Member Info for allthatguff

Oh, no...the "by Xmas" statement, the kiss of doom ha ha. Just like the telly house builders who always want to in by Xmas.

No, be positive, let's say beginning summer at the very latest.

As far as I can see it is a mutual obsession and attraction? :-)

..hate to be out of over the weekend :-)

Spring sale must end soon!

Interesting thoughts those, just maybe maybe??

Matt, you seem to assume the ZIOC board are totally inept and signed it all away? I don't think so. The project action will come before the 6 months is up anyway, I reckon. And yes, Glencore will sell their shares for 7p as share. Really? Nope.

ALB1 aka stool aka the turd

This project embodies huge inherent value, even just getting to this position.

"Extensive engineering of the 30Mtpa staged development project
>U$350m spent on extensive evaluation work including detailed technical studies and resource drilling"

page 22 of https://www.zanagairon.com/wp-content/uploads/2019/06/ZIOC-IP-28.03.19.pdf

The company should not be letting silence fester and what is wrong with an up to date presentation and accepting written questions from investors? Bad enough dealing with the opaqueness of Chinese consortia without the lack of corporate interaction here .

Sorry, just venting, but these are fundamental issues of trust to me.

If that is the case 99IC, then it is back to square one for mine design. Would be a major f- up and egg in the face.

Hi LT, a fair point regarding consortium which could be a possible explanation but the costs will always shift, especially when dragging on like this. Surely contingency and forecasting is always built in? Again, not confidence inspiring.

This may all be fair and above board, but trust once lost is hard to regain. My gut says this is all dodgy but I may well be wrong. I take big risks for a return but this thing is very very off-putting currently.

I suppose the kinder interpretation is they know nothing about potash mining but had a stab at it. When confronted with a guarantee in writing they panicked? Not confidence inspiring either if true..

For example..

last RNS of 31 March '23

"PowerChina is now [now?? only, now really, weird wordage??//] actively involved in the process to finalise the EPC contract terms. As part of this process, PowerChina is reviewing aspects of the Kola design and the planned construction schedule [//really>> we had optimisiation study released in June '22??]'and has had direct communications with the management of Kore. PowerChina's review has generated a number of potential design improvements to the project that identify opportunities to further reduce the capital cost and the construction schedule [//again why not in optimisation study??]."

"PowerChina has engaged a number of external experts to support its review of the Kola design [//why now?? should have got it right 1st time or during optimisation review]] and they require completion of this review to support the provision of the required EPC contract guarantees. [//?? guarantees, why is this an issue now, surely a boiler plate contract issue, especially for a huge giant like SEPCO??//]"

>>None of this makes sense to me, other than to delay??? Another year has rolled by and they are still messing about? when is this all going to be finished, when is it going in front of SEPCO board? Open ended and unclear, very unsatisfactory. Is the Minister going to start random arrests again?

Maybe align can also explain why Sepco III keep changing their story? I, for one, do not understand.

That is my short term hope and fair for where we are currently without further news. Any sniff ofspecific project news and skies the limit..

?

Struggling? Your keyboard faulty or is your bank account overdrawn?

..the sound of our hopes deflating. Ha ha
Ah well, only 5-10 years until litigation is resolved.

More than 5p a share I reckon, marcus :-)

Depends on price of iron ore. A 13mtpa mine... at $30 a tonne profit (very doable) $390m pa. Nets the 25% isb just shy of $100m pa. Would represent a tidy sp me thinks..

Or can use profit from stage 1 to self fund stage 2's 30mtpa. See the presentation doc graph

To go with my previous post, current 65% iron ore price at $148

https://www.metal.com/Iron-Ore/201804260009

65% Fe Fines (CFR Qingdao Port): IOSI65, USD/dmt

Avg.:148.4
US Dollar
Apr 10, 2023

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