I think its ok. around 6% dilution which incl cash by end may, gives another 1,5-2 years cash holdings. dont think this long period will be needed, but just in case. cash burn pretty low as they only spend less than 800K since May last year
@DrRemington. I agree our time will come and this will not be in the ground forever. Another factor is Congo government. I am sure they will also put pressure on GLEN to get this up running as it is important for the country and will be a major contributor for Congo, so I dont think they will allow a deal is blocked on the longer run, if times are good for iron ore, which they are.
My view is, if it was a dead duck now with coidic, I would expect the are obliged to tell the market immediately that no more involvement with coidic. I guess and hope it is due to NDA and discussing either JV or BO
I see this as a clear tactic game from the BOD. well played. IMO they are in close contact with the chinese, but probably the chinese are playing hard ball and will not pay what zanaga is worth, so as I read this a brilliant tactic to show other guys that this is open for sale now and capex are even lower than expected and you dont need a deepwater port. There is not reason IMO to post this update now, as we have been waiting anyway since end march and year end report is due in 4 weeks. This info could have waited another 4 weeks without questions, but they send it now as a clear message that "we are for sale and in final round". Also no comment on coidic progress, but just stating we will update at year report in 4 weeks. surely this RNS was not needed at this point, unless it is a clear message to some very close negotiations going on. At least thats my believe. Brilliant.
I think within next 2 weeks we know what has been going on with the Chinese and others during q1. IMO we will increase nicely up to the RNS as we were oversold since January. I dont think anyone will get this cheap, as GLEN and BOD are fully aware of the value. For me I am very eager to see if they go for a JV (which could also be very good for us on the short and long term) or a BO. My guess is BO as I dont think the chinese or other buyers would see any value in having us on board once they start up the mining.
I dont think they will sell at 2 GBP although it would be great vs where we are currently. My guess is that GLEN will not sell their half below 2-3 B USD for their half, and is more like like 7-10 usd/share. Just my guess. They gave a good discount on the depth settlement, so think they would ask minimum this level from any bidder. also looking at the value of the ressource when starting the mining.
This could very well go fast and all the pieces are slowly and nicely coming together. would not be surprised to see 10+ during next week, even without an RNS. Once RNS come, it could be rewarded in multiple baggers.
ATG good article. could be an interesting comment for near terms target " The company reaffirmed its commitment to maintain strong Baa/BBB investment grade credit ratings, supported by a near-term net debt target range of $14-billion to $15-billion, down from $17-billion at December 31."
I find it interesting that we have a delay. only logic is something is going on. every investor would expect a delay due to corona, so the easiest thing they could have done in the world, would have been to send out an RNS, stating that due to corona situation, coidic have not yet finalized their current work, but update will come later in q2. Why would they not do that. It would have been a very decent explanation under the circumstances. My guess is they dont send out, as something else is going to be published soon
Simon if you are bored, why not spend your time on something else. get a life. I am sure there will be an RNS, but later, which is only positive. They have had so many good and solid opportunities to give an RNS during march, that due to corona things are postponed as everything is on lock down, but they havent. guess why....
my hope is, if they were to post a can kicking bla bla bla RNS, they have had plenty of opportunities during march, and could easily have sent out an RNS, that due to corona situation and china lock down, and travel restrictions, a lot of the planned work has been delayed etc etc, and we will come back later once the corona situation lightens up.. lets hope some interesting news are on the way. cross fingers.
beardozer. I still wait for your comments on what you expect will happen to zioc and most important WHY. I am not American, but scandinavian. I dont see anything wrong in telling what price I paid. It was to show that even if I lost 25% currently as pirce is 4P, I am not worried as for the bid pictures is has no impact. Your comments of calling me a liar or indicating I am simonthesealot tells more about yourself than me. Let me get some meaningfull comments from your side, or dont comment at all. it is a pity to see this level.
@Beardozer. I was hoping for a more intelligent answer. the others could be FMG as one example. They are not able to produce 66-68% FE grade, and just posted record results, based on iron ore btw. So let me know what you think will happen, and why, if you are able to give any intelligent answers. And yes I am 75% cash currently, but started buying up last week in some of the european stock that has suffered the most lately, as I see some good value stock that IMO are oversold, but it is correct I have money in the bank, as I only put back in 25%. For zanaga, I have 3 mio shares at 5p/share, and I am pretty sure you are not in this level. For me it is riski, but on the other hand I am willing to take this risk, it could be rewarded heavily. event if it is sold at 1 usd/share, I will do a decent amount of money here. I have read alot about the iron ore market in general and prices and supply and know a lot about acquisitions in general, so I doubt you can teach me anything in regards to that, but looking forward to your comment of what you think will happen, and even more important WHY?