Member Info for 99icecream

You need to read the RNS : Supplemental Agreement with Glencore Xstrata -Fri, 13th Sep 2013 07:01

Which announces the deletion of Glencores NPV based option (because at that time Iron Ore prices were too low). It also explains that Glencores Pre-Emption rights over ZIOCs shares in Jumelles remain. Also, ZIOC's Tag along rights over the sale of Glencores shares in Jumelles also remain.

No thats not correct at all. If Glencore sell then stake in Jumelles, ZIOC has the right to join the sale at the same price. If ZIOC decides to sell to a 3rd party Glen has the right to buy ZIOC on the same terms.

"I was just trying to answer another poster's query as to why KP2's share price didn't go through the roof yesterday."

---- and now we know why.

The official closing price was 9.25 p (based off the closing bid / offer of 8.52 - 9.98). The 9.98p price was the last trade of 12 shares for £ 1.20 ! There were no trades of any consequence since 12:36, so we have no real clue of where the price is now.

Opposition leader dies on the day of the presidential election.

https://www.euronews.com/2021/03/21/republic-of-congo-internet-cut-on-day-of-presidential-vote-as-sassou-n-guesso-seeks-re-ele

Apparently its is a known association.

"In many places around the world, such as Chile and Sweden, copper and gold have also been found near certain iron ores a fact that has led researchers to believe that these "big three" were formed at the same time, deep down in the crust of the earth."

https://www.sciencedaily.com/releases/2007/05/070527140936.htm

There is an update on the Sundance site regarding its two licences (in Congo and Cameroon) - each country has been given a deadline of 18 March to restore its licences - just before the Congo election (21 March).

China is planning to be much more organised about its approach to "strategic minerals" in its 14th 5 year plan. Once ratified by the NPC/CPPCC gathering we will see what this means for Zanaga. My guess is that we will know before Ivan Glasenberg retires at the end of May. We know that he is unequivocal about Chinas plans - so it would be illogical for Glencore to keep any stake in Zanaga. A special dividend from Glencore (has owns 9%) would be a useful leaving gift.

"The industry ministry said in December that China aims to build one or two globally significant overseas iron ore mines by 2025 to boost supply and enhance its pricing power."

https://www.reuters.com/article/us-china-parliament-steel/china-to-strengthen-management-of-strategic-mineral-resources-eyes-green-upgrade-of-steel-idUKKBN2AX0CR?edition-redirect=uk

Glasenberg tips more China pressure on Australian coal, iron ore

https://www.afr.com/companies/mining/glasenberg-tips-more-china-pressure-on-australian-coal-iron-ore-20210216-p5734e

One of the NPC’s tasks this year will be to pass the final version of China’s 14th five-year plan, which gives the leadership a chance to outline longer-term priorities that could define President Xi Jinping’s legacy and the party’s future.

https://www.scmp.com/news/china/politics/article/3123587/two-sessions-2021-five-things-you-need-know-about-chinas

Obviously Chinas plans for the steel industry (which are a key part of the plan) will not be implemented until after the plan is adopted.

https://www.hellenicshippingnews.com/china-finalizing-high-quality-growth-in-steel-industry/

Thats OK, as long as you are mildly amused Mr Dude !

China sets 15-year transport expansion plan as it seeks to double size of economy by 2035 (N.B. Requires Lots of Steel !!)

https://www.scmp.com/economy/china-economy/article/3123151/china-sets-15-year-transport-expansion-plan-it-seeks-double

Will iron ore prices continue to rise?

https://www.valuethemarkets.com/2021/02/25/will-iron-ore-prices-continue-to-rise/

Energy and Power - Power supply continues to be unreliable and does not reach all parts of the country. Even the new Payra power station has to be run at a fraction of its capacity due to deficiencies in the grid.

Not mining own coal (specifically Phulbari) is another mistake.

"Coal from own mines can generate 10,000 MW power for 50 years"

"Mining of own coal can revolutionize energy and economic scenario of Northern and Southern regions of the country"

https://ep-bd.com/view/details/article/NTgyMw%3D%3D/title?q=regional+disparity+in+energy+supply

No doubt there are some weird investors out there, but I cannot believe anyone would dare short this share.

Until Shard have completed the sale of the 2nd tranche of 7 million shares, we are bound to get these odd bouts of paranoia.

BTW Yesterdays last trade was at 8.00 p but was for only 19 shares (£1.52) so thats ignored for the calculation of the official close price which was 8.35p

The market makets are not at fault. Its a quiet day (so far) and the market makers have no particular axe (i.e the don't need to sell or buy) so there is a wide spread 7.80 to 8.80 (as I write) which implies an 8.30 mid price. The various screens show the last trade, which could be a large drop or premium to the last close (and could be for very few shares anyway).

"Our 'half' is 'worth' much less than THEIR half to a buyer, IMO."

I think you are wise to regard Glencore (Xstrata) as being ruthless when it comes to their attitude to minority shareholders in mining projects. For example, (going back nearly 10 years) to the Minco vs. Xstrata deal. But I doubt it is relevant here.

I cannot get what Glencore might offer the buyer, that they might want in the deal , besides (maybe) an offtake agreement. That is where Glencore gets some cash up front for the mine but gets further payment in the form of Iron Ore in the future. However, there is no reason why Zanaga can do exactly the same deal (using its tag along rights).

IMHO

We are just two former ASOS shareholders who sold too early.

I bought into that one when I realised that Mrs. 99 was a big fan and Bill Currie (who I met previously) was a big investor.

"ZIOC is much more 'motivated' as seller than GLEN is"

I think we have seen what Ivan's view is on the utility of keeping an Iron Ore mine long term ! - Don't forget that ZIOC has tag along rights (which in itelf shows how smart the ZIOC guys are).