Member Info for 99icecream

Iron Ore Futures were up 5.5% today as well. January Iron Ore 62% Fe now 144.16 (+7.79).

IMHO Aberdeenman got it right yesterday. In the 2nd of October RNS the Directors took shares rather than cash (for salary). Effectively the shares cost them 15p each - maybe > 20p as they would no doubt be entitled to interest on the late compensation. So, without the Shard overhang >20p should be possible ?

It's the normal thing when someone is managing investments for different clients. The accounts are managed as one but each trade is divided among the different clients in proportion to their fund size.

I doubt it - wouldn't that be insider dealing ?

FWIW - Obviously a single trade of 11.56 million shares which has been allocated to different sub accounts / clients. As all the trades were booked within a period of 2 mins and they add exactly.

Time Price Number Value £ '000

12:18:20 7.75p 207,343 16.069

12:18:26 7.75p 584,064 45.265

12:18:29 7.75p 350,438 27.159

12:18:32 7.75p 180,645 14.000

12:19:46 7.75p 993,548 77.000

12:19:49 7.75p 9,243,962 716.407

Total 11,560,000 895.900

Shard a broker who is/has been placing shares on behalf of Zanaga.

FMF - Future Minerals Forum - Industry conference in Saudi - 9 January to 11 January

11.56 million @ 7.75p in total - looks like the entire Shard allocation is gone. If so we should get an RNS later in the day ?

IMHO It is not a stupid question and we do not know the answer. We know the loan balance was US$1.43 million, but we don't know how much cash Zanaga held at that date. Also, we have the prospect of major deals being done by Zanaga in Q1 and we don't know what extra expenditure will be necessary as a consequence (e.g. legal or site work).

Baowu is the largest Steel manufacturer in the word and more that twice the size of number two. This makes it the largest buyer of Iron Ore in the world by some margin.

As of June 2022 Baowu has a special status having been officially converted into a state-owned capital investment company by the State-owned Assets Supervision and Administration Commission (SASAC). This special status gives Baowu the role of reform and co-ordination in the Iron and Steel sector in China. If you need Chinese State (as opposed to Chinese private sector) participation in an Iron and Steel project anywhere in the world, Baowu is who you need.

As regards investors in Zanaga, they are by some margin the "Carlsberg" option IMHO.

Today's trades missing from LSE for this and some other stocks

We are witnessing what is probably the most significant change in the way Steel is made in the last 400 years.

Few investors are even thinking about the implications, as they are looking at other significant market changes (Bitcoin etc, EV's, Battery Metals, Rare Earths, Helium, AI, Clean Energy, etc., etc., etc. ). Even the implications for Glencore seem to have been missed by the market.

The reason why valuations assume 30 years of production is because the value of cash flows after 30 years are small in present value terms. At a 10% discount rate $ 1 per year for 30 years has an NPV of $9.43 and for 50 years an NPV of $9.92.

FWIW - I remain positive on KP2. Two possibilities in my view. KP2 get the price guarantee based upon (a much improved) version of the existing design. KP2 the price guarantee based upon a new design that gives savings in operating costs and time scale by using the latest technology for Potash mining.

BW for 2024 - 99

I am not sure that the additional work, required by PowerChina was the result of "bad communication/coordination". My interpretation of this was they were unimpressed by the original Engineering Design work (done by a French group) which SEPCO were following in their quotation.

Indeed. I wasn't sure how to interpret Brads departure. He may have been put on 12 months notice after the fall out with the Minister of Mines.

Its always a good sign when board members buy a few shares. David Hawthorn's shareholding goes way beyond that. So its a very positive sign that he sees a high probability of a good outcome here.

These are David Hawthorns shares. He previously held 175,333,061 shares and added 162,375,000 in the October Fund raise, so now has 337,708,061.

There is a subtle difference between the re denomination of the Share Capital (what Condor has done) and a Scheme of Arrangement. Re-denomination of the share capital does not need court approval. Essential the difference is that the worthless Deferred shares still exist at Condor. In a scheme of arrangement the Deferred shares would be cancelled and as a consequence the share capital is reduced.

Theorist - This is the usual way things are done when its necessary to issue shares below par value its perfectly legal if done correctly.

Perhaps AT is splitting his time between Zanaga and his other mineral interests !

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