Zoltav Resources - The End is nigh ( and watch out Paternoster, Aurum & Evergreen)

For the most hideously overvalued company on AIM, Zoltav Resources (LSE:ZOL) the end is nigh. Today saw news that it has drawn down the second and final £250,000 tranche of a £500,000 loan facility made available by its largest shareholder. That suggests that net cash was down to pretty much sod all. And that makes for grim reading. Yet at 5.85p the company is valued at a quite unbelievable £22 million. This is a joke valuation.

Read the full article