Sad news releaseThe price drops 10% in one day and right on queue, the ZEN team releases another pathetic news release.
Absolutely no mention of any progress in developing the actually mining site. No access road being developed, no electrical service being laid down, nothing.
All they quote are these hypothetical values per kg. This is a huge red flag.
They are mostly concerned with the December private placement announcement turning into a complete financial flop with no subscribers.
Right now shares are trading at a 12 cent discount to the 0.65 cent PP. This is a disaster. It also means that share prices will likely keep sinking. Without fresh PP money, this company may run into cashflow problems soon.
They need to adjust to PP value to closer to 0.20 cents to possibly get some action. But with no actual progress updates on site development I think that the more savvy investors will stay away even at that price.
This is all disappointing as I just keep seeing too many red flags that all is not well.