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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.
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."
Thanks Marcus
I stand corrected
Still though CEO needs to invigorate PR to get this show on the road
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
“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.
In 2014 Xstrata had an option to buy the whole project based on FS results. Probably the same here.
Marcus
See Shaun’s post below
Strategic investor by end of Q1
I was Right
Mer
I was referring to your comment about not having heard from Marty the CEO.
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.
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 ..
Agree and reading MM comments on the other board, it looks like it could be in their plans
Nibj-
Stick, twist, fold.
IYO?
Nb- The company also FINALLY responded to a email I sent!!(must be something in the air).
Gla.
Driving I recommend you to take a call with them. My feeling is the new CEO is a good guy to have onboard and is skilled in the industry with lots experience
Nibj and driving signed NDAs of course..
S86- no nda here(can’t speak for Nibj), just nothing very interesting in the response from my 8th April email(also posted on this forum).
Only that Marty had commented on the recent update, and would be providing further updates going forward.
Gla.