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Sorry advfn
From emptyend - lse
Lets be clear: if this project is going to progress, then one of the steps along the way will involve Zanaga getting taken out. Anyone who thinks that RNSs will give them any clues in that regard needs their head examining.....
The macro picture is unchanged. Iron ore is in high demand, this project is a very low cost source and, when China (or some other party) decides it will happen, it will. My guess is that will be in the next 6-9 months.
My feelings also
Thats how I see it NewKOTB, take advantage of the dips and ride it out, One of Africa's largest ore find's is still there and its not going anywhere..... well yet anyway!
Shard, still got the last tranche away at a higher price than today .... so someone is still happy to buy and sees the future a lot brighter than today.
PS Added a few more today, although maybe a little to early.... still happy with price.
ATB
Spread is usual ~10 to 13%, traders trying to make a fast buck, difficult with such a large spread... no rush for the exits as lth, will continue to hold and accumulate.
Nothing has changed, SP to recover forced drop on the few tiny sells this morning.
aimo
Nothing has changed ... period.
Imo, still on track to deliver, eventually ... in the meantime, the SP will be played as it is atm.
aimo
Other than the end of the license Merry!
Weeks?
It's been weeks away for the last 3 years plus.
Nothing is any closer then when the permit was announced.
The fact they’re releasing the other 7 million share tells me nothing happening
I agree with the idea that the RNS is consistent with the existence of topics they can't mention at this point. I was once a director of a company that had to put out a TU whilst there was market speculation on a takeover - which we'd be working on for month. We were forced to put out a flat TU with no hint of anything to come, followed just 5 days later with news of the acquisition. Sometimes timetables can be a problem. Perhaps the NOMAD here has insisted that the cost re-estimate is released, regardless of other activities underway?
Speculation not analysis!
We need to be reading between the lines here I reckon.
One could easily be forgiven for disappointment selling this morning. BUT! I sense a bigger story about to unfold here over coming weeks.
We KNOW Glencore are a keen seller at the right price.........................
Watch this space!
Can’t say I’m surprised. Contacts in RoC have said nothing is going on and that the locals and Chinese do not understand Glencore’s reluctance to mine. Iron ore has never been so expensive and if they still think it isn’t viable then why not give it away? Or have it taken away.
No mention of COIDIC again.
No mention of discussions regarding a potential transaction.
People will say they can’t talk about things but they have to disclose anything that may be price sensitive.
Put simply, in 8 months we have nothing to report other than successful dilution and a disappointing review of costs (which AT said himself he hoped would deliver approx 10-15% savings).
All while spending winter in Dubai on expenses.
If you have no plans going forward then why would you carry out a recording?
There was no clue as to how these recordings will be used and to me it just seems something they have done to justify what they are getting paid for.
For me this is a positive RNS in that the expenditure required has now been validated effectively at 2021 rates. What's more important is where this leads to and I feel its not too far away...Coidic agreement was for 2 years and that expires end of this year...we know there are lots of activities taking place in C-B and the Chinese have taken control of the Sundance mines...These talks will take time due to the sheer size of Zanaga and huge investment required... I personally willkeep the faith in that things have progressed with Coidic and at some point in the not too distant future it will be sold...
my read is there are things they cant mention. As they dont give any status on coidic or talks with potential investors as stated in the RNS 29 september, I think is very strange. they could have said, we are not currently talking to coidic etc or we are still in talks. Strange. Smells to me like they have been told clearly to stay silent on this point.
Like buses! Should have known the Shard RNS would follow
Interesting RNS. As much for what is not there as for what is included. A couple of points that stick out for me on first reading:
1. "Capital expenditure expected to range between -2.9% and +2.5% of the 2014 Feasibility Study estimate" - capital costs for major projects have increased materially in the last 18m, partly because of the increased cost of steel and other basic materials. To show no overall increase from 2014 levels looks like a real-world decrease to me.
2. Interesting to see that the floating port idea hasn't been included.
3. Presentation of the updated reserve estimate is referenced, but they haven't included the previous figures for comparison. A pet hate of mine... Does someone have the "old" reserve estimate figures to hand? It would be interesting to see the difference(s) laid out clearly.
4. Absolutely nothing, nada, zilch, not even a hint on any discussions underway