Member Info for 99icecream

Back in the day (March 2005) they traded just above £9 and the ramping team were talking of much higher valuations.

The employeees have to subscribe for the shares at the market price (i.e. they are issued not bought from the market).

See the last package:

On 10/7/19 the holding statement gave the shares in issue as 283,201,033
On 30/8/19 there were 2,833,334 shares issued for the retension package
On 30/6/20 there were 7,000,000 shares issued to shard
=====================================================
Currently 293,034,362 shares outstanding

Nope, DRC not RC.

https://supchina.com/2021/01/05/chinese-foreign-minister-wang-yi-begins-five-nation-africa-tour/

Congo: A large deal before the Presidential elections in 21 March 2021 would be good.

Glencore: A transformation deal that would boost the share price before Ivan retires would be good.

China: A deal that can be a world class mine by 2025.

Any ideas ?

If this goes the full distance it could take many years. For example the claim by Churchill Mining against Indonesia took (by my calculation) about six years (and was ultimately unsucessful).

Here various notices were served on Poland in September 2020. We expect that Polands lawyers will look at the case and advise their Ministers on the likley outcome. This will determine if they fight the case or negotiate a settlement. Possibly the next stage is for the lawyers for both sides to broker a compromise and avoid a long winded legal process. If no compromise is possible we can expect Prairie's lawyers to formerly file a claim somewhere (e.g. International Centre for Settlement of Investment Disputes (“ICSID”) in Washington D.C.).

The relationship agreement will end if GCM shares "cease to be admitted on AIM" -- why bother to do this unless you intend to appont a new Nomad before 6 February ?

Higher trading volme in Australia today: 1 million shares. Yesterday was 800,000 shares, 5 Jan: 460,000 shares.

One of the functions of the nomad is to check all communications, so that means you can be confident that there was a real prospect for the job who was doing due dilligence. This was easy for Strand Hanson to check and no doubt the prospective new Nomad would have talked to Stand Hanson before agreeing to be the new Nomad (subject to sucessful due diligence).

However, technically Strand Hanson are no longer the Nomad - which probaly explains the obvious mistake in the RNS (process rather than progress). It would be interesting to know why Strand Hansons details are still at the bottom of the RNS!

Dirty Harry - very appropriate !

In this case the article appeared elsewhere in mide December.

https://www.observerbd.com/news.php?id=289318

Who is CF ?

Iron ore price leaps into 2021

https://www.mining.com/iron-ore-price-leaps-into-2021/

I'm thinking that the results of the public consulation will be that they should not invest in Australia at this time. It would seem stange to invest in Australian Iron ore and at the same time suffering a lack of electricity due to the ban on Australian coal.

https://www.dailymail.co.uk/news/article-9077125/A-dozen-Chinese-cities-forced-cut-electricity-Australian-coal-blocked.html

https://www.nytimes.com/2020/12/21/world/asia/china-electricity-coal-shortage.html

It is not a stupid question. The aim here would appear to be to stop the asset transferring to some unknown and poorly funded entity as a consequence of the insolvency of Sundance. That is to stop it being stuck for another ten years. Congo already has a "change of control clause" in the licence, but this would reinforce that condition.

Yes, Zanaga is a binary bet, it could still be 10p next year - but I doubt it.

I can see how some in Australia might "spin" the Sundance story to fit in with the China - Australia narrative, but the histroy of this project would seem to suggest that this is not the case.

Firstly, look at the current JORC Resource numbers for the Sundance project: 5,638 MT classified as (0% Measured, 33% Indicated and 67% Inferred) for comparison use the JORC Numbers for Zanaga 10 years ago (BEFORE the work done by Xstrata): 3,337 MT (0% Measured, 18% Indicated and 82% Inferred) . Incidently the current numbers for Zanaga are: 6,890 MT (34% Measured, 36% Indicated and 30% Inferred). This suggest to me that only the Chinese firms would consider funding a project like this before further drilling.

Secondly, without the Cameroon Licence there is no reasonable way of shipping the iron ore out of Africa.

So Sundance needed money to take the project forward, but only Chinese money was even a possibility. Discussions had been going on for well over two years and maybe the China / Australia situation dealt the final blow?

"Its not sleeping its a dead parrot" !

All - IMHO

The Sundance project is on both sides of the Cameroon / Congo border with approx 2/3 of the resource on the Congo side. However, the development plan anticipates that the iron ore will be exported by the most direct route, via a rail link in Cameroon to a port on the Cameroon coast.

The Sundance problems go back to March 2018 when the Mining Convention in Cameroon ended and was extended for six months so that Sundance could demonstrate that it the funds to take the project forward. In September 2018 the Mining Convention with Cameroon ended.

Sundance has been trying to put together funding (which is ultimately Chinese money) to take the project forward. Recently, with Sundance close to delisting on ASX Congo has withdrew the Congo mining licence (on 30 November 2020). Sundance was delisted from ASX on 21 December 2020.

So as far as we can tell the mining licences are not "with China", but are with the respective Governments (Cameroon and Congo).

Given the number of parties involved (including Congo, Cameroon, Sundance (or its creditors) etc.), it looks like sorting the resulting mess out will take sometime.

Sierra Leone iron ore exits global market - an update on the situation in Sierra Leone

https://www.hellenicshippingnews.com/sierra-leone-iron-ore-exits-global-market-as-opaque-policy-sparks-mine-halts/

Hi Extrader

Clearly the next few months could be very significant for us. I doubt AT is allowed to comment, but it will be interesting to find out.

>20% of Imports is interesting (implies > 220 MT per Annum). Globally significant mines I take to mean ones with potential for > 100 MTPA.

China to build overseas iron ore mines to ensure supply, boost pricing power

https://uk.reuters.com/article/china-steel/update-1-china-to-build-overseas-iron-ore-mines-to-ensure-supply-boost-pricing-power-idUKL1N2JB0DF

Prairie Mining Limited (Prairie or Company) advises, in accordance with ASX Listing Rule 3.13.1, that the
Company’s Annual General Meeting (AGM) will be held on Wednesday, 20 January 2021.

There should be an update on progress (if any).