Zincox Resources Plc Share Chat (ZOX)

‘ Moxico and Ajlan are exploring capital market options in KSA for a vertically integrated metals business, from ore extraction to refined zinc metal, to be pursued when market conditions and valuation multiples are favourable for listings on the Saudi Stock Exchange.’

Bottom Line

Moxico and Ajlan want to build a powerful zinc business in Saudi Arabia and eventually offer shares to the public. But they’re smartly waiting until the market is ready so they can get the best value and make a strong impact. It’s a move that supports both their business goals and the country’s vision for economic growth.

Https://www.moxicoresources.com/annualreport2024

I suspect Moxico will time their listing to coincide with the strengthening price of Copper.

From the annual report

Additional projects in Zambia and in other jurisdictions are continuously considered, with the aim to generate further long-term shareholder value. Concurrent to that, the Company is pursuing its plan to list on the London Stock Exchange, which is still expected to occur in 2022.

Obviously the listing has been delayed.
Copper prices expected to boom next year.

September 25, 2023

The Lusaka High Court has ordered Moxico Resources Zambia Limited and Euroafrica Kalengwa Mines Limited to pay US$ 21 million damages to Kalengwa Mineral Processing, the rightful owners of Kalengwa Mines in Mufumbwe district, North-Western Province.

This follows a judgment dated September 22, 2023, in which Judge Edward Musona declared Kalengwa Mineral Processing as the rightful owners of Kelengwa Mines and should, therefore, continue their operations.

He also ordered for Moxico Resources Zambia Limited and Euroafrica Kalengwa Mines Limited to pay damages to be quantified by the deputy registrar for the theft and pilfering of the plaintiff’s plant and equipment.

Current price 4.6255 USD/lbs

https://tradingeconomics.com/commodity/copper

Copper futures traded close to the $4.7-per-pound level, not far from an all-time high of $5 hit on March 7th amid a tight market as investors weigh lower supply from top producer Chile, disruptions caused by the war in Ukraine, and assess the impact of the latest Covid outbreak in China in both demand and supply. Copper output in Chile, the world's largest producer, fell 7% from a year earlier to 394,700 tonnes in February, following a 7.5% fall in January and a 1.9% decline in 2021 production. Meanwhile, Chinese authorities extended a lockdown in Shanghai, an industrial powerhouse and major port, further threatening global supply chains. Logistics operators report that restrictions are already making it harder to move goods around and keep factories operating at full capacity. Elsewhere, Peru's ministry of economy and finance said that the world’s second-largest copper supplier will target the excess profits that mining companies earned from rising metal prices around the world.

Goehring & Rozencwajg
2021 Q4 Market Commentary

Copper Inventories Draw
Favorable fundamental trends continued into the end of 2021. After surging almost 15% in 2000, China’s copper demand has fallen about 7% for the nine months of 2021, according to World Bureau of Metal Statistics (WBMS), however, most of this decline has been offset by growth in global copper demand outside of China. On the supply side, global copper supply has rebounded somewhat from 2020 COVID impacted declines, but copper mine supply continues to stagnate. Copper mine production today is only up slightly from where it was in 2016. Over the last six years, copper mine supply has shown minimal growth. Resil- ient demand and sluggish supply growth is now being reflected in global copper inventories.
Combined warehouse inventories of the Shanghai, London Metals exchange, and the COMEX peaked back in the summer of 2018 at almost 900,000 tonnes and declined steadily since. Today they stand at only 190,000 tonnes, a fall of almost 80%.
Back in the summer of 2005 combined copper inventories of all three exchanges covered daily global consumption by only 2 days-a dangerously tight situation, and it’s was no coinci- dence that copper prices surged 2.5 times in the next six months. Today, copper inventories cover daily consumption by only 3 days, and we are again approaching the dangerously low levels seen back in 2005.
Confirming the tightness in today’s copper market are the future market’s backwardation, defined as when commodity markets are tight and inventories are low, future prices will trade at big discounts to spot prices. Conversely, when inventories are sufficient, future commodity prices will trade higher than the spot prices-- a condition known as “contango.” In today’s COMEX copper future market, the July 2024 contract trades at $4.26 per lb. versus today’s copper spot price of $4.40—a discount of 14 cents to the spot market—which amply displays the tightness that crept into today’s physical copper market.
Copper prices have traded in a tight band over the last 12 months oscillating between $4.00 and $4.80 per pound. We believe we are setting up for the next big price spike. Investors should maintain significant exposure to copper related equities.

http://gorozen.com/research/commentaries

Q3 2021 Market Commentary.

