I think as long as the claim is being denied they will be quiet. In fact they will be quiet as long as posible it only makes them look bad. But if public pressure mounted they would have to say something. Anyway I bet their lawyers are moving.
The Gramalote deposit appears to be much larger than the 2012 resource number. I started going through Anglo's Environment Impacy study they did this year and they say the deposit is 5 million ounces and possibly as much as 7 million
The plan indicates production would be between 350,000 to 450,000 ounces of Gold per year and a similar amount of Silver
I have been in and out of this stock over the last 5 years and I currently hold some stock at this time.
At first glance, the news that came out appeared to be negative as Zonte were denied a permit. I understand there is some discrepancies with the decision and It may favour Zonte in the end but I proceed cautiously and somewhat optimistic. There seems to be some politics involved as decisions were made that seem to conflict with rules and mining laws. I assume the lawyers will be arguing their side of things.
I am hoping for a good outcome and will be watching.
On another note the last couple days were somewhat exciting for the stock as more shares traded in those days than any days the last couple years. to keep it in perspective only 4% of the shares of Zonte were traded in that time basically 1 million of 25 million. Not a lot, and we are only talking about $45000 dollars worth.
There may be a lot of people holding onto their shares and that's good, but at the same time there wasn't a lot of buyers either.
Hopefully Zonte becomes more popular and mining in a whole becomes more favourable.
looking forward to more news and updates on this development and other permit applications they have in the region.
Who ever is selling must be taking a huge loss, cause they hasn't this manyshares traded in all the days since the 2 for 1 3 years ago. Thats when 70 cents became 35 cents. Aĺl we need is a few more news reports to keep this momentum. Good ones
I think trading and volume will be different now. The company has been in a blackout period for over a year as they could not say anything or promote the stock while these events were going on behind the scenes. Now it is starting to come out and I would bet we will learn some more details in the weeks and months ahead. There is still their other applications to come that are probably not so politically sensitive
I do want to stay positive, but remember 100 shares can take this right back down . Been here before. We need many days of great volume like today . I will make my mine up if im sticking around when i hit my break even point.
WOW this is huge. I think this is the key paragraph in the news
In the department of Antioquia, Colombia, where the application was made, the Secretary of Mines processes applications and issues titles. The company's partner, which made the application, received a review of the application from Secretary of Mines stating the application was being denied for various reasons including: (i) its determination that the area is too small to become a mine; and (ii) the application would interfere with a large mining operation. Colombian Mining Code 685 of 2001 does not specify a minimal size for titles, nor does the mining code make any reference to interfering with mining operations. In fact, according to the company's Colombian legal counsel, the mining code is clear, in that it is a first-in-time system for open areas with no minimum size and a maximum size of 10,000 hectares. An open area is considered an area that is available for application, is not covered by a title or another previously applied for application and is not located in a sensitive area. The application for open areas over the Gramalote deposit and surrounding areas cover a total of just less than 30 hectares. This compares to a recently issued title in Colombia that covered less than 0.1 hectare.
Obvious they just making excuses because the other party (Anglo) does not want to see ZON get those claims