Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
*sphincter*
The fact is, nothing appears to be leaking here at all. So either there is nothing happening or the process it is tighter than a Platypuse's sphinxter 😄. Sp means boogerall, imo. Market is absolutely broken.
Thanks, MM, it is certainly all hotting up for the Zanaga announcement 🔥🧨🔥🔥🔥
Got to hand it to you beardozer, you made me smile 😄. Cheers 🍷
Ps. Don't worry about Zanga, you are in the right place at the right time (finally!).
2 comments..
1. Read the last Rns
2. The SP is stupid and knows nothing
I feel great, very optimistic. Just nothing left to say..just watch.
Oh Man! Hardly anyone not in contention..
Auction off the bloddy company 😜
I know you won't laugh MM 😁, but I can see a queue of nay say readers who go "no way", look at the SP yada yada. But as we know the SP is meaningless, it basically values Zanaga at ZERO.
It could indeed be higher the valuation.. but don't want to be accused of ramping 🤣
It is funny looking at the old Dec 2011 ancient Edison report, a time when high grade iron ore and green steel were not in strategic demand...
"Our base-case valuation of the Zanaga project is US$4.3bn in current money terms (discounted to FY11 at 10% to account for the opportunity cost of capital). In our valuation we used a 10% nominal discount rate and applied a 25% haircut to ZIOC’s attributable value to account for the lack of control, as the project is effectively managed by Xstrata. It implies ZIOC’s attributable value of US$1.7bn or US$6.0 per share (£3.8/share)."
So don't laugh at the £4bn mcap figure!!
My own view, this worth mcap £4bn easily, so either 20% buy in new investor (ie £800m) or Glencore gives up marketing rights and Zanaga is totally sold, £4-£6bn? A big investor (China) will probably want it all ..??
We should be so lucky to get a total sale 🙏🙂
A plausible narrative, yes, we will see. What interests me more than who is the shape of the deal, ie what do we get out of it..
I would love you to be right, Jiving!! Fingers crossed 😁
All good jiving 😊. Forget the past, we are not going to agree, it does not matter..
I believe (what do we know, lol?) that Glencore do not wish to sell this unless they received something so big they could not possibly refuse. Their strategy appears to be to milk this for many decades and maintain a healthy interest in the project. Glencore as multinational has oodles of cash (give more to shareholders? No), what they want is long term security and income streams, imo.
J. a few points...
"Clearly they would prefer full ownership & sole control - which is on offer here" ..is it??? Err, at least not publicly.
Glencore were the majority controlling partner for the vast majority of ZIOC's time, yes "option value", that stands (cannot simply be shrugged off as 'throwaway'). When they incorporated into the company very recently, even then the unpalatable strings were attached of "marketing rights". Plain to see where the big obstacle was and is, imo.
Agree to disagree. Anyway, that is all history, I am supremely confident in this going forward..
J. Fact is, Glencore called this "option value" for well over a decade. Agree to disagree 🙂
To be repetitive. To be fair it is not Elphick where the delays over time lie, Glencore has always called the shots. We accept whatever Glencore accepts. Plus there are plenty of other stranded African iron ore projects out there, Zanga is not unusual.
It is the overwhelming agony some marathon runners experience when they can finally see the finish line, they collapse within meters of the line but crawl over to finish..
..bodes..
Its non appearance boxes well??
Thanks Matski for the good cheer 😁. A super week and good luck to everyone!