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jeez..
You're not bonkers when you talk about a race against time for this project to beat the next downturn. But talk of "sheeple news" does smack of arrogance. - a quality often observed when it comes to discussions about ZIOC. Are ZIOC investors really that clever? Not according to simonthezealot to whom we must all be grateful for pointing out all the risks we thought we knew about already.
Are you bonkers? Nuclear War will be slightly more than a 90% + correction. I recommend you buy baked beans and forget about your shares in Zanaga which won't be developed for another thousand years. Sad to see simonthezealot's negative view seems to be prevailing for which I can only blame the ZIOC BOD. Sub-8p is a disgrace and only encourages more punters to sell. For my part, I'll be grateful to exit with a 50p offer which would solve all my problems but 100p would be life-changing. 300p would be even better but what are the chances? I sense we're heading for a huge downturn as Climate Change impacts on Growth and Survival changes everything. But you'd think Iron Ore will still be required so I remain invested.
https://lesechos-congobrazza.com/economie/6615-droit-de-reponse-paul-obambi-conteste-vivement-l-arret-des-activites-minieres-de-sapro-a-mayoko
(25/01/20)
Right of reply: Paul Obambi strongly contests the cessation of Sapro's mining activities in Mayoko
"Sapro Mayoko strongly disputes these allegations, which amount to a smear campaign against which the company and its staff are victims. Indeed, the company SAPRO Mayoko continues its activities in Congo Brazzaville with the support of local populations and its partners both national and international who all aim to make Congo a major player on the iron market."
Hi Maske2g,
Even if Bloomberg gets in ?
Sorry for o/t - but v interested !
ATB
Have you been watching the news at all??? That virus you are dismissing is spreading like a wildfire, Wuhan, which is a major industrial city of 11m people is in complete lockdown along with a host of other cities. If the situation gets worse of course it will have a big impact on China's economy, demand for iron ore, funding for belt and road etc.
Just Simon showing his true colours.
Simon are you still holding shares in Zanaga ??
We’ve heard it all before Simon. Bore off!
The only meaningful 'writing on the wall' was the RNS of 11 December announcing the long awaited crucial agreement with COIDIC. The Chinese are long term investors looking out to secure commodity supplies 10-30 years hence their Simandou investment & their clear interest in ZIOC.
Coronavirus is the least of your problems imo. The writing is already on the wall with this one I'm afraid to say. It is all in the detail which most of you are ignoring. Classic denial syndrome which we have all witnessed on AIM.
The coronavirus situation seems to be worsening in China, hopefully it won't put a spanner in the works
Sorry didn't read the report right. I thought it was strange that Glencore were involved in Sapro.
I think you'll find that the only link is that the port Sapro was planning to use is also the port that GLEN/ZIOC plan (ned) to use...
Congo Republic Ships First Iron Ore from Upgraded Port
Tue Apr 23 08:40:20 CEST 2019 arnekiel
(Reuters) – Congo Republic shipped its first iron ore exports on Friday from a rehabilitated deep-water port that will be used by Congolese billionaire Paul Obambi’s Sapro SA and Swiss commodities giant Glencore.
Sapro mined the oil-dependent Central African country’s first iron ore in 2017 from its Mayoko project in the southwest and plans to reach output of 12 million tonnes per year by 2022.
Glencore’s joint venture with British Virgin Islands-incorporated Zanaga Iron Ore Co plans to ship 2 million tonnes of iron ore per year through Sapro’s port and rail link over the next two years, and 30 million tonnes by 2024.
Hi Extrader. If you google Sapro Glencore there is a Reuters report from April this year which covers it. Sorry can't seem to copy paste the link from my phone while abroad.
Hi jw1952,
Could you provide a link, pls , re GLEN link to Sapro ?
If you believe the goss ( the unlamented Minorminer certainly did) , there should be a lot of cash looking for a home...
https://aaccargo.com/en/2019/04/23/congo-republic-ships-first-iron-ore-ahead-of...
23/04/2019 · Sapro, the Congolese government and British shipping company Ashley Global are also spending a combined $550 million on rehabilitation to Pointe Noire’s deep-water port, the Mayoko mine and an old railway track connecting the two...
TIA and ATB
Sorry meant Glencore not Gleview and Sapro not Sale. Stupid predictive text!!
Glenview is a part owner of Sale I so maybe they have decided that rather than throw money at the Sapro mine to put money into Zanaga instead, otherwise they would be competing with themselves. Just a thought. Things are beginning to piece together nicely I think.
Hi atg,
Thanks for this. An extract that reminds us of the challenges re transport...
…"In May 2018, Sapro's first-ever 20-car mineral train crushed a sixty-year-old near the town of Mossendjo. In the same month, Sapro's second mineral train derailed between Mayoko and Tsinguindi station in the southern Niari. Six cars loaded with several tons of iron ore came off the rails and overturned. And even the train sent for troubleshooting broke down a few kilometres from the derailment site. Damage from the accident amounted to several million CFA francs, including damage to cars and rail infrastructure.
In December 2018, Sapro's third mineral train from Mayoko was stopped at Dolisie station due to lack of fuel. According to a reliable source, Sapro is also indebted to the Congo Ocean Railway (CFCO).
Last April, some twenty-three thousand tonnes of iron extracted by Sapro Mayoko SA were loaded into Ashley Global Shipping's Ivy Ocean boat bound for China at the Pointe-Noire Autonomous Port....."
There's been no follow-up announcement that the shipment made it...….jes' sayin' , like....
Ho hum
ATB
https://lesechos-congobrazza.com/economie/6609-mayoko-sapro-annonce-l-arret-de-ses-activites-minieres
(22/01/20)
Mayoko: Sapro announces the cessation of its mining activities
Next week, next month, in 6 months, not a problem for me.
Its a damn good hold at this price, and the potential pay off for another 6 months of patience is well worth it
Very true, a little more patience required, the end result should be worth it!
That will still be a fast turnaround for the amount of work that’s going to be required. Though we don’t know how long they’ve been in talks.
I still think it will be Spring. Quite a lot for Coidic to do. It will happen but I feel not just yet imo
I strongly disagree about what you say about a personal agenda Aberdeenman. Balanced investors know that they must understand negative aspects and risks associated with an investment and so it's OK for people to express them. To accept only positive info from bulletin board cheerleaders is symptomatic of blind cult following.
Far worse than bulletin board sceptics IMO are the cheerleaders and permapumpers who relentlessly promote duff stocks and report naysayers to LSE, etc to try to get them suspended. There was an obvious scam stock called Cloudtag (CTAG) a while back with an army of such characters. One of them was DavidGeece and another was you Aberdeenman. Do correct me if I'm wrong.
I was one of those sceptical of Cloudtag and now that it has swallowed 100% of investors' cash I can say I was right and you were wrong. I get myself suspended sometimes but it's worth it if folks are saved from scams. So let's not pretend that nobody knows about your past Aberdeenman. Enjoy ZIOC but please let's not try to mute the sceptics, eh?