post news of 100% ownership of the Albany graphite project. We feel the stock should be trading over a dollar now and is simply playing catch up to what we know about this exciting company. Also, the company applied to extend the warrants at $1 per share per this release today: http://finance.yahoo.com/news/zenyatta-ventures-ltd-announces-application-142234711.html.
This is a good move and significantly enhances the likelihood we trade over a dollar between now and June of 2013 (perhaps this happens in December 2012!) and see over $12MM flow into the treasury when the warrants are in the money. The stock would need to move to probably $1.20 as a motivator for warrant holders to start exercising, which shouldn't be an issue if we're right about this company. A $50MM market cap would still be paltry for this stock and, pre warrant exercise, that takes us to about $1.50 per share. This is our favorite investment in the market, period.
There is much to be thankful for here at the Gold Investment Letter! We appreciate all of you who take our musings to heart and we look forward to a very exciting 2013 and a fun ride in Zenyatta Ventures. We'll work on our special report for premium subscribers re Zenyatta potential value over the weekend, which gives those of you who still want to sign up for it a few days to do so. Those in the USA, enjoy this great holiday with your families and friends.