A brief note on a few of our stocks, two of which had big news today. First, Zenyatta drill results continue to hit successfully: http://finance.yahoo.com/news/zenyatta-drilling-yields-more-significant-13100070
1.html . Not only is the east pipe shaping up nicely for the 43-101, now we have initial confirmation of similar hydrothermal graphite breccia. Remember, the west anomaly is more than twice the size of the east. I think we'll see in the neighborhood of 80 Million tonnes proven up early in the 43-101 technical reporting on the east. Will the west prove to show much more? That would make sense as the drilling results have been pretty consistent from the airborne surveys conducted. There's probably 200 Million tonnes (ish) on the east if/when they drill deeper.

A couple of subscribers asked what I made of yesterdays flush/volatility. My reply....get used to it!! If you think this stock is going to $10 plus, be prepared for violent shaking of the trees along the way. Frankly, besides the long consolidation around $2 and a quick flush to $1.60 after hitting $2.50, this has been too easy. There are going to be times your conviction is tested if you have decided to hold Zen for double digits. This is also why I like to peel off some shares on the way up when things look great and sentiment is high. No stock goes straight up...not even the mighty Zenyatta. Two potential major catalysts between now and the end of September(or so) is the 43-101 and the internal testing results Zen has been conducting. I think if they can say this hydrothermal graphite can without a doubt compete in the synthetic market, and will likely be accepted with enthusiasm into industries like nuclear, the next run will be upon us (if not before that).

I'm out of about 15% of my position, selling 105 the first move above $4 and selling more when we began to stall out just below $5. If we see further weakness I would consider throwing the shares back on or just the $5 shares. The next chunk I will not sell until the $6-8 range. The volatility doesn't scare me...I own the 85% of my position for free(negative cost actually)! If you have heard us recommending Zen since 20 cents last August, then again pounding the table at $2 just before this run, but waited and finally bought some at $5, I don't know what to tell you....you may want to pull a George Costanza for awhile and do the exact opposite of whatever your instinct is!