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Very interesting, extrader!! Turning the full circle in the ROC??
Or is Glencore going to buy roughly half the new shares every time offered, thereby keeping the relative holding identical? Would they have to declare such an arrangement due to insider trading regs?
Yes, you are correct, that is the way Glencore operates. I offer £10 for all of ZIOC, they are bound to take it :-)
The loan is hardly even a rounding error in the Glencore accounts.
"Following a recent evaluation meeting, the Commission Régionale Unifiée d'Investissement ("CRUI"), the regional investment authority, was unable to approve the application, and consequently the Company has exercised its right to refer approval to the Ministerial Committee, which is chaired by the Head of Government and includes several Government ministers."
Whenever I floss my brain, I keep pulling out the axons. Ouch!
First tender for Arise IIP's special economic zone at Pointe Noire (PICP).
https://pic-roc.com/en/rfp-for-construction-of-marketing-office/
"RFP for Construction of Marketing Office and its other allied works at PICP, Pointe Noire, ROC
10 Jun 2023"
##early doors but at least a start.
If there is indeed more than one serious suitor here, would they up the ante at some point by making a public bid for ZIOC? Or is due to the particular share structure here, an 'arranged marriage' mandatory?? Just curious.
Just mulling over construction costings. All fine and well, scrape a few percent over previous estimates. The bigger picture does not care about the about the couple of hundred million, the strategic and overall value is so darn massive. That is NOT what is going to drive a investment decision. So yes, these new costings are a total game..imo
Thanks for that, veteran. It smells like a huge game of chicken to illicite the largest sell price. China Vs Saudi Arabia?
I suspect the sticking point point with any deal are the Glencore marketing rights. Potential poison pill.
The problem is and always was Glencore's control over the project. Subject to its desires and whims
.. joint venture on.
..and started getting out the Xmas decorations.
Poor Dia Ria is the world 'worst tamper. They are probably crying over their trapped shares right now ha ha
That is all very nice, but do you have anything actual to say about the company's situation here? Some insightful analysis would be welcome.
"Or maybe we're missing something ?"
The real announcement required is a dedicated iron ore port. The mole is nice but small scale. The announcement of iron ore port could happen in next few weeks or months..
And welcome to you too. The first gloater of the day :-)
The blame really lies with the company..
On the April trajectory they should have sold more than 33kt in the last 2 months ( at least 80kt). So, not good. And yes, we have no idea about quality which they had problems with at beginning of year.