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NewKOTB, I'm pleased to see somebody else gets it! :-)
Although Shard postions itself in terms of offering investment, dealing and capital markets services to private, corporate and institutional clients, I've seen little in Zanaga's funding RNS preventing Shard from driving the SP down the way you describe (i.e. retail bucket shop activities).
The only protective provision I see is that Shard should maintain an 'orderly market'. So, 13p to 4.7p in 6 weeks is an orderly market? I guess it must be so. 20% down in a day on 3x normal volume meets the orderly criterion also. Methinks somebody is having a big profitable laugh at our expense.
I accept that ZIOC needs funds to pay for the Chinese infrastructure work, etc. But why would Elphick opt for such an egregious funding scheme which has collapsed shareholder value by 60% if there was not a good reason? That reason, I believe, as has been stated before, is to allow certain influential parties to take a slice of the Zanaga pie on the cheap. I'm hoping that once they're fully-invested then we will start to see a flow of news.
I hope that this is the case - otherwise we may be in more trouble than we know.
Jiving
I am putting myself in the position of those buyers who are in the priveleged position (whoever they may be) to be buying bulk from Shard at 5p today. I ask myself would they be happier buying today than if they'd been offered shares in a conventional discounted placing a few weeks ago at 10p?
Of course there's no need to answer this.
Jiving, a discounted placing at the time of the last Shard-related RNS might have been done at 10p Maybe 9p, what if it was even at 8p. Today we're under 5p and there's no sign that Shard are anywhere near out of ammo - or even if they've started. Whoever might be buying shares from Shard today will be doing so at well below the price of a conventional placing when the SP was circa 13p. They are getting a great deal (assuming that nothing terrible has happened in RoC, etc). I maintain my opinion that the mates rates thesis is the least unlikely.
I do agree with you that we are all doing a lot of guesswork. Best wishes to you.
Events of the past few months tell me that Elphick and Glencore are indeed aligned and do both want the Zanaga asset sold. I don't think Elphick is a fool. The best explanation I can give for the wrecking-ball type structure of the recent raise is that certain parties are being offered a low cost path to investment with the potential for a big pay day around the corner. It's the closest thing to a gift without being corrupt. (Folks might debate this!). This is the 'mates rates' hypothesis which has been mentioned here before and seems to be the least absurd scenario proposed so far.
Thanks for sharing this Veteran.
I assume that any rail route from Zanaga might be half the distance of Simandou's, will need fewer than 235 bridges and may not need tunnels of up to 11km length.
Makes me wonder why Zanaga does not yet have a similar development plan.
Thanks again
1 month chart looking slow but steady in the right direction
Fear not disciples, PP-FCC is back in Brazzaville
https://www.flightradar24.com/data/aircraft/pp-fcc#
(irony alert - I have seen no evidence that this Brazilian-owned long range exec jet has any connection with Zanaga or even Vale)
Yes, I was wondering who was paying for the Chinese re-costings exercise. I figure they would not do it for free without at least some sort of MOU/LOI or other contractual commitment (which ought to be RNS'd). I also figure that this sort of work isn't cheap as Zanaga to P-N is a fair trek.
Hence the raise.
If the recent drop is the result of the raise then we can say that certain favoured people are buying at heavily discounted rates. One might describe it as a sanitised version of a brown envelope.
Hopefully the above represents the ticking of 2 enabling or even transformative boxes.
GLA
Nat gas roofing it today. Can anyone recommend a (free) news source which would help me understand the market dynamics at play?
BTW, I am fortunate to have bought the 3x ETF 3LNG earlier this week. No WFT applies to that :-)
It seems that investors now have their positions, some traders have done their thing and it's a waiting game until the next announcement. I can see the SP hovering in the 4's in the meantime despite the best efforts of the pumpers which EEE seems to have attracted recently.
Next news should be more detail on the next Pitfield drilling programme and hopefully with further explanation/ interpretation of geological data. I would be most interested to learn how Sean Bunn plans to find the copper which he is convinvced we have in abundance. (is there such a dance as a Bunn Dance? maybe we should invent one) :-) I'm also looking forward to the comments of AGEOS on this (the copper that is, not the dance).
I know we have enough cash for another drill campaign but I'm wondering if SB is considering a raise at this level in order to finance a bigger campaign and even a maiden JORC reserve (at least for Ti). £2m could be raised with around 10% dilution and if the placing was done to the right people we wouldn't suffer the overhang of bucket shops dumping shares for a quick profit.
Finally, 5p/share equates to just £25m market cap for a globally significant titanium prospect (plus EEE's additional assets for free). After the next drill I'm hoping the market will re-rate EEE to £100m and at 20p/share I will be close to retiring (allow a man to indulge his dream please) GLA
Dips are inevitable even during a rise as emphatic as this. There's plenty of garbage on AIM for the herd to jump ship to but I'm not bothered by that - the potential here is as great as anything I've seen in my trading life. GLA
I'm just imagining the iron ore at Zanaga stuck in the ground for another 20 years whilst corrupt governments dither and bicker about a trans-Africa railway. Give me a direct route to the Atlantic please - preferably a railway which would have plenty of other uses (transporting personnel and supplies to site for example)
Https://web.archive.org/web/20081025100951/http://www.korea.net/News/News/LangView.asp?serial_no=20070820016&lang_no=1&part=103&SearchDay=
I wonder what became of this...
About 20 companies, mostly from Korea and some Malaysian firms, including the Korean Railroad (Korail) and Korea’s system engineering firm POSCON, have agreed on Aug. 17 to form a consortium to carry out a railway project in the Republic of Congo.
Led by Korean firms, the Congo-Malaysia-Korea Consortium (CMKC) reached the agreement with a Congolese railway development committee led by the African country’s transportation minister Emile Ouosso.
According to the consortium, the three-billion dollar project aims to connect a one-thousand kilometer section between Brazzaville and Ouesso and a 500-kilometer section linking Djambala and Pointe-Noire.
Under the deal, the Congolese government will grant Korean firms exclusive rights to develop its gas and iron resources, as well as a tropical rain forest, for the next 30 years.
Denis Sassou Nguesso, the Congolese president, supports the railroad construction project since the country desperately needs a proper transportation system to boost foreign direct investment in the development of its resources.
So if forestry has been a hot topic in Brazzaville recently then maybe this explains the recent movements of PP-FCC.
PP-FCC is the executive jet owned by Brazillian lumber company Greenplac Tecnologia. This jet was touted by a poster here as being used by Vale but no evidence was shared. In the absence of such evidence I'd say it's most likely not being used by Vale but by the people who own the jet; Greenplac.
https://www.flightdb.net/aircraft.php?modes=E48DB4
https://www.dnb.com/business-directory/company-profiles.greenplac_tecnologia_industrial_ltda.44d5d35565f7b6c45fd75e2f9ce4f141.html
I did a dummy sell 2 mins ago and MM's will take up to £25K worth of shares in one go. I've known this to be higher but still pretty good. The frenzied buying of Monday seems to have settled down and now perhaps we have stickier hands and a shortage of sellers.
3.6p needs to be taken out. Hopefully this will happen this morning.
GLA
Thanks for your message Kongolasse :-)
20p by the end of the year I think is achievable with further positive drill results.
It feels less hostile here than over at ZIOC this afternoon. I could do without such tantrums right now TBH. :-)
Best wishes to all EEE-ers wherever you may be