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Thanks for your thoughts, as ever Rufiji. I remain positive about the medium-long term prospects for this company. My prediction of 14p was merely a short term indication as things stand, in my opinion. It could easily hit 20p next year. I remember the days you were talking about as I invested in this originally at 49p a share before averaging down. I do expect an upturn, as I think they have somewhat embellished the downsides due to the political situation. The board changes certainly look promising - we can hopefully leverage that expertise and they can inject fresh impetus into ZAM

What's caused the bounce the last couple of days? Rising strongly. RNS due?

I'm not wholly surprised by this, as I don't really see why they kept him on. If you're becoming a holding company, there really is no need for COO, as BLVN won't be responsible for operating either Etinde or Bonomo and there are no plans to acquire and develop additional acreage. They have probably just used Clarkson as a knowledge base/transfer for an interim period before they got a handle of the situation and company

First time I've really had a chance to sit and analyse the results from a couple of weeks ago. They were probably worse than expected personally, with the increase in debt being the most surprising. I am pleased the company's focus will be on margin management and shareholder return and the shake up of the board is pleasing and I think needed to bring some fresh blood and new perspective. Also a number of esteemed locals on there too. Good to see the capex investments in 2018 should be cash generative. West African operations look worrying, even stripping out the forex hit. Margins are not great. I would have this down as a hold and a target price of 14p

Certainly seems to be picking up, I had wanted to average down a bit but maybe too late.........

Thanks Rufiji, I'd read an article on the FT I think a week or so ago (wish I'd saved it to post here) but the essence of it was some African countries which heavily relied on commodities as a part of GDP (such as Zambia) were running up debts, not to invest in infrastructure but to fund day to day salaries of civil servants etc which is clearly a slippery slope. Hopefully the price of copper continues to recover but Zambia and a couple of other nations in particular were singled out for this, and there doesn't appear much confidence in current leadership. Time to buckle up, bunker down and ride out the storm

Think it’s more to do with the likelihood they’ll have to raise cash in the coming year. I think it could be a good time to top up too

Thanks Rufiji, good info. And I completely agree, operating margins are a concern and should be a focus for improvement

I don't think it's a long term plan, just a temporary tactic to get through the current political turbulence. I wouldn't expect they are a takeover target, as any acquirer would face similar issues but never say never. I think ZAM will just go quietly about their business expanding their retail footprint, increasingly abroad. Vertical integration is key to their success and riding out any fluctuations. Currently though they are just riding out the political storm, which we all hope will not be longstanding. You never know though, because as they say 'TIA' - This is Africa

Slightly disappointing numbers in my opinion, although the fundamental potential remains very encouraging. Likely they will need to raise more � in the coming year, so i think this will hold the SP back until then. I will look to top up on the back of any dips

So who has the highest SP here? I bought in at £2.48 but have since averaged down to 53p.............it seems to have turned a corner now

Agree Lokash, i haven't found the FT article, but it does sound rather chippy to me. If it was worthwhile news, it deserves its own RNS, rather than be hidden in half year results. It's such a petty point, it's not even worth an opinion on though, slow news day? I tend to avoid FT opinion pieces where possible, they don't add a lot of value

I've also had that view rev that they're bunkering down, trying not to be a target and becoming as risk averse as possible - all due to the unstable politics. I maintain they are a solid foundations for the company though and extending the retail footprint to other countries is beneficial

Does anyone know the return on investment for Zampalm?

I can understand the rationale for disposing of Zampalm, with its capital intensive nature and long lead times but it is disappointing all the same. Perhaps more so is the trading update as to me it doesn't sound like the worst is over with and I think the results might be towards the bottom end of the guidance. Management need to get a grip on things, as things are spiralling rather worryingly

Excellent trading update, can see this moving upto £4 soon enough.

To cut costs and save money, why else?

No update?

That is the benefit of ZAM, the diversification and having so many strings to their bow. Also, they recognise the key of vertical integration and developing the retail network. That way, they can more easily massage the margin and pass on any extra costs to the consumer (within reason and factoring in competition etc). Inflation does seem to be falling so it does appear to be light at the end of the tunnel, but in these less than stable governments, nothing is guaranteed

Hi drill8, I don't know enough about Agriterra but I doubt ZAM in their current state would entertain a takeover. ZAM are very much focused on reducing their debt and exposure, and growing their highest potential avenues of the Mpongwe estate and further developing their retail network. Borrowing for a takeover is not on the agenda in my opinion, they're looking to lower their risk. If they get a good solid few years under their belt, things may change though