Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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No thoughts, highly unlikely scenario.
Hi All
Any thoughts on Glencore offering to buy us out with an all share offer?
From today's Glencore RNS.
"The Company will hold the repurchased shares in treasury. Following the above transaction, the Company holds 1,373,568,731 of its ordinary shares in treasury and has 14,586,200,066 ordinary shares on issue (including treasury shares). Therefore, the total voting rights in Glencore plc will be 13,212,631,335. "
yes. I also think the most likely scenario is that zanaga is on the 15 project list under evaluation and will be sold off. could be interesting next period finally
Sadly I do not think Glencore have an intention of acquiring Zioc, certainly not to develope. Glencore just do not do greenfield - that has not changed and will not change.
There might be a scenario, as nibj says, where Glencore agree a sale in secret and do the dirty in a way by buying out Zioc knowing they have a sale lined up at a higher price, but I'm not sure what will happen.
Far more likely in my view is that Zioc is one of the 15 Glencore assets under review for disposal.
Let's hope it is one or the other, as our patience can only last so long. We all have a finite number of years left in this world!
I had hoped Gary would review things sooner, see post on 22/07/2021, but I guess this review is 'quick' for Glencore. In their 02/12/2021 Investor Update there is no mention of Iron, it would seem that Glen is only interested in a future in Copper, Nickel, Zinc and Thermal Coal!!! So perhaps the worst case is that the joint venture is one of the 15 projects undergoing "internal review" and we stay on the shelf for another 10 years. However, like everyone else I'm hoping Glencore have finally seen the light and will dispose of their 50% to a miner or buyout Zanaga before selling it as a 100% project.
"The miner also said it would temporarily raise its net debt to $16 billion, the top end of its target range, for potential mergers and acquisitions, but added that it does not have short-term targets." .... acquisitions could potentially be ZIOC?
and acquisitions could also be ZIOC, in the situation Glen want to have 100% ownership, to do a deal with China and Congo for future cutt of the cake
very good new ATG. for sure they always said that greenfield was not their long term strategy, so very likely zanaga is on the selloff list, and in my view very likely discussions has been taking place for a while
ATG thanks for that link. I see this as potentially being the break from Glencore we need before we can progress. Just hope we are on that list. Heading into my third year as a ZIOC holder & hoping for real progress in 2022. Iron ore seems to have stabilised after the autumn plunge.
Thinking of e-mailing Glencore to ensure they actually know they have the casting vote in the Zanaga project and perhaps they should consider selling it to put the money to use elsewhere
Whoops,left out the link..
https://www.mining.com/web/glencore-widens-review-of-assets-eyes-acquisitions/
Glencore widens review of assets, eyes acquisitions
Reuters | December 2, 2021
"Miner and trader Glencore said on Thursday it was in the process of selling 10 more assets, putting another 15 under review and considering acquisitions as it moves to refocus its portfolio on what it termed “commodities of the future”."
"It has 10 sales processes underway across its portfolio and 15 further assets under review which may not fit the long-term strategy of the company, it said during its annual investor day.
“Those assets that are not fit for purpose or subscale we would look to move out of our portfolio,” Chief Executive Gary Nagle said, without identifying the assets he was referring to."
## Zanaga is screaming out for a sale, come on Glencore!!