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"There is no requirement under BVI law for a Company to hold annual general meetings"
Whilst registered country law takes precedence, the company is also governed by its articles of association, so the requirement may come from there.
Aberdeenman
Might seem a bit obvious, but not everyone will have HL as a broker, anyone tried a different broker, or is able to do so?
Aberdeenman
"So Shard bails out at 1% of what they could possibly get? Suddenly I see how it works!"
You don't know who they sold them to though........
Aberdeenman
Also worth noting the timing on the 4 sells at 14:16, and then those at 14:18.
The first lot were transacted in 10 seconds, and the second in 6 seconds.
Any PI would be hard pressed to do that on an online platform, so either a broker in house transaction (e.g. Shard) or a broker on behalf of an investor.
Aberdeenman
" but there is still zero institution in Zioc shares."
Wrong
It is not much, but there is a fund holding...
https://www.morningstar.com/stocks/xlon/zioc/ownership
Aberdeenman
In 2010 Iron ore was more expensive than today, but even taking that into consideration the upside is still huge, anything from. 10 - 50 bagger+, from the current market cap.
Aberdeenman
SP is still peanuts, compared to where it is going.
still think we will get to 40p pretty quickly, especially after today's RNS.
This is heading to (my guess) 230p, as per the charity list :-)
Aberdeenman
Should get to 20p in short order.
After that I wouldn't be surprised to see double that in the next couple of months.
Aberdeenman
I would love for all this to be true, but cannot find any listing for Cloudtag at the event.
https://msevents.dealogic.com/clientportal/Conferences/Presenters/List/344?menuItemId=10
Maybe he is just attending (if at all), but participating?
Aberdeenman
"could Saudi's courting of 'Big Den' be about Sapro Mayoko ...and ZIOC is the sideshow ????"
Who knows, but a rising tide floats all boats, or as you say "Even so, we'd still be in play....."
With sufficient infrastructure and political will/investor confidence, Zanaga becomes a no brainer for the right entities.
Aberdeenman
"I just don't see the SP go from 12p tot 150 or am I to negative now?"
Depends on the nature of the deal, if a proposed buy out the SP will go up in an instant, if more complex it may be a bit slower as it is analysed.
Aberdeenman
Eventually?
I reckon we are very very close.
GLEN knew what they were doing when they restructured their shareholding
Port news had to come first.
GLEN provided finance for Jumelles/ZIOC for this year, possibly indicating everything being tied up this year, meaning an announcement way before year end to give time for a deal to conclude.
It will take time to get infrastructure and facilities up and running, therefore best to do it in parallel with the port construction - slated for 30 months.
I think timing was/is just a matter of sequencing with many moving parts, but given the above and other parts of the equation described by other posters on here, it seems we are in the final weeks if not days before news.
GLA
Aberdeenman
The fate of ZIOC is hiding in plain sight!!
Those that cannot see it, will not reap the very substantial reward.
Shortsighted selling...a profit is a profit, but boy will you kick yourself when this is multiples of the current SP.
Aberdeenman
I doubt GLEN would have given over control with their 50% plus one share advantage if they though Elphick was a risk, I actually think the deal was pretty much agreed by all parties around then, and the principles have left the underlings/legal to work out the details and sequence.
Aberdeenman
Looks like the MM's are walking this down a little, opening lower, and keping the price down despite what seems like more buys than sells.
Could be a good sign, as they are either short of shares, or have an idea news may be coming soon.
Aberdeenman
No timelines???
As per the article I posted earlier, from last week...
"AD Ports will invest more than $500 million over the life of the concession, with about $220 million allocated for the first phase, which is expected to be completed over the next 30 months"
Note the NEXT 30 MONTHS
to get the mine started and a slurry pipeline in place (if that is the chosen method of transport), Zanaga needs to start operations ASAP as well.
Link again, no need to spout nonsense.
https://www.thenationalnews.com/business/economy/2023/06/20/ad-ports-signs-30-year-agreement-to-manage-and-operate-congo-terminal/
Aberdeenman
I agree with most on here, results will be a bit of a damp squib, so anyone hoping for a monster rise on the back of results, are in the wrong share.
They will definitely be hamstrung on what they can say, and timings mostly out of their control.
That said, I don't think we have long to wait.
If we get something along the lines of 'talks are at an advanced stage with various parties' that will be enough.
Aberdeenman
As per MM's post, current NPV is ~550pps. The amount already spent in the field not accounting for inflation is ~48pps.
So current SP is way too low for where this will end up, only questions are when and how much, but it is certain to end up many multiples of the current SP.
Aberdeenman
The huge asset has always been marooned due to lack of infrastructure, that has now changed with the announcement of a new port
There is massive interest both globally, but specifically from the Middle East, especially Saudi, in Green Steel for their mega projects. Add in the unreliability of the west towards certain countries, then there is a need for another source of high quality ore. Zanaga has the biggest, high quality, undeveloped ore body in the world. Initial extraction is straightforward. it is at ground level, transport was always the blocker, along with attracting someone with deep pockets.
GLEN realigned their holding in favour of Zanaga at the end of last year in preparation for a deal.
Very simple summary, read back on this board, lots of info.
It is happening, and although some of the figures quoted on here seem pie in the sky, they are not, GLEN along with other major shareholders will extract a high price, the BOD have not diluted shareholders over the years so major shareholders, including GLEN, are in full control, we are just hanging on their shirt-tails.
Aberdeenman