We remain very bullish on global copper. Demand remains strong while supply growth continues to be challenged. Reflecting the ongoing tightness, global inventories continue to fall. Copper inventories at the London Metal Exchange, the Shanghai Metal Exchange, and COMEX continue to draw. After peaking at over 600,000 combined tonnes in the first quarter of 2020, inventories now sit at only 270,000 tonnes, having fallen another 100,000 tonnes in the last quarter.
Although inventories are not at critically low levels, last seen in 2005-2006 immediately preceding copper’s 150% price surge, they are getting close. Copper exchange inventories stand at less than four days of global consumption -- the third lowest reading in 30 years.
Copper markets are tight and likely getting tighter. Investors realize that copper is critical in electrifying large parts of the world, and analysts are beginning to realize the massive challenges of ongoing mine depletion. We believe the current weakness will prove tempo- rary and continue to hold our copper investments.

2021 Q4 Market Commentary.

‘ Copper Inventories Draw
Favorable fundamental trends continued into the end of 2021. After surging almost 15% in 2000, China’s copper demand has fallen about 7% for the nine months of 2021, according to World Bureau of Metal Statistics (WBMS), however, most of this decline has been offset by growth in global copper demand outside of China. On the supply side, global copper supply has rebounded somewhat from 2020 COVID impacted declines, but copper mine supply continues to stagnate. Copper mine production today is only up slightly from where it was in 2016. Over the last six years, copper mine supply has shown minimal growth. Resil- ient demand and sluggish supply growth is now being reflected in global Copper inventories. Combined warehouse inventories of the Shanghai, London Metals exchange, and the COMEX peaked back in the summer of 2018 at almost 900,000 tonnes and declined steadily since. Today they stand at only 190,000 tonnes, a fall of almost 80%.
Back in the summer of 2005 combined copper inventories of all three exchanges covered daily global consumption by only 2 days-a dangerously tight situation, and it’s was no coinci- dence that copper prices surged 2.5 times in the next six months. Today, copper inventories cover daily consumption by only 3 days, and we are again approaching the dangerously low levels seen back in 2005.
Confirming the tightness in today’s copper market are the future market’s backwardation, defined as when commodity markets are tight and inventories are low, future prices will trade at big discounts to spot prices. Conversely, when inventories are sufficient, future commodity prices will trade higher than the spot prices-- a condition known as “contango.” In today’s COMEX copper future market, the July 2024 contract trades at $4.26 per lb. versus today’s copper spot price of $4.40—a discount of 14 cents to the spot market—which amply displays the tightness that crept into today’s physical copper market.
Copper prices have traded in a tight band over the last 12 months oscillating between $4.00 and $4.80 per pound. We believe we are setting up for the next big price spike. Investors should maintain significant exposure to copper related equities.’

https://tradingeconomics.com/commodity/copper

Copper futures surged above the $5-per-pound level for the first time on record amid lingering worries of supply disruptions due to war in Ukraine and historically low inventories. Copper stocks held by LME were at 68,825 tonnes, the lowest level since 2005. In February, those in the Shanghai Futures Exchange and Comex were below 200,000 tonnes. Suppliers are especially low in Europe and although Russia accounts only for 4% of global production Europe is the primary export market. Adding to woes, the world's biggest producer Chile, recorded its lowest January output since 2011, with production sinking 15% compared to December and 7.5% from January 2021. On the other side, copper usage is surging, especially in developed countries, with increasing demand for electric vehicles, wind farms, solar panels, and power grids.

…… nothing new from Moxico yet.

Hi dj,

Sorry for my slow reply.
My letter dated 27th January 2022 includes the following;
‘The rate of the distribution was £0.003852172 per share…. A cheque in this sum is enclosed’
Lancygeo

From ii today today:

Liquidation

Terms: GBP0. 003852172 in cash for each share held
Pay date: upon receipt

The Liquidators of Zincox Resources Limited have announced a final payment for shareholders of GBP0. 003852172 in cash for each share held.

The payment will be issued to entitled shareholders upon receipt from the liquidators.

Hi Lancygeo, still nothing in my online account. What was the final payment per share? I still need to chase IG also as I once had CFD's for Zincox. That was painful!
GL DJF

My cheque came through last week

From the website: "The final cash distribution was posted to shareholders on 27 January 2022. If you have not received your cheque please email recoverysolutions@crowe.co.uk ".

No cash has arrived in my account yet.

No physical certificate but showing with zero SP in interactiveinvestor. Don't see any way to see current value. If all goes to plan, we should see the final money coming in this month. As per the Zincox website: "The final cash distribution will be issued in January 2022"

Hi all, I can’t remember when but I did receive a share certificate from Moxico. I assume everyone else has too.
Hopefully, Moxico will float very shortly but until then, is it possible to monitor the sp ? (£1 per share would be good)

Looks like a bit of a waiting game here then, would be nice to see if Moxico did reach the £1 a share mark again,
if thats what they were before, would cushion the blow for many of us in here i believe.
Well have a Happy Christmas & a prosperous new year then.

