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'The BoD are in at higher levels vs today' : at the time of the IPO , for 22odd million shares IIRC, the Directors sold another 22 odd million, thereby recouping a large %age of whatever they'd paid out as venture capital. They haven't bought any shares since then, to my knowledge. 'They invested a lot of money from the IPO...' Yes, the PI's money, not their own. And then Xstrata's money , in return for Xstrata getting a share of Jumelles.
What ZIOC is bought for may be broadly linked to its perceived 'worth', but depends very much on who/how many potential buyers there are; whether they compete or agree a 'buyer's strike'; whether they have the ability to frustrate/frighten off another prospective buyer, etc etc. It's not difficult to imagine a combination of interests that might get together and make ZIOC an 'offer it can't refuse'.
And you can't necessarily count on GLEN for protection : read up on how Glasenberg stitched up MIck Davies over GLEN's merger with Xstrata that turned into a takeover...
OTOH, COIDIC's 'project management' involvement gives some cautious grounds for optimism that at least we're moving towards the end game....The present global disruption may bring it closer.
hi extrader. true that BOD did not pay 1.56 but they are in at higher levels vs today, and they invested alot of money from the ipo to investigate the ressource. I dont think you can put a pricetag on zanaga based on the limited trading on AIM. The pricetag will be based on what a 2.1 reserve 65+FE is worth for a buyer. lets not forget glen. they are fully aware of what the mine is worth for the right buyer, and I dont think they will let it go for peanuts. I still believe there is a larger reason behind the frame agreement with the chinese, as I dont think they would use any time on this for free, unless they have a bigger plan in their minds.
I’m afraid you’re anchoring. The BoD didn’t pay anything like the IPO price, that’s what they SOLD at, to get a chunk of their ‘seed capital’ back... The only relevance of £ 1.56 + is if you believe they are concerned about the IPO subscribers (about 10% of shareholders) making a profit...
If my economic value yardstick was a classic car, forinstance, and its price fell by half in view of present circs, would I mind that much if I only got half as much for my ZIOC as I’d been previously mentally targeting ? Remember the line from Bridge of Spies ?
Q : Are you worried ? A : Would it make a difference ?
‘Cheap’ is relative. Most people see shares as a means to an end , to buy something else : a holiday, a car, a house, financial “security” or whatever. If ZIOC is bought for 20% or 40% or 60% of what peeps were hoping for, that’s only relevant relative to what you can buy / want to buy with the proceeds... In that boozer’s poem ‘ Rubaiyyat of Omar el Khayyam’, there’s a great line to the effect of ‘ I wonder what wine merchants buy that’s half as precious as the stuff they sell’....;-) ATB
IMO zanaga will not be prices based on the limited trading of the limited free float of shares. if you look at 1 mio shares traded normally per day, this is only 40k gbp value. zanaga will in case of an offer be prices based on what is the value of the ressource. the large share holders in zanaga, will not accept an offer of ie 15 p, even if it is 4x. alot of people are in from much higher levels, and the value of zanaga in terms of the ressource has not gone down since the ipo, but only gone up. it is not reflected in the current SP, but will IMO be i case someone wants to buy both our half and glencores half.
I think shareholders all agree that the current share price is extremely low. Given the extent of the drop during this difficult time for the markets, I wondered how this has changed/not changed peoples' share price targets? Is there a risk we will be taken out on the cheap for?
https://t.co/kX1tAHGYKn?amp=1 A spectacular upwards trend in global iron ore trade unfolded for almost two decades. But in the past couple of years signs of faltering have emerged, and prospects for 2020 are subdued. Following an article published by Hellenic Shipping News Worldwide on 11 March 2020, about the world’s rapidly expanding ore carrier fleet, this article looks in more detail at how iron ore trade has been evolving and expectations for the future. Steel industry features In many countries around the world steel is mainly produced from the primary raw material, iron ore. A two-stage production process combines a blast furnace making iron, followed by an oxygen converter making steel. This process contributes the largest proportion of steel output in China, Japan, South Korea and the European Union (the main producers influencing global seaborne iron ore trade) as well as elsewhere.
Iron ore consumed by many of the biggest steel producing countries relies heavily or totally on imports. Among these importers, iron ore derived from domestic mines is now a significant input only in China. Vast quantities of high-quality iron ore are transported long distances by sea to the main importers from the two chief suppliers, Australia and Brazil, accompanied by volumes from South Africa, Canada, India, Sweden and other exporters.
I dont see this being a pump via twitter. the activity on twitter was much more 1 week ago, and nothing today. My guess is that there are positive news coming. could be an offer or maybe even already sold:-) lets hope. I see huge upside possible here (and I am not taking 20-30, but 200-300). cross fingers
out of the blue? I wish coidic or the chinese were about to make us an offer, we can not refuse!. dare to dream. happy to see the bottom (if it was). Risers board a bonus ! gla Lots of news is due imo.