Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Nibj-
Stick, twist, fold.
IYO?
Nb- The company also FINALLY responded to a email I sent!!(must be something in the air).
Gla.
Agree and reading MM comments on the other board, it looks like it could be in their plans
Surely it would be better they did this officially and broadly. Having say 100 people ring up for personal reassurance is not a good use of time? I hope they do do an investor call ..
I had a long call with the company. Dont want to mention anything from the call, as I see those to be one on ones, but got a good detailed talk about recent RNS messages and FS report. I can recommend in case you are in doubts about the RNS released last 6-12 month or have questions to them, that you book a call.
Mer
I was referring to your comment about not having heard from Marty the CEO.
Sorry wrong James Lewis !
11 years old - he got 2 years btw
Oops!
.."FCA bans Lars Windhorst’s long-time broker James Lewis Founder of Shard Capital provided incorrect information about clients’ cash balances.."
This has been around for a while, publicity right now is hardly helpful, though : it's not as though the FCA makes many headlines for DOING anything...
;-
Marcus
See Shaun’s post below
Strategic investor by end of Q1
I was Right
In 2014 Xstrata had an option to buy the whole project based on FS results. Probably the same here.
“Following the acquisition of full ownership and control of the Zanaga Project we are now engaging with strategic entities interested in participating in the Zanaga Project, and intend on securing a selected partner by the end of Q1 2024”
What changed? Maybe FS report delayed by a couple months perhaps. External factors, governments etc all have to be aligned.
They did not promise a strategic investor by end April. They promised a FS update, which was provided. Strategic investor they wrote would be announced in due time. In my view first they needed the updated FS as the previous one is 10 years old. As this is a large project with many stakeholders I think it is difficult to put and exact date when you hope to get an investor onboard as there is alot to be agreed on many parameters for an investor or investors who maybe would invest together. For me this can take 1 month or 6 months who knows, but as long as there is activity and it seems alot discussions with several partners according to the RNS, I am fine. Time has not been better in my view for years for high grade Iron ore
Thanks Marcus
I stand corrected
Still though CEO needs to invigorate PR to get this show on the road
You need to read the RNS from last week.
Marty Knauth, CEO commented:
"A large volume of work has been completed during the recent six months by ZIOC, MPD Congo and our consulting Partners, which I am very satisfied with. This detailed re-costing study further demonstrates that the Zanaga Project provides extremely robust returns for investors and significant infrastructure assets and positive legacies for the Government and people of the RoC. During recent engagements with RoC Ministries, communities and potential strategic investors, the burden of being the first mover in the region of high grade, low impurity iron concentrates for green steel production, is strongly supported and makes for an exciting future for Zanaga.
From this foundation, the upcoming FEED phase will not only seek to validate and enhance our technical confidence but critically, develop Zanaga's management plans around environment, community, training, health, water, mine wastes and ultimate closure. We believe these are equally as important as safe and reliable engineering, and financial viability."
Continued no news from board ( strategic partner due to be announced by end of April) means SP drifts lower like plankton in mid Atlantic
High time we heard from CEO whose been in position for some time now and uttered not a word to Shareholders.
""The company said the agreement strengthen the comprehensive strategic partnership between Saudi Arabia and China, established during the Chinese president’s visit to the Kingdom in December 2022.""
The big question is; will it be a strategic partnership between Saudi Arabia and China that finally acquires Zanaga. ??
https://www.arabnews.com/node/2505541/business-economy
As usual.....alwayshoping.
Https://www.arabnews.com/node/2504926/business-economy
RIYADH: Brazil’s biofuel market is set for substantial growth as UAE’s Mubadala Capital has committed to invest $13.5 billion over the next decade.
......
Oscar Fahlgren, head of Brazil strategy at the sovereign wealth fund, disclosed the budget for the initiative during an interview with the Financial Times. He divulged the details of the fund’s plans to produce renewable diesel and sustainable aviation kerosene primarily utilizing non-food plant matter.
.......
“It’s all about feedstock (which) in reality is agriculture. And Brazil is probably the best-placed country on the planet when it comes to agricultural proficiency because of the climate and the fertile soil,” said Fahlgren, adding, “Brazil is to agriculture what Abu Dhabi is to oil.”
.......
“It’s a very important capital project,” Fahlgren said. “I see tremendous opportunity to invest in the green energy transition space in Brazil,” he added.
.......
Mubadala’s venture into bioenergy will leverage its existing $6 billion investments in the country...
All grist to the investment mill...
GLA
being a zioc shareholder appears to be driving me insane but **** happens! i'm sure you have your finger on all the necessary buttons so please tell us what percentage of npv we can expect zanaga to be sold for? what have other iron ore projects sold for? atm i think my investment is going to be a huge disappointment or beyond my wildest dreams. i feel bad about introducing my son into becoming a zioc shareholder but he's heard me talk about it for the past 10 years and he's not stupid (and can afford to lose his entire investment). mr market currently sees zero upside.
Today's depeches reports that this project - a potential 600 Mw dam on the Congo-Cameroon border, is being re-opened to tender on a BOT (37 year tenure) basis.
For reference, C-B's current main power supply ex ENI is about 500Mw.
