Member Info for caml

Interesting RNS from Gem Diamonds today. Velosa has left the board there. Is he needed more by us?

Hi extrader,
earlier in the year, before the investor relations stopped communication with investors, Andrew did say that the company was in constant dialog with the Ministry of Mines and that they were happy enough with the work program that they did not need to issue a use it or lose it letter.
Of course, we do not know what the current work program is because the company have not told us what they actually do. The re-costing exercise is purely administrative - what is everyone else doing?
ZIOC need to get their house in order. Tell us what is actually going on.
As ever, PI sentiment will mean nothing to the BoD. The list of failed work programs and promises is very long and I'm not going to bore everyone again! I am invested because the resource is undeniably attractive and I foolishly believed the dialog from ZIOC. Hopefully they will deliver something tangible in the next update.

I think some are getting a little carried away here! AGMs are where Board members get voted in, salaries and bonuses are voted on and generally a load of back slapping.
ZIOC are not close to a deal. RoC doesn't even have a signed in government, who would need to be in on the process.
Please, let's be realistic here!
On the plus side, I see iron ore has just reached it's highest ever value. Other miners must have a load of surplus cash swilling around.

Hi Sooty,
I'm not blaming Andrew as I know how hard he does work on the project and if you read the RNSes that are put out, they are very detailed and thorough. Ultimately, it is not his decision what and when to release. It is the BoD(s) and I have zero respect for them.
If the ZIOC Board wanted to earn some respect they could come clean. They could inform shareholders of Glencore's stance. They could explain what conversations have been going on in the past 18 months with COIDIC. They could do the same with regard to RoC govt discussions. Hell, they could give us the EPP costings from 2018 that they never released.
Now we are all holding on for the re-costing report that ZIOC said was not of any influence on any transaction. So, nobody was after a re-costing but we're doing it anyway. In the meantime there is nothing else to report on and update us on. Nothing! Zero activities worthy of telling the shareholders (how about reminding us that another year of our license has gone without any development?).
The only thing I can find as a positive is that the last RNS was titled "Update on timing of 12Mtpa Project". This would suggest there is a project and it is coming.
If they do not deliver tangible news, commitment, something other than waffle then I think there will be a large PI sell-off. Not that BoD give a toss.

you can see it's a movement between parties. There are 2 x 10m trades. As good as it is that someone wants 10m shares, someone is prepared to sell at the bottom.

You could say we have had a MOU for 17 months in that COIDIC said they would offer a route to finance as part of the agreement. Before people get too excited, AT did say that the driving force for the re-costing exercise was not COIDIC and was not a pre-requisite from any interested party. It was for the project to have up to date costings so that they could show a far cheaper investment case.
All I can hope for is that off the back of the lower costings, we produce an updated NPV and prospectus for JV / investors / acquirers.
AIMO

No comparison with ZIOC Popples. ZIOC will have talked about painting kitchen, tested many paints, got a quote for said paint, devised a floating magic brush, got another quote, decided to just paint a bit and get a few quotes for less paint, announce that they're going to get someone else in to do a bit of painting and then get the huff and give up.
You on the other hand have actually done something. Well done.

I do not agree with calling people names - I have nothing against Andrew. The company however have not delivered on any feasibility study or costing program since the EP was awarded in Nov 2017. That is a fact and can no longer be defended by anyone. The Board need to deliver value now or move on.

Let's not forget the failure to provide a end of 2020 update, as promised by the Chairman. Now a (potential) failure to provide March update.
And I might add, the failure to provide EPP feasibility study as promised in 2018, 2019 and 2020.
The issue with ZIOC, like many AIM companies, is they can talk a good game but it all falls apart when it comes to deliver tangible value. AT has said ZIOC is not like other AIM companies, so come on Board, prove it. Deliver some value or do the right thing and resign.

Silly me. Spent countless hours over many years researching and building relationships with contacts when I should have just gone and seen a gypsy. Sound advice Rambo.

Indeed, ORCP were trying to buy an African Iron Ore mine with Sheikh Al Maktoum

Hi Dude,
As the minority partner, unfortunately we basically have zero influence. We can have anyone on our board but if Glencore do not want anything to happen then it won't happen. Glencore has told their investors they will not develop greenfield iron ore and this essentially means that they can't do this. Until they change their direction and make sure their large investors are onboard, then nothing will happen with regard to us developing the project. Which leaves a sell, but again Glen are in charge and want unrealistic conditions, so the interested parties are pursuing other interests.
AIMO - I hope I am wrong and we chuck a huge For Sale (or Sold) sign up.
GLA

Just seen the Nigerians are about to announce the marginal oil field awards and want the signature payments...

This is one of the best informed boards and holders here know all the potential and all the pitfalls. We all want it to happen and I dare say we have all made money off the false dawns that happen occasionally. There will be 1 big rise - when? Who knows?
Maybe Nguesso will want to have a bit of a fan-fare ahead of election in March? He's currently opening university and visiting schools all on the PR trail. Last week he visited new parliament building that has been built by Chinese. Maybe he'll want to announce something for the economy?
Whatever happens, it's CNY now and no Chinese businesses will be open for a fortnight.

little digger who ran the twitter group.
Speaking of which, shrewdude, where is this rns you said was logged?

https://twitter.com/RedditJunior/status/1359072818005221379?s=20

If there's going to be any news before Chinese New Year, it's got to be very soon.
GLA

Chinese New Year in Feb followed by Presidential elections in RoC in March - can't see anything happening now until April? Probably why they got more shares out through Shard.
GLA

The Chairman said we'd get an update in December but this never came.
AT said we'd get an update very soon at the beginning of Jan but this never came either.
Only update has been about further dilution.

No need for him to be busy, the company are fully funded for the next 12 months. Doubt he's even in UK, probably in Brazil. GLA