The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Great find Luke2
A hostile takeover bid of approx. £167m for an 11 ktpa nickel operation! Meanwhile our potential 55ktpa operation is only valued at £58m! https://www.asx.com.au/asxpdf/20191104/pdf/44b7vs9lzzv41z.pdf
CP - The October figures for the tonnage in/out of the LME are crazy - 105k tonnes out versus 20k tonnes in as of 30th, so a net reduction of 85k tonnes. That's based on the Stock Breakdown Reports on the LME website, so as accurate as we can hope for. Can't understand the disconnect between stock levels, nickel price and our share price - something has to give soon.
Wasa - Concur with those timescales though I’m sure it could be accelerated. JM stated in one of his last interviews the permitting and DFS could be turned around much quicker than what they did for Araguaia so IMO possibly within a year but more likely 18 months. Add another year to agree financing / JV (though if discussions are already underway this could reduce considerably to a matter of weeks) and another two years for construction, so first shipments could be 2023/24 at the earliest but more likely 2024/25.
Joey / Geng - I can’t remember which one of you first called 4.1 (and I can’t be bothered to go back through the posts to find out) but I’m indebted to your opinion – I was just about to buy another £20k worth at 4.8 just as the discussions started, and for once I actually decided to hang fire to see how things panned out. Glad I did as I ended up putting it into NCCL at 4.8 instead, and look where we are now - HZM tantalisingly close to 4.1 and NCCL knocking on the door of 5.8, so I’m 7kbetter off for heeding to your opinion. Many thanks.
For me, these are the two standout statements from the interims -
The Zanaga Project Team continue to engage with a number of entities on the potential to develop the infrastructure associated with the staged 30Mtpa Project. A number of enquiries have been made by third party experienced infrastructure builders capable of developing all areas of infrastructure associated with the Project. A process is underway to evaluate potential financing solutions with these parties as well as possible value engineering opportunities such as reduced capital cost and shorter delivery times for key infrastructure components of the Project.
As part of the Company's ongoing review to preserve its cash resources, each of the individuals who is a Director and each person who provides services to the Company in relation to the day-to-day operations of the Company have commenced discussions with the Company regarding the re-negotiation of each person's contractual arrangements so as to provide for payments of fees in shares and/or options in lieu of cash.
Things are moving, especially behind the scenes.
Not if they're held within a SIPP or ISA.
And lets not forget with over 123m shares to his name, CF has seen his portfolio drop in value by more than £40m since the heady days of 40p - that's got to hurt. He's going to come out fighting.
Archy1968 - that document states the multi purpose terminal is 15km away from the SEZ -
"During his stay in Pointe-Noire, the chairman of COIDIC's Board of Directors launched the study of the multi-purpose terminal and corresponding access road to the SEZ, stretching 15km in total".
Again why not build a new port at the SEZ?
Great topic for discussion and I had similar thoughts, though there may be a need for additional breakwaters for more protection.
However I’m more interested in why they have chosen to build a new wharf at the existing port with a new 14km motorway to link the existing port to the SEZ rather than put all that money into building a new port at the SEZ?
We had the interims and a project update at the end of September 2018 so we might hear something this week.
Lets put that 1mtpa into perspective - it equates to 25000 truck loads, or 50000 journeys per year, or one HGV movement every ten minutes along the local road network, and that's assuming 24/7/365 operation! Anyone else concerned the $1m they estimate for road upgrades is somewhat low? This isn't going anywhere until they have a clear route to market, and lets not forget the EPP is not permitted or licensed in either CB or Gabon so we are years away from actual production.
I wish it was only two years - its a two year timeline for the construction of the EPP - and before that two year period starts, Zioc needs to finalise the various studies, secure board sign-off, obtain the necessary licenses & permits, and agree a funding package.
Not in the near future - I don't expect they will look to increase capacity until first power hits the grid in 2023, and even then the additional capacity will need to go through the permitting and licensing regime again, so possibly 2-3 years after that, and that's assuming the grid infrastructure in Moz and neighboring countries can take the extra additional generation without significant upgrades or reinforcement.
I'd love to be proved wrong, trust me I really would, but the RNS states "Depending on the achievement of a positive outcome and authorisation from the Jumelles Board, the Zanaga Project would then be seeking to move towards securing regulatory permits and consents, the negotiation of contracts and seeking financing for construction and operation." That's going to take time - maybe five years, maybe less, maybe more.
I can't attend tonight but perhaps someone could ask ZIOC to clarify their anticipated timeline to get the EPP up and running.