Shh, just quietly, two tickers have gone crazy ass bonkers over the last couple of days, with no news to justify the movements on each.
Mezzi Holdings (MZI.V), Keir Reynolds’ fashion aggregator that has gotten off to a slow start but looks to be putting together a sustained run, has shifted from just $0.04 (a scary low considering the CEO was buying on the open market at the $0.20’s not long ago), up to $0.10 today, a 250% jump in a month and 25% up on the day.
Volume has been steadily jacking up as Mezzi replenishes its stock of bags for the summer, and while a recent acquisition of a wooden sunglasses line doesn’t suck, it’s the ongoing ramping up of Mezzi’s M-Line gun case business that is really intriguing.
Meanwhile, Kesselrun Resources (KSI.V) has also been jacking big wins, lifting from $0.12 less than a month ago to $0.28 today.
All of which will make those who got in on their April $0.05 financing very happy.
The trigger in this case was a liquidity event at Tamaka Gold Corp, which is being sucked up by First Mining Finance Corp. (FF.V). Kesselrun owns over $2 million in senior unsecured convertible debentures of Tamaka with a 10% coupon.
From their news release:
The debentures are convertible into shares at 50% of the price ascribed to a share at the time of a liquidity event such as an IPO, RTO or change of control plus any interest calculated at the day of the closing of the event.
As soon as that news dropped, KSI went on a tear, and management are taking advantage of the new heights by kicking out a flow through financing at $0.15. In fact, the share price has taken off so hard that the $0.20 warrants attached to that financing are already surpassed by the open market.
One side eye-worthy note: KSI are really keen to hand over stock options to management. Like, really keen.
First Mining is worth watching in and of itself, having also doubled since April, adding a good $120 million to its market cap in that time. Solid work.
Are you sitting on your own crazy riser? Tell us in the comments.
— Chris Parry
http://www.twitter.com/chrisparry