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doesn't look like we are getting out of this mire anytime soon !
production update released 2nd April, we are now the 4th and nothing yet
why do the majority of your posts contain some speculation as if you have some inside info, which you clearly don't , take your last about counter bids, how can there be counter bids when no bid has been accepted in the first place and ACI have ended the process and no-one offered what ZCI expected in the first place. Is a buyer suddenly going to think you know what, I had a whole year to do something but didn't, but now the process is closed I think I just might !
I just think the whole situation seems strange, surely it wouldn't take you a year to realise that no-one was going to pay what you wanted, as I said before it would have been more informative if they gave come information on either what was being offered or what fair value ZCI placed on their holding. As you say production is increasing so hopefully the next update, will start to see the share price rising, it was only 2 years ago I think that the price hit around 6p over Christmas and back then we weren't producing the copper we are now. My average is now below 4p so still along to go before I can get out and it had cost me lot to get that low, so if anything bad happens then I will be in a pcikle !
what have you got to say now ? back in January you said that according to a rumour the cautionary announcement would be the last, I assume now that the rumour was there was going to be no deal !
1 year in the process and then nothing, something has to be amiss somewhere. It would have thrown a bit more light on the situation if some mention had been given on the offers proposed so at least as shareholders we have some idea of if our holding is worthwhile, becuase as I see it now this is going nowhere
to the review process, one year old
if they are, they haven't invited me
until the sale process has been going on 1 year.
what rumour have you heard ?
to go before the strategic review has been going a year !
Taken from the RNS "The main mining contract at Thakadu mine, which is due to expire on 31 March 2013, is currently under review and being renegotiated. Pursuant to this, certain mining equipment has been demobilised. In the interim, mining operations continue with both the existing main contractor and a second Thakadu mining contractor who has been on-site since mining commenced at Thakadu. As a short term measure, management is also looking at equipment hire or short term contracts to augment mining volumes. As a result of the negotiations around the mining contract, the Company is expecting that less volume will be mined from Thakadu until additional equipment is delivered and the mining contract review finalised. The reduction in mining volumes is likely to result in lower mining costs. Any impact on ore delivery during a possible transition phase will be mitigated by the use of oxide ore stockpiles situated at Thakadu and Mowana Mines but the use of reagents to treat the oxide ore will increase treatment costs, reducing the benefit of the lower mining costs. "
there wont be any, they didn't release any last year in January and I can't see why they will this year, the next update I guess will be in April as last year, I tend to take zcifan comments with a pinch of salt as they have yet to prove reliable
there was no production in January 2012 the earliest one was in April 2012, so why would they put one out this year ?
hit yesterday, I am getting a feeling that we are going to get shafted soon on this share. from memory a couple of years back we hit 6p over the Christmas period and we weren't even close to producing what we are now, so how can it all go so wrong
we are around 1 month away and it will be a year that the review has been going on, this can't be right ,if they have generated no interest in a year then either the business is not attractive to anyone or the personel in charge of it are incompetant !
despite all the good news behind the increased production we still fall, this really is a POS and the board need to get something sorted soon and improve investor confidence
http://www.ft.com/cms/s/0/07fff7cc-1d06-11e2-abeb-00144feabdc0.html#axzz2AIzkSytn High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/0/07fff7cc-1d06-11e2-abeb-00144feabdc0.html#ixzz2AKBrTjoF Interesting bits in article, its in America so don't know if it can be compared to ACU With an annual production capacity of about 60,000 tonnes of copper, one analyst estimated that the mine could produce some $300m in earnings before interest, tax, depreciation and amortisation, were it running at full tilt. However, with a limited mine life and uncertainty as to whether it will return to full production, the mine might fetch less than $1bn, others added.
hardly encouraging
so what are we missing ? the share price hasn't even risen !