Longtrek, I also pop in from time to time. The second payment will likely be very low, just sharing out what little remains. That's been delayed and now not expected before Jan '22. I need that to be finalised as I had unfortunately some ZOX in a CFD account and need the final number to agree a settlement with IG. They've not been able to provide MOXICO shares either so it's quite a complicated discussion especially as the value of the MOXICO share portion is difficult to know. There was talk of an IPO this year but that seems to have gone quiet.

Hi all, just thought id drop in to see if theres any life left on this bill board.
Ive been searching for Moxico share price but cant find it anywhere, anyone know what it is right now?
they're annual turnover is $6.64million so they seem to be ticking over nicely.
djframboise, i hope we do get a second lump, the first lump wasnt too exciting, so fingers crossed if we do get
another payment.

https://www.thisismoney.co.uk/money/investing/article-9556831/MIDAS-SHARE-TIPS-Copper-bottom-mining-returns-Trident.html

bigmj.... can I ask where you heard that ‘Moxico will list at £1 plus’ ?

Moxico share certificate arrived special delivery yesterday.

Hi bigmj, great to know you are invested here..... a £1 listing would be fabulous :)

Moxico will list at £1 plus later this year , I first invested at 6p (placing), the value is flying up and once listed will really take off

Hi, IG closed my CFD positions after much to-ing and fro-ing but somehow managed to pay me 0.02p / share instead of 2p. Talk about incompetance. No mention how they plan to deal with the Moxico allocation either.

LongTrek, I took a look at ZOX website this morning and was surprised to see the final paragraph regarding the liquidation. Apparently, we will get another lump later in the year (full text below). I'm surprised in that case, that your holding has disappeared from your account. Imo, it should not have been. The Moxico shares are certainly more valuable that that. That presumably is the nominal price which is not relavent. Will try and research a bit more on that.
GLA DJF
From zincox.com:
The Company has recently sold its Full Cycle technology to Korea Zinc and received the approval of shareholders to appoint a liquidator in order to carry out a Members Voluntary Liquidation and to distribute cash and Moxico Resources plc shares to shareholders. For details about Moxico Resources plc see www.moxicoresources.com

Please see under Investor Relations/Press Releases for letter to shareholders of 10 September 2020.
General Meeting: 11:00am, Monday, 9 November 2020. To view the Results of General Meeting Click here

On 9 November 2020, Zincox Resources Limited was placed into Members’ Voluntary Liquidation, which is a solvent Liquidation. Mark Newman and Vincent Green of Crowe U.K. LLP are the duly appointed Joint Liquidators. The Liquidators can be contacted by writing to Crowe UK LLP, 4 Mount Ephraim Lane, Tunbridge Wells, Kent TN1 1EE, by emailing recoverysolutions@crowe.co.uk or by telephone on 01892 700 200.


Distributions to shareholders: The first cash distribution was posted to shareholders in December 2020. Moxico Resources Plc shares were distributed on 27 January 2021.

At Moxico’s request, the share certificates have been delivered to Moxico for safe keeping. Over recent months the pandemic has impacted delivery and courier services and Moxico wishes to ensure that the certificates are correctly delivered. Shareholders are encouraged to contact Lorraine Whitehorn as soon as possible to arrange delivery of the share certificates. Please contact Lorraine Whitehorn by email at lorraine.whitehorn@moxicoresources.com

If you held Zincox Resources Limited shares through a CREST account, the Moxico shares have been credited to your account.

A second and final cash distribution will be made to shareholders in due course following receipt of clearance from HMRC to conclude the Liquidation. It is unlikely that the distribution will be made before September 2021.

My share account migrated sharecentre to ii yesterday and can see the Moxico allocation there. They are unvalued but presumably as they are not directly tradeable. Zox still showing too. IG struggling to know what to do with the holding I have via CFD though.

I recieved my Moxico shares today, after chasing them around.
for 2,380 shares the valuation is £23.80.... i wont be getting rich
any time soon i think!

Chrisking - were you able to trace your Zincox 2p / share pay-out with Hargreaves?
Anyone received shares of Moxico? I have not.

I got nothing. No cheque, no dividend. Will investigate on Monday. I hold them with Hargreves.

Panks, I am also with Share Centre and the 2p was paid as a dividend. The shares are still showing in my account also.

Yes, me too, a cheque for 2p per share. No further news re Moxico.

I got the Zincox distribution of 2p / share last year. Awaiting now the Moxico shares.

I haven't received any Moxico shares, still waiting,
Zincox have now been removed from my Lloyds share dealing account.

