Zanaga Iron Share Price (ZIOC)

Today's depeches reports that this project - a potential 600 Mw dam on the Congo-Cameroon border, is being re-opened to tender on a BOT (37 year tenure) basis.

For reference, C-B's current main power supply ex ENI is about 500Mw.

(1 )French TPF Group exited the Chollet project because of a lack of clarity re funding. The Chollet project has been encountering obstacles for at least five years. According to a joint statement of the energy ministries in Cameroon and Congo made public in September 2021, the Congolese side has been struggling to mobilize the funds it needs to carry out the project since 2017.

(2) Shortly thereafter, under a BOT (Build Operate Transfer) contract, China Gezhouba said it would build a 108m high dam, forming an 85m waterfall on the Dja River (also known as the Ngoko River), which flows through Cameroon and Congo before joining the Sangha River, itself a tributary of the Congo River. The project requires an investment of an estimated $700 million...

(3) Now the project is (again) being put out to re-tender, suggesting that China Gezhouba hasn't progressed matters.

(4) Interesting because this is the same China Gezhouba that was also separately awarded two other dam contracts in C-B in 2022, involving Paul Obambi (Sapro Mayoko) and his Energaz subsidiary, see

https://www.enerdata.net/publications/daily-energy-news/chinas-gezhouba-group-will-build-two-dams-totalling-331-mw-congo.html

25 MAY 2022

"The Congolese government has signed an agreement with a consortium of Energaz, a local company, and the Chinese state-owned construction and engineering corporation Gezhouba Group (CGGC), to build the 230 MW Morala and 101 MW Nyanga hydropower projects in the south of the country, with a combined capacity of 331 MW. In addition, the two companies will rehabilitate* a 19 MW Liouesso hydropower plant, commissioned in 2017. Hydropower accounts for 28% of Congo's installed capacity with 214 MW (2020). "

Lots of photos of Obambi shaking hands with Little Den at the time.

*The 19.9-MW Liouesso hydroelectric plant on the Sangha river was constructed by the China Gezhouba Group itself, at a cost of about US$110 million.

So Gezhouba won a contract to rehabilitate a dam that it had commissioned 5 years earlier. Two years on there's no news on progress re the other two dams, at Morala and Nyanga.

Perhaps fortunately, ZIOC's hydropower requirements are being looked at by China Machine Engineering Corp CMEC.

Ho hum.

...by 0.79% just to get it into round figures. Also persuaded my son to invest 10% of his capital on the grounds that he will at least double his investment whatever happens. My stockbroker thinks current value is 21p and that's bleeding obvious! If it's that obvious I'd expect some more money being invested by their more adventurous clients but WTFDIK?

No sign of strategic investor now 3 days at least late after months of negotiations

Time to reveal all imo

Yep, someone piled in with £40k this morning. But reported late.

Stake build?

500k trade reported late. It is being held. Load up one last time.