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The first - and this is the very first - official mention of China by the company has to be a huge positive.
We all still need patience, In my view, it will be 2021 or 2022 before this will fly - unless Glencore end up so desperate for money that they agree to sell.
Fingers crossed on that!
Nice Post Rizq :-)
"formally"
The major upshot of today's news...Zanaga's and China's interests are now formly aligned. The significance of this cannot be under estimated.
Few things of interest for me: this framework of development and jv or financing options are now very active so potentially more news to look forward to; secondly the scope of 2mpt to 5 mpt has been put out which means a bigger development in under scoping study which is good for cash generation; the potential to create a steel mill can mean the steel to be used here in conco or African development which means more profit for us; and lastly this is not a lifestyle company who are looking to fund a salary for themselves at our expense, yes they're painfully slow but you also know theyre not going to dilute us shareholders to the orbit.
If you've got time then research what's happening around Africa and Congo recently along with the demand for quality iron ore and then give yourself a broader investment horizon for investment if interested.
Now its over to institutional investors to validate what we private investors think, if they agree they'll be buying in and that's what's going to really move the share.
I'm happy with the update and happy to wait for it unfold.
Good luck holders
He has now...tweet out
If the Chinese were worried about corruption then why did they buy Simandou?
Or maybe the 1mt - 5mt will be testing the water in the country/with the government Etc.
Or maybe the Jumelles board don’t want to sell and are only interested in a JV, yet the Chinese don’t want anyone else sneaking in, therefore get involved by any means.
I think we’re in a very good situation.
The Chinese could also be playing hardball with Glencore to get a better price, they know Glencore will need to raise cash in the near term, they can squeeze them by delaying any buyout.
Aberdeenman
If the Chinese wanted to buy it out, they would have just bought it. That is how the Chinese work. If they want something, they don't mess around. They have very deep pockets. There must be another reason why they are treading carefully and that is no doubt due to the Gov't and their concerns about previous corruption etc imo.
Agree, the Chinese always want control, I still think a buyout is on the cards
I don't see the Chinese wanting to wait 2 years, do you? This RNS has pretty much assured that ZIOC will have the funding to proceed at full speed and whether a takeover or buyout is on the cards then that remains to be seen, but ZIOC' profile will definitely be elevated now following this news.
Onwards and upwards.
Just saying it how I see it. AT always said that he wanted to create a hub like scenario with the project and deep down I just wanted him to sell it off. The trouble with creating a hub like scenario is that you end up with multiple companies / jv's and people letting you down. Too messy for me and this would result in various agreements being set up and share dilution.
I personally think you are way off the mark Simon. The Chinese can still buy us out in the short term, watch this space, more is happening than is being revealed imo
Aint Simon a barrel of laughs this morning?
The rns didn't impress me much I'm afraid. Same old same with no guarantees and a convenient mention that their 1.5 mt EPP project has been reduced to 1 mt as a result of Gabon. Also a time frame of 2 years plus, so basically more can kicking and delays. Not a fan of equity/debt financing etc. I would have sold the lot to one company and not tried to encourage lots of fingers in the pie. The traders will benefit in the short term, but LTH's will just have to wait and sit it out on the sidelines as per usual.
DrR, from now on expect a lot of big developments to come thick and fast. The Chinese don't mess about. This will now be landing in the in-trays of fund managers everywhere.
I know Twitter is not really relevant to this stock, or any for that matter, but the fact AT ain’t put anything on in regards to this news probably means more substantial news will come quite soon. That is a really attractive News to any investor on AIM, surely there’s not many better opportunities on this market.
"Wow what great news!! Wasn't expecting this! Looking g for a push towards 20p soon..."
Academy, lol, 20p will only be the first rung on a very tall, steep ladder. It's game on finally.
Massive game changer and totally unique on AIM. Massively de-risked now with serious firepower behind her.
Wow what great news!! Wasn't expecting this! Looking g for a push towards 20p soon...