Member Info for allthatguff

Note.. Zanaga's Chinese co-operation agreement also resulted in nothing in the past. Not a good omen.

I agree Mitch, Zanaga is unlikely to be sold as I have maintained on Zioc board before. JV / farmout more likely. Yes, Kore could sell more easily, but a fair price depends on competition and a secure legal environment. Unfortunately the latter seems to be missing. Random arrests, threatening letters etc. Currently the Chinese offers are basically take it or leave it and that could be problematic potentially. Or it will all go swimmingly from now on. It remains to be seen..

And that is way a buyout is unlikely,imo, Glencore will not give this away for peanuts. The can get far more long term value financing this for equity interest given away.

The current iron ore price is way north of $110 for high grade 65% .

The £1-2 valuation is nonsense..

From one of my previous posts..

"Go to the Zioc website presentation section and look at the March 2019 presentation again. Pages 20-23 Economic evaluation exercise. The iron ore price is currently way north of some of the illustrative examples used.

At around $110 per tonne stage 1 & 2 Net Present Value (NPV) is $3943m based on a 10% real discount rate.

https://www.zanagairon.com/wp-content/uploads/2019/06/ZIOC-IP-28.03.19.pdf"

The likely correct question is how much equity will be given up to fund stage 1 and 2?

Buy out unlikely, imo, rather a JV/farm out.

Except, unlike Zanaga, Kore does not have a major partner such as Zanaga has with Glencore. Makes life far more difficult for negotiations and clout. This is not out of the woods yet..

Thanks for lifting the veil on major miner requirements, MinorMiner :-)

9.75 close. Excellent.

Why is Glencore still here?

The answer speaks volumes to the quality of this asset and what is about to unfold..

It is an interesting thought Jiving. The progress in negotiations does seem to be struggling here, Saudi could be plan B if China messes about.

And what does that signify Minors?

..before this reaches a realistic mcap . Early days of the Rise.

Wowza, its even brought Sidney off the sidelines..

Sounds like fun, extrader. Enjoy and blow some bubbles :-)

Aberdeenman's quote "I think Glen wants this at arms length". I have argued this before making a case for a JV rather than a buyout now. There is another sound reason for arm's length. The proposed mine will be in an environmentally sensitive area and could generate headlines for which Glen will not want direct flack.

What we are all thinking. On the face of it, Zanaga is an odd choice for a fund. Very obscure, tiny mcap and moribund for over ten years. The kind of thing that no sane fund manager would take on, except if it you somehow knew it was a more certain bet?

Currently a tiny holding, yes. But one of a helluva coincidence considering the discussions on this board. Will this percentage grow in the coming days?

You just need to know when to turn off the "chat" feature, ALBot's contextual analysis is lousy.