Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. 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.
But why do an updated Corporate Presentation if a deal is done, ATG?
You only do a Corporate Presentation to attract possible new investors. Personally I don't take that as a good sign, and instead a sign that they are still in the seemingly endless "finding a strategic partner" stage.
I hope I'm wrong though.
Not expecting it in a day, Jiving š. All it takes is a bit company PR and some national rag to run an article, this would go ballistic. This is so unbelievably pent up..
ATG I would be happy with 9p by close today, but investors dont seem to be biting on the FS news. I wonder if the company will start pitching to specialist fund managers as well as PI - after all back in the days of the 156p IPO we had institutional investors including specialist mining funds among our core investors.
Yes that would be a good start, bring it on!
Time to close that 12800% gap to NPV, and yes we won't get it all (I know, I know š); let's start with an initial modest target of a tenth of that, say 1280%...90p odd..
Time to fly, Mitsubishi leak forced their hand or they were going to do it anyway?
So, is the deal done and the gag lifted? Incoming investment imminent? Looks like it !
From MM on the other board:
I understand that ZIOC plan:
An updated Corporate Presentation,
Proactive interview, and
A possible investor call to include Marty.
If he's misremembered Mitsubishi for Mitsui, the latter has an equity stake in Binding Solutions Ltd, the pelletising specialist where Trahar Senior (ex AngloAmerican CEO and then Chair) is a shareholder and was a Director for a while...
I believe that ZIOC did some work with them about 6 years ago
https://www.lse.co.uk/rns/ZIOC/pellet-test-announcement-ivf3a91en5p15hw.html
https://bindingsolutions.uk/2022/03/03/binding-solutions-secures-equity-investment-from-leading-asian-
conglomerate-2/
BSL's 2 most recent news shows they're progressing their cold pelletization technology at pace.
These are the other shareholders
https://bindingsolutions.uk/about-us/#strategic-partners
The Director Belleau comes from Champion Iron, where GLEN has a stake and Jyothish George (former Head of Glencore Iron Ore Marketing) is a Director.
'Maybe, baby..?'
GLA
Intriguing how the Advisor to the Mozambican Minister for the Economy & Finance thinks Mitsubishi are specifically involved in the expansion of the Zanaga Iron Ore mine.
Naturally i have no idea but just thinking it is strange we never heard before of mitsubishi. just my personal view
I also dont recall this in the past. the guy posting has been in his role in ministry in mozambique since 2022, so if it is his own article this could be recent. wonder if there is already someone on board.....
Cat out of the bag perhaps..
Great find nibj, I canāt recall Mitsubishi ever being linked with Zanaga. The article was written less than 3 weeks ago!!
Did anyone hear about mitsubishi investing in the past in zanaga? #3 in the link
https://www.linkedin.com/pulse/top-5-japanese-companies-investing-africa-fabio-scala-cav-osi-p5gxe/
.."Now that some numbers at least are in the public domain, let's see what happens!.."
And I see from t'other site (MM) that ' AT has been communicative. I understand that all the Strategics have received the full FS report and recostings *but* under NDAs as you might well expect. Of course this makes them insiders and hence they cannot buy ZIOC shares - at least not yet...'
If they've already been primed to expect the info, we might start to see some newsflow pretty soon.
GLA
Under 4% P/Al/Si impurities.
Combined with a JORC compliant reserve of 2.1 bt, Environment Permit, Mining Licence and Mine Operating Agreement all in place and legislated, proximity to port facilities and very supportive Government and community, Zanaga is readying itself for the world stage
Marty has some great commentary on the RNS on LinkedIn. Looks like Zanaga also have their own page/account now..
Zanaga Iron Ore Company's recent cost update Study represents a firm foundation from which to progress the Zanaga Project.
A comprehensive market inquiry was completed for the long list of identified materials and services for both construction and operating phases, culminating in detailed estimates of capital and operating direct and indirect costs.
Once producing, Zanaga's concentrates are expected to be some of the best globally available for low carbon steel feed, with qualities between 66.0 - 68.5% Fe and
Although Iām sure Mr E doesnāt need me to defend his actionsā¦
Realistically what the hell more can he actually do?
Think of it as ābuild it, and they shall comeā, well the 2014 FS was well out of date(and nobody came anyway), so heās trying ārebuild it, and they shall comeā in a very pro āgreen steelā moment.
There was never a chance of us being able to develop the mine ourselves, so we have only ever had 2 options-
1) buyout
2) buyin
Neither option is directly in his hands to achieve.
He can only market us to the best of his abilities, which I believe he has done, by the restructuring & the re-costings exercise.
This whole process was never done with the consideration of the share price(and by extension us PIās)(and of course the company doesnāt directly benefit from PIās trading shares on the open market)(unless the companyās aim is to raise money through equity(impossible for a company with Ā£50m MC to raise the billion odd needed anyway), it was aimed directly at investors/partnersf to do one of the two options listed above.
My belief is the company went through this whole process at the behest of a new investor/partner(s)
Guess we will shorty find out..
Gla.
Gargan Gupta and Abu Dhabi incoming is my prediction.
That went will didnāt it Mr Elphick?
Massive increase in project NPV yet the shareprice marginally down on the day -the market clearly thinks this is a repeat of 2014 (at least there was a shareprice peak then) when last project economics were announced and nothing happened.
Please consider a deal in that results in a shareprice circa Ā£1 to Ā£2 is better for Glencore,yourself and other shareholders than holding out for a higher price and realising nothing .
Almost double the NPV and we are down 0.39% (7.75p). Broken market.
Hi Jiving,
Agreed : every buyer will have their own view of what constitutes for it/him a 'risk-free rate of return' - as a baseline - and what non -financial factors to include (and with what weightings) when looking at each investment.
And I'm in absolute agreement with your concluding remark : ' Of course any investor is likely to pay a discount to NPV but it will be a discount to 2024 NPV not 2014 NPV.'.
Now that some numbers at least are in the public domain, let's see what happens!
ATB
Country risk is an important valuation issue, but in the modern world it works both ways. In theory African projects should be discounted for political risk vs Australia/Canada. But China for example wants to strategically disassociate itself from dependence on US allies for essential commodities, so in reality where can they turn for major projects but Africa? China therefore clearly accepts African risk, as it appears do the key ME investors from both public statements & financial commitments. I see even the Japanese trading houses are re-assessing their unwillingness to invest in African projects. Where are the other sizeable high grade iron ore projects that are in at such an advanced development stage they can move rapidly towards production - beggars/choosers.
We have waited a gruelling 10 months for these figures, and at an 80% overall increase in NPV they are way past my wildest hopes of around a 50% increase. They clearly mean nothing to today's market, but Clifford Elphick has made everyone wait for them for a purpose - they are the basis on which he will conclude a strategic investor agreement. Of course any investor is likely to pay a discount to NPV but it will be a discount to 2024 NPV not 2014 NPV.
.."A thought experiment for you extrader...be honest..has your personal notional target for the value for Zioc doubled on today's news ?.."
No, as I said, "I believe folk like us will be squeezed out pretty soon and -all things considered - I think my 200p per share entry in the 'charity sweep' is well under-pinned.." ie unch but more confident.
I think the country risk discount has got worse on various measures - succession; corruption; mis-management; popular dissatisfaction - and (paradoxically, BECAUSE the cake has got bigger) there's greater prospect of 'foul play'. I can't guess what form that might take, but the bigger the prize, the more incentive to figure out how to snaffle it....again, I'd refer you to the shenanigans over Simandou.
Maybe I'm just the tenth man.
https://insightbeforeaction.com/the-tenth-man-rule-principle-explainā¦
ATB