Member Info for 99icecream

SVML may be getting a new shareholder

https://www.reuters.com/world/americas/rio-tinto-weighs-sale-titanium-business-sources-say-2025-07-24/

If you deal in reasonable size ( e.g. 50,000 shares) the spread is about 10%.

Veteran10 - we are the market ! I have been invested 7 years and I am very positive about ZIOC, but I won't be buying any more shares until I am confident this is happening soon. The market for these stocks works that way. Long periods of quiet desperation (and slowly falling prices), followed by short periods of wild enthusiasm. We all want to buy at the last moment, we are not there yet!

Should trigger a rush by US firms to sign Off-Take deals with Blencowe, and increase the probability of a substantial loan from DFC.

"Big problem - Choice that could decide Australia’s economic future."

The transition to Green Steel in China would be less painful for Australia, if it happens slowly.

https://www.news.com.au/finance/economy/australian-economy/big-problem-choice-that-could-decide-australias-economic-future/news-story/e8669cf11f2d21b3e5695e849bd08a9c

Anthony Albanese is in Shanghai at the start of a six-day China visit - Top of his concerns - the transition to DRI.

"However, attempts to clean up an industry responsible for roughly a tenth of all emissions put that trade for Australia at risk as decarbonisation requires higher grades of iron ore, found in countries like Guinea and Brazil."

https://www.reuters.com/world/china/australian-pm-albanese-pledges-work-with-china-excess-steel-capacity-2025-07-14/

Daisy1963

The obvious Graphite firm with problems is Tirupati Graphite https://www.lse.co.uk/rns/TGR/

Syrah Resources is a useful comparison for Blencowe going forward https://www.syrahresources.com.au/

They have 120 million Tonnes of Graphite Resource, an Off-Take deal with Tesla and $150 million loan from DFC. Recently they have had problems with access to their mine, which has delayed their project. Google AI describes the dispute as:

"A dispute between Syrah Resources and local farmers in Mozambique arose from historical grievances regarding agricultural land resettlement near the Balama graphite mine. This conflict escalated after Mozambique's general elections, with protests disrupting mine operations and leading to a declaration of force majeure by Syrah."

Euclid55. Stage 1 Capex is about $ 2.2 Billion. If Chinese build, Chinese bank will provide standard 70% senior debt finance, leaving 30% to fund by a strategic investor. Hence $660 million approx (not £ btw).

I'm very positive about ZIOC since the ownership changes and the DRI results. Not only in terms of it being funded soon, but also (as a result of DRI, Pellet Production, Shipping, etc. etc.) in terms of a high price share when it does get funded. In terms of the Strategic Investment of circa £660 million, this is a small sum in the wider context of investment in a project with enormous this potential (stage 1 and 2 use only a fraction of total Resource). IMHO China Baowu will emerge as the Strategic Investor but there are many other who might easily out bid them.

FYI, I have been invest here for 7 years approx. I own more shares now than in the past. Current average cost is about 8.8p.

I guess we are waiting for the Perdevlei "Mining Right" which would increase the NPV by a substantial multiple.

Link works if you remove the excess full stops.

I don't think most here appreciate how big the DRI news is. To put it bluntly, there will be little interest in non-DRI iron ore going forward, so such projects will struggle for funding even if the Fe content is high. Here the Alumina/Silica results for Hematite are particularly impressive at 1.55% total (from 3.84% previously). As someone has already said, I view the current price weakness as an unexpected opportunity.

Its not Record that will potentially fund the KP2 project, but (primarily) UAE based investors. Record, OWI and Khalij (as RAMS-OWI) will arrange the deal(s). Deals will be direct between the Kore's, Kola Project subsidiary and each individual UAE investor. You can find Record listed on the London Stock Exchange (REC), Record Currency Management (but not other subsidiaries) is regulated by the FCA. Khalij Group is involved to ensure that the deals are Sharia compliant. Khalij is based in the UK (www.kalij.co.uk - FCA regulated).

Extrader

(1) - This looks like a generic description of "Securitisation" an SPV is set-up which buys certain assets and sells securities (certificates) with the assets as collateral. Mortgages would be the obvious example, another application might be an Equity Index Fund where the assets would be shares. I suspect that OWI are included in the deal here not because they will be creating certificates, but because they have the relationships with potential "lenders" to the KP2 project.

For extrader:-

OWI-RAMS Swiss AG - Registered number: CH-170.3.050.078-3 - Sector Services for banks and credit institutions.

Baarerstrasse 52, 6300 Zug

Board Members of OWI-RAMS Swiss AG

Jan Hendrik Josef Witte - Director of Record PLC, Director of Record Asset Management

Nicola Andreas Thomet - Director of Record Asset Management

Rabelin Tchoumi Tchouzoue - UAE Resident, Cameroon National, (also Director of A8 Capital Limited)

OWI-RAMS GmbH is 51% Owned by the Record Group through its subsidiary RAM Strategies GmbH - (source Record Financial Group - Annual Report 2024)

I missed all the excitement - looks like someone was determined to sell before the weekend !

APTA and METIR - interesting. I detect a York University theme here !

I have been looking at the Royalty deal to see if its better or worse than Equity. Obviously raising Equity on AIM would be out of the question, but a possibility might be to bring in another Miner as a Strategic Investor (since they would understand the value and would pay accordingly). If the Project is worth $ 1.7 Billion [=NPV(10)]. A Strategic investor should pay $655 million for 1.89 Billion Shares giving them 27.8%. of the equity (Existing shares 4.9 Billion). I compare this with having a 15.2% (average) Royalty paid on the Selling Price of the Potash.

Assuming, the Average Sale Price is $449 / Tonne, Costs of $128.19 / Tonne - (Both figures from the 27 Feb RNS) We have on a per Tonne basis:

.............................................Equity..........Royalty

Potash Price..........................449.0...........449.0

Less 15.2% Royalty...................0.0........... -68.2

Less Costs........................... -128.2......... -128.2

--------------------------------------------------------

=Gross Profit.........................320.8...........252.6

Less 10% for Congo.............. -32.1.......... -25.3

-------------------------------------------------------

=PBIT for ALL S.Holdrs..........288.7.........227.3

Less PBIT for New Equity...... -80.3.............0.0

-------------------------------------------------------

=PBIT for Current S.Holdrs...208.4..........227.3

Based upon these numbers the Royalty deal is still the better deal.

ATG - On the other hand the "Market Size" for Kore is 300,000 (see Fundamentals above). The Dealers are obliged to deal at their bid/ask prices for any size up to and including 300,000).

Shaun86 - I was asked to comment on Kore here because there may be ".....insights ... that may be relevant ....to ZIOC..."