Hi, just received the news that ZOX will be wound up. We will receive 2.3p / share but also 1 Moxico share for each 15.5 ZOX shares. Assuming a value of 24p / share for Moxico, that would equate to 3.8p share. Moxico remains interesting though and one to tuck away.

Looks pretty basic at the moment. Some great suits in the picture! So Zincox owns 11million shares in Moxico and last selling price (2019) was 24p. That would mean the Moxico holding would be worth north of 2.5m pounds. Certainly not peanuts.

The new Moxico website is up and running.

https://www.moxicoresources.com/

Hi Lancygeo, didn't know how to take this press release. Shares have continued to trade on AM albeit at small quantities. Maybe we're on the way back to a full listing? Who knows?

Several press releases now on the Zincox website, including suspension of trading on asset match.

https://zincox.com/press-releases/

Still some interest - July auction was back at 3.5 p : In total 61,342 shares traded at 3.5 pence per share.

Hello all, this site suddenly busy again. AGM deferred until 23 June. What is this company? Is it a strategic investor or does it sell zinc treatment equipment? I have looked at the Moxico investment and I have seen lots of reference to litigation and IPO to be held soon. The IPO has been going on for over two years. Why is that? Does anyone know? Looking at the AGM I see a statement from the Chairman that Mimbula is producing mid year and yet there is big litigation with Vedanta. With Moxico being asked not to trespass. Have I got this wrong? Don't know if this impacts other assets in the Chingola region but from what I read in the press there is a bun fight regarding the litigation. I guess my question is when are Moxico floating and are they actually in production? Seems to me a good trade investment if the underlying facts allow production to take place. Big pre IPO value (USD30 million) so we can expect a big value on listing. Will somebody please put me on the right path of understanding.

Hi fella & djframboise, I wonder how many of us lth’s stil hold and tune in to this bb to track progress. I’ve often thought about selling my small holding to recover what little I can, however, I am intrigued as to what might might happen to both Zincox and Moxico. The monthly auction continues to show a rise in SP, so I might just hold and see what happens. I would love to see Zincox rise from the ashes and wish them every success for the future. You never know, both Moxico and Zincox might just come to market on AIM ? Good luck and best wishes guys :)

Hi fella & lancy geo, hope both of you are well. Both the price increasing on AM and Moxico are positive. AGM is moved to June 23 but not clear what resolutions will be discussed yet. I guess we'll find out in the near future. It's patience for the long game here. We may one day be rewarded. DJF

Still here , morning djframbois, and lancy geo .
Nice to know we are still in it together and good to see the shares selling for 4p .
The only news I have seen is this .....
MOXICO RESOURCES PLC
Moxico Resources PLC is a British mining company currently focused on copper in Zambia.

Moxico intends to list its shares on a recognised stock market in due course.

ZincOx acquired 12.5 million shares in Moxico in 2017, at a price of 6p per share. In 2019, Moxico raised US$30m at a share price of 24p. ZincOx has recently sold 1.5 million Moxico shares at 24p, realising £351,627 after expenses
Not bad news at least ? Keep the faith .

i'm here and still monitoring for any news update. Interesting that shares sold at 4p last month.... lets see what happens this month. Any further news out there re Moxico ?

Talking to myself! Happens a lot. Fella, you still around?

Appears good demand still for ZOX shares on AssetMatch. In total 589,129 shares traded at 4 pence per share. This represented all offered shares being purchased and at the highest price yet since delisting. Still hoping to see this rise again.

Someone still hoovering up small amounts in the monthly auction. December was 10,986 @ 3.2 If this ever comes back to life, would be great. Only have 45k but sitting on a loss of 7k stirling. Not peanuts. GLA and seasons greetings.

Someone buying every month probably. 263,632 wanted in November @ 3.2

See there is a buyer for 350,000 shares in Assetmatch this month at 3.2. All quiet otherwise.

Hi fella, loads of patience needed here but keeping everything crossed that one day we'll be back in action. GLA

Good to see there is still some interest here . The delay in Moxico's listing till 2020 may have put people off for the last couple of months , but with our company secretary , Peter Wynter Bee , also been Moxico's non executive chairman and the 12,500,00 shares we hold an interest in
( bought at 6p ) recently been worth 24p , i think there is a good chance things will work out OK for us LTH .
An announcement of a new project or two would be nice too :

New Recycling Plants
The Company is actively pursuing the concept of developing new
recycling plants in Spain and Japan. This work involves the
identification of suitable plant sites, negotiations for EAFD supply
contracts, basic engineering to enable a detailed costing of the
development of the plants and the necessary environmental and
other permitting.
GLA LTH

3.2p at the moment :)

Looking like 2.5p this month.

No change 532031 shares changed hands at 3p

3p for last 2 months. Will there be any change this time?