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GGG,
"We now sit here wondering whether it's complete bull****, or if genuine discussions are taking place...."
Hit the Nail on the Head ..... (not that Pinocchio would be too keen on that.)
Thanks extrader. Always appreciate your anecdotes and opinion. I'm of the same opinion regarding bod taking this private. Either way they'd need to make it attractive enough for PIs not to start a riot (I'd be swinging a pick axe myself), which would still be at multiples of our SP at the moment.
What do you make of the 'news' regarding the approach by several Chinese entities interested in financing the project? It's funny, if this statement was made a few years ago the sp would have been in the 50's. We now sit here wondering whether it's complete bull****, or if genuine discussions are taking place. I want to believe that Chinese entities have been working closely with ZIOC and they're beginning to sharpen their pencils. And I'm telling myself the news delivered to EUA shareholders before their stratospheric rise wasn't all that dissimilar to what we're hearing now.
As for Moz, not sure how I feel about the news to be honest. There's some good, alongside a few red flags. By the market reaction today I'd say most feel the same way.
Hi G_G_G,
Some better news from Moz, let's see what happens here ;->
(1) Skulduggery has always been a risk at the back of my mind - but more from a local with smarts/connections : just find a pretext ('unpaid fees'; 'breach of - cough - stringently upheld environmental regs') to revoke/suspend/otherwise impair the asset, see the stockmarket swoon and buy from distressed/panicked investors. The saving grace here (I think) would be that GLEN and the major ZIOC shareholders would fight their corner.
And even in this scenario, one might not lose out : one of my better investments was in Nigerian Par bonds, where somebody tipped me that - after threat/prospect of default - a sizeable chunk of the outstanding had been quietly picked up by 'connected' locals......making the risk actually much better than it seemed.
IIRC, the Pars had a coupon of 6.25% and could be bought for 40cents in the dollar. They paid for my 2 x kids at public school.
(2) As to BoD stuff, I would like to think not. Elphick has a name/rep to protect, both in the UK (GEMD) and, probably more importantly to him, from a 'society' PoV in S Africa. See https://www.miningmx.com/rainmakers/profile/26
That's my belief/hope, anyway. I've only met the guy once , at an AGM, but our limited exchange didn't contradict the above impression.
I'd prefer this not to be put to the test, natch ;-> !
ATB
That would be extremely morally wrong, people have been invested here years, paying to keep the companies lights on. Though like you say, when it comes to money, never underestimate anything or anyone. Lets hope these parties they are in talks with come up trumps.
I raised this controversial viewpoint years ago but was shouted down by MinorMiner and his cohort. It's an interesting question - What's to stop this company being taken private for next to nothing? I know it would look terrible from the outside, but since when do people who have offshore bank accounts and trusts care about PIs (or tax payers for that matter)?
Thoughts welcome. Extrader, it would be good to get your thoughts on this matter.
Yup, Hotel California...ain't no lie.
Andre01,
Thanks .... Sometimes I think that the only clever investors are the ones that aren't in ZIOC.
I'm a relative spring chicken .... only been waiting 4 years.
atb
Or try Solgold (Solg). £100bn proven in ground gold/copper/silver resource. PFS to be released any day now (due end September). Get this mcap only £530m!!Sp is Nuts...the PEA had a project NPV of £4.5bn, this should improve with the PFS.BHP and Newcrest already holders in SOLG.
NewKOTB - Keep the faith. NCYT and EUA in 9-14 months have done circa 2000-4000% rises, Im in the latter and sold out way too early on the former. This will come good and dont see it going for less that £200m even low ball but probably £500m minimum. EUA is sat at circa £600m mcap and has known half the resource value $30bn plus proven towards $100bn potential, this has $70bn here. I haven't looked in for months here with an average near 10p.
Like many I'm disheartened with constant lack of meaningful tangible progress .... this is being lined up for a low ball t/o, probably by a PE backed entity imo ..... for them to flip it for many, many multiples for which they acquired the ZIOP. The odds of any shareholder here seeing +100p is exceptionally low atm. I'm more and more leaning towards a takeout at around 31p (£90m) .... ( or around +500% from current SP ) then watch the project fly. Persistent lack of SP traction is telling.
Really, really hope I'm way off with my assumption, but the little guys very rarely win big ....
aimo
If I was a major founder co-owner here, I would agree with my co-founders to sell some shares and lower the sp. Then buy out the company and go private. Then tell Glencore, call us when there is a serious offer. At this stage, imo, staying listed serves no purpose. Re-doing previous studies is pointless work creation and money burning.
Red flag for me, paying suppliers with shares. May as well hang up 'do not resuscitate' sign.