Tuesday 23 October 2018 | ShareProphets: The one stop source for breaking news, expert analysis, and podcasts on fast-moving AIM and LSE listed shares
The typical life cycle of a small mining company from initial discovery of a resource through to eventual production tends to feature lots of peaks and troughs along the way as various stages are reached.
Hello, Share Squeezers. As opposed to gold, silver and diamond mines, there’s something down to earth about iron ore. Gold is more glamorous, but it’s a very speculative area in which to dabble. Whereas iron gives a more secure feeling, somehow. Which brings me to an iron share suggested by this glorious website’s good friend, Wildrides.
Firstly I have to hold my hands up on Zanaga (ZIOC) as I offered up a speculative buy at 18p on 11th April. The shares are now 11.25p. Although my belief in the company has not changed clearly sentiment towards Zanaga and small cap resource stocks has been truly dire.
Yesterday two of the top three risers in the whole London market were wedge breakout formations – Leeds Resources (LDP) and Noricum Gold (NMG), situations that I have flagged in the past week.
The Zanaga (ZIOC) story is a rather familiar one for those who have followed resources stocks in recent times. It listed at 156p when shares in anything resource related were top of the pops. These days the sector makes the Jimmy Savile fan club look fashionable and the shares languish at 18p.
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