Member Info for beardozer

I'm surprised nobody has answered your question already but I'm friendly without demanding you DYOR.
Basically, the Zanaga Project is a "world-class" iron ore mine with lots of high-grade iron ore. £3 might be slightly optimistic but if it's ever developed then ZIOC shareholders ought to receive a lot more than the current SP. Unfortunately, GLEN is in complete control (owning one more share in the project) and, so far, they have betrayed their shareholders by not maximising shareholder value. And they've stated they're not keen on projects without existing infrastructure. So ZIOC is a huge gamble and it will probably be taken over for a lot less than its true worth unless GLEN does the decent thing and sells the whole project for as much as they can get. The current SP merely indicates Mr. Market's dim view of anything ever happening. The upside is huge and ZIOC is 20% of my PF.

I can't believe all the crap I'm reading on here! It's becoming a joke and making me question everything about BEN. And judging by the SP other investors are also having doubts. Rampers: you really need to be more sophisticated and stop posting every 5 minutes!

Assuming MCLS goes into Administration what happens if the converted Morrisons stores attract high bids from someone who just needs to change the name above the door? Huge loss of face for Morrisons - maybe they'd better offer £20m for MCLS before it goes bust?

IMHO the RNS was designed to crash the SP - they didn't have to say what they said! "Increasingly likely" means nothing!
And "little or no value" butters a helluva lot of parsnips! Either Morrisons will offer £10m and we're all supposed to be grateful or they will take what they want after MCLS goes into Administration.

None of my business as you've already declared you're down £100k but what is that in percentage terms? It doesn't change the loss but puts it into perspective. As you say, ORR is notorious for EVERY rise being sold into but it's not true for every AIM share. I agree with Catbert: "My target is that they are a £100m cap in 3-5 years. Either that or down to zero! Hopefully not!" A binary bet to join all the others in my PF!

Nothing wrong with a flutter! Meanwhile, the Mkt. Cap. is rapidly approaching the price of a secondhand car!

It can prove very expensive to be "an inexperienced trader with conviction." And you can't "prove you have invested correctly" until Mr Market agrees with you! However, I agree that having DYOR then conviction is required - BEN is one of the few shares I've researched and invested in that has actually delivered (so far). Most of my holdings are binary bets which is a bit like playing Roulette but not quite. A binary bet PF would include ZIOC, MCLS, LOGP, GRX and IIP. If BEN doesn't hit 150p by Xmas I will also be disappointed but nobody's going to rub it in your face if you're prediction is wrong! You need to relax! Being in charge of other people's money can take a huge toll and it's not worth it! And I'm 99% sure your mum will soon be up 50%!

Why do you like Tim? "Tim has over three decades of experience in gold and base metals blah blah blah. He has worked at all stages of exploration, development and mining, and has a strong track record of delivery blah blah blah. Some of his more notable roles to date include exploration manager (Eurasia), Barrick Gold Corp., project director and later CEO of Tethyan Copper Company Pty Ltd (a Joint Venture between Antofagasta Minerals and Barrick Gold Corp, owner of the Reko Diq project in ****stan), and more recently as COO of TSX.V-listed Reservoir Minerals Inc., which was sold in June 2016 to TSX-listed Nevsun Resources Ltd for US$365 million. Tim joined the company in March 2018." And judging by the SP performance since he is out of his depth! Having said that, all tiny gold miners/explorers are having a tough time at the moment despite rampant inflation. Buy now while it's cheap? Or invest in Lego? Teddy Bears? I've been watching too many episodes of Scouting For Toys!

Yes, shareholders do have a vote but stronger forces tend to prevail. What price would you like to see offered for your ZIOC shares and what price would you reluctantly accept? Bearing in mind it's entirely out of your hands! Realistically, I'd be more than delighted by a £3 takeover offer and more than disappointed by a 50p offer despite it banking me a 525% profit. It might sound a lot but the opportunity cost of remaining invested in ZIOC for several years has been huge.

...but I remember being invested in Raymarine many years ago when all hope was apparently lost. So I sold out at a huge loss only to see the SP 15-bag after an unexpected takeover offer! Unfortunately, MCLS is a more complicated company and Morrisons will want to spend the least amount of money it takes to acquire it. Let's hope a white knight suddenly appears! A classic example of "Expect the unexpected!" and probably be disappointed.

...and then I'm all in!

You've changed your tune so you can't be a paid ramper! LOL " IMO, hold for a couple of weeks once we get an update on things and if we are not back above £1 then maybe it is time to cash out. Only my opinion. DYOR." Really? While wishing I'd sold more shares @ 103p I remain confident and BEN is still my largest holding. Should the SP continue to fall what will you say to your family? Wouldn't it have been better to invest each member in a different share? Preferably several which always makes it more interesting and then they wouldn't be one trick ponies. Eggs and baskets? BEN can't be the only dead cert!

A timely reminder of why we're all here!

"I’d be happy for GLEN to buy us out with some of their shares held in their treasury (2:1, 3:1) to then flip the project as the sole owner." Is there anything significant about Treasury Shares being used to takeover ZIOC? Would it be advantageous to GLEN (or any other interested party?) Are Treasury Shares somehow "dead money"? I see GLEN currently has 1,425,373,010 shares in Treasury which is almost 10% of their shares in issue. At an SP of 473p, one GLEN share in exchange for three ZIOC gives us 157p which would be perfectly acceptable!

But compared to what? The current SP or the placing at 20p? Or the 52 week high? Morrisons could offer a derisory £25m and the SP would be 10p which would mean the Director who invested £millions @ 20p would still get half his money back. Anyone would think the Management wanted the SP to plunge 58%!

How is this a £4bn company? I think you will keep seeing new lows for the foreseeable future! And it's already down 74% from its 52 week high. Another 74% drop gets the SP to 548p. Another 74% drop after that, assuming it's still in business, and the SP would be 143p. Good luck!

It's a strange world where it's cheaper to order a takeaway meal than cook one yourself but that won't last long! Retail sales are plunging and discretionary spending could halt completely. It might even become fashionable NOT to spend money. Is it possible for an Economy to disappear up its own rectum?

Endless good news yet Mr Market refuses to be impressed. Coiled spring springs to mind but WTFDIK? Irish Energy Security is the catalyst and it can't be Green to import energy if it's already under your feet (assuming you're standing in a boat).

Directors couldn't care less how many diamonds they find as long as there's money to pay their wages!

News that Mexico is nationalising its Lithium as it's tired of gringos making all the money could be the thin end of the wedge and only accentuates Geographical Risk which ZIOC shareholders are well aware of. Even more reason to be thankful GLEN has a steady hand on the tiller. Come on GLEN, do a deal! Make your shareholders very, very happy and ZIOC's too! Or is Mr Market saying there's no need for more Iron Ore as we're heading into the worst Depression of all time?