RE: sideways til June 23 ? I for one do not buy into this "Warrants Capping SP at $2.00" theory, more to do with the lull in news since the stellar 99.97% Purity Test results, as we have had only one New hole visually reported on, for the proving "Tonnage" side of the equation.
Exercising the Warrants is a non Market Transaction with Zen Treasury, pay up the Cash ($1/warrant) and then the issue of New Shares, which are now valued at $2 (5M Warrants O/S). Sure, some maybe sold as a hedge to protect the 100% gain but not all imo, most will be held because of ZEN future potential. Its not automatic, they, Warrant Holders do not have to sell the New Shares! They also made big gains on the initial placement shares!
ZEN is unique, a company with possibly no competitors within a sector, based on quality of product and price to produce the product and would be a recipe for success IF they have enough of said product. With a low Float, shares in future will be hard to acquire as they prove out tonnage.
Should see more results soon, hoping maybe even today or early next week!
Cheers, Mark