Written by Pinnacle Digest

Zenyatta Ventures Ltd. (ZEN:TSXV) rose another 10% Wednesday to $2.97 per share on over half a million shares traded. Zenyatta Ventures has likely outperformed every other stock on the TSX Venture this year. Zenyatta traded at just $0.145 per share in June and July of 2012. In Zenyatta fashion its stock hit a 52 week high today, a day that saw the TSX Venture implode, giving up another 2.44% to close at 860.84.

The TSX Venture is putting together one of its worst weeks in years and despite the seasonal weakness so prevalent at this time of year, it seems something bigger is afoot. Usually the Venture has a few bumps on the way down. This is a straight free fall for those still hanging on.

Zenyatta Ventures shareholders must feel like they are in a dream. As other junior miners are burned alive as the Venture collapses they remain encapsulated in a protective shield of success and price appreciation. The TSX Venture is down close to 50% year over year, while Zenyatta is up over 1500%. While it may seem unfair; there is always a degree of luck involved when it comes to mining discoveries, Zenyatta management worked extremely hard to make their world class discovery.

Zenyatta is developing a very rare hydrothermal or 'vein-type' graphite deposit it discovered in 2011 in northeastern Ontario, Canada. It is the largest and only known graphite deposit of this type under development in the world. Globally, the only graphite mines of this type are located in Sri Lanka, which have been in production since 1847.

http://www.pinnacledigest.com/blog/pinnacle-digest/zenyatta%E2%80%99s-dream-year-continues-rising-10-wednesday-new-52-week-high

Ed