Zenyatta kick starts July: Graphite sector stocks fall flat in June
InvestorIntel Graphite & Graphene advertorial members stock performance fell flat for the month of June, collectively up +1.03%. This said, it is good news as we are heading in the right direction after a decline of -3.82% the month earlier (May).
Zenyatta Ventures Ltd. (TSXV: ZEN | OTCQX: ZENYF) kicked off July with the news release: Drilling Intersects Wide Zones of Graphite Mineralization on East Pipe; Drill Now Mobilizes to West Pipe. This will undoubtedly build on their June performance, which included +18.95% in the Canadian and +18.33% in the US market — closing the month at USD$2.82. Zenyatta warrants recently yielded gross proceeds of $12.6 million. The warrants were priced at $1 and expired on June 24, 2013. Some of the proceeds will be used to fund continuing drilling, resource estimate, metallurgical studies, graphite characterization and a preliminary economic assessment. The budget for this program is approximately $7.5 million and they are in the enviable position to not need capital in these present markets…
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Standard Graphite Corp. (TSXV: SGH) was up +25% in June without any news, and calling Chris is on my to do list…
Lomiko Metals Inc.(TSXV: LMR) finished June up +9.09% and highlights included the appointment of Dr. Elena Polyakova and Dr. Daniel Stolyarov. The intent is to create a Research and Development Department to oversee and coordinate the research activities on conversion of graphite into graphene, for the customers of Graphene Laboratories Inc. Lomiko Metals also announced last week that it has entered into an agreement with Secutor Capital Management Corporation to finance a private placement of up to $500k.
Other highlights of the month included Flinders Resources Ltd: Final Metallurgical Tests Yield Jumbo Flake Graphite and Enhanced Purity for Flinders’ Woxna Graphite Project, Sweden and Mason announced closing a $5 million private placement, and last week Galaxy Announces Annual General Meeting Voting Results and its Decision to Abandon The Sun Graphite Property.
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