RE: Valuation thoughts....23 May 2024 17:50
Hi Vet10,
Your ref to the Chinese constructing a railway in Algeria may have some relevance, if not to ZIOC directly : turns out that Obambi would like the Algerians to finance HIS railway ex Sapro Mayoko, per today's depeches :
Headlined : MAYOKO IRON ORE MINES
..." The Sapro Group in search of Algerian investors
Congo's only iron ore mining company, Groupe Sapro Mayoko SA, faces a number of challenges, including the lack of transport routes to the port of Pointe-Noire. It intends to forge partnerships with Algerian investors to build a railroad, train local technicians, etc. ...
.. Now that the Sapro Group has reached the production stage, Sapro wants partners to improve its logistical capacity.
Per Paul Obambi, the company's only handicap is the difficulty of access to the railroad. The Sapro's CEO is determined
to convince Algerian partners to contribute to the construction of a "new railway to facilitate the routing of products to the port of Pointe-Noire......
.....The mining company attempts to relaunch itself five years after exporting to China, in April 2019 , iron cargo of around 23,000 tonnes. At the end of December 2023, the Group signed an agreement with the Port of Douala for a logistics zone and a loading area, with the aim of facilitating the flow of iron ore.
The operating program included, on the one hand the improvement of the existing facility through the renovation and
and optimization of the existing port site and, secondly, the future extension of the port towards a new deep-water port site at Manoka. ..."
(1) Sapro's is the lower-quality ore at Mayoko and (2) Obambi seems to be pitching for finance..any finance.. for a port...any port..
Maybe he's heard rumours and is concerned at Sapro losing its claim to being "Congo's only iron ore mining company"...?
;-)
ATB