(1 )French TPF Group exited the Chollet project because of a lack of clarity re funding. The Chollet project has been encountering obstacles for at least five years. According to a joint statement of the energy ministries in Cameroon and Congo made public in September 2021, the Congolese side has been struggling to mobilize the funds it needs to carry out the project since 2017.
(2) Shortly thereafter, under a BOT (Build Operate Transfer) contract, China Gezhouba said it would build a 108m high dam, forming an 85m waterfall on the Dja River (also known as the Ngoko River), which flows through Cameroon and Congo before joining the Sangha River, itself a tributary of the Congo River. The project requires an investment of an estimated $700 million...
(3) Now the project is (again) being put out to re-tender, suggesting that China Gezhouba hasn't progressed matters.
(4) Interesting because this is the same China Gezhouba that was also separately awarded two other dam contracts in C-B in 2022, involving Paul Obambi (Sapro Mayoko) and his Energaz subsidiary, see
https://www.enerdata.net/publications/daily-energy-news/chinas-gezhouba-group-will-build-two-dams-totalling-331-mw-congo.html
25 MAY 2022
"The Congolese government has signed an agreement with a consortium of Energaz, a local company, and the Chinese state-owned construction and engineering corporation Gezhouba Group (CGGC), to build the 230 MW Morala and 101 MW Nyanga hydropower projects in the south of the country, with a combined capacity of 331 MW. In addition, the two companies will rehabilitate* a 19 MW Liouesso hydropower plant, commissioned in 2017. Hydropower accounts for 28% of Congo's installed capacity with 214 MW (2020). "
Lots of photos of Obambi shaking hands with Little Den at the time.
*The 19.9-MW Liouesso hydroelectric plant on the Sangha river was constructed by the China Gezhouba Group itself, at a cost of about US$110 million.
So Gezhouba won a contract to rehabilitate a dam that it had commissioned 5 years earlier. Two years on there's no news on progress re the other two dams, at Morala and Nyanga.
Perhaps fortunately, ZIOC's hydropower requirements are being looked at by China Machine Engineering Corp CMEC.
Ho hum.
...by 0.79% just to get it into round figures. Also persuaded my son to invest 10% of his capital on the grounds that he will at least double his investment whatever happens. My stockbroker thinks current value is 21p and that's bleeding obvious! If it's that obvious I'd expect some more money being invested by their more adventurous clients but WTFDIK?
No sign of strategic investor now 3 days at least late after months of negotiations
Time to reveal all imo
Yep, someone piled in with £40k this morning. But reported late.
Stake build?
500k trade reported late. It is being held. Load up one last time.
And, on a less facetious sporting note, the Congolese sporting talent is overseas because of things like this - concern over where the national team may have to play its qualifiers for the 2026 World Cup (hint : not at home, as things stand) :
From today's depeches :
.. The Congo has eleven stadiums, but none of them has been approved to international matches.
The Alphonse-Massamba-Débat stadium, which was keeping up appearances after its provisional approval is not currently on the list of grounds selected to host the next World Cup qualifiers.
Updating is possible, subject to the stadium inspection procedure of the Confederation of African in force.
The country could avoid the ordeal of relocation if the authorities start work on the work on the Alphonse-Massamba-Débat stadium. Its artificial turf that no longer meets standards needs to be replaced by a new one. Since the Fifa alert
warning in September 2023 work has not begun.
Playing on a neutral pitch is expensive for the home team, because of the extra costs involved in travelling away. This is a
disadvantage for them as it is difficult to pick up points without the home crowd support that is often called ' a twelfth man...
Speaks to the dire state of the economy....
ATB
And now I'm with Jiving on this!
.." Not only is the FEED suggestion likely a teaser to entice broader bids, quite possibly so also is the whole Marty start-up, buy-in project: designed to squeeze out bids for a full buyout without blatantly stating that goal..."
If you look at his full linked-in experience, Marty looks very much like a 'troubleshooting gun-for-hire'.
His last reported job, before joining ZIOC was
Glencore
1 yr 2 mos
Head of Strategic Projects - Africa
Jan 2022 - Sep 2022 · 9 mos
Establishment of strategic project definitions, estimates, leadership and controls for KCC and Mutanda [in 'problematic' DRC ] to achieve their full potential.
He may well have been 'consulting' for GLEN > ZIOC on the Project since ZIOC's acquisition process in Nov/Dec 2022.
His linked in job at ZIOC started in Nov 2023, his appointment was only RNS'd 5 days before the AGM, on December 14, where Elphick says that .." Marty brings extensive experience in project development, operations and transformational growth phases in the mining industry. These positive attributes are essential to moving the Zanaga Project forward, especially in light of the recently announced strategic objectives of the Company."
He hasn't joined the Board 'yet' - " will not be joining the Board of Directors at this stage, but a potential Board role will be considered in the future..." and his compensation package hasn't AIUI been disclosed - but would have to be in the FYE Dec 2023 results.
And, maybe the clincher for me, suggesting that this isn't a long-term posting for Marty : the Federation Congolaise du Rugby facebook has a massive 1,900 followers...and, as with soccer, most of the Congolese rugby talent plays elsewhere.
Just my take on things
GLA