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More of a long running joke between “competitive friends”..

Hopefully as a great man once said…”this time next year(hopefully week) Rodney”!!

Gla.

Thank you for this summary GGG, aligns with my thinking..

Also not amused that you have surpassed my holding in such a short space of time!!!..your tempting my “pride” to top up a few 100k..

Gla.

That the share price is being held tight here, to me implies..

A placement has already been agreed with the incoming strategic Partner..the share price is being pined at the placement price 7.75p until announcement (probably Feb 10), so as not to allow the share price to get away, and it to become harder to justify a private preferential placement (that we will not to invited to subscribe to)(as usual)..

Hopefully once we get this fund raise out of the way, it will be game on!..?..

For the record I think this is the catalyst we have all been waiting for(for so long!)..

Gla.

I feel we are definitely bringing in a strategic partner to fund the mine, and develop along side us…or they are putting everything/one in place to call bluff on any unwanted opportunistic offers(as in “we are not desperate, and unless get a offer closer to NAV, than the current share price, will decline), and progress to development..

We are getting very close to a major reveal here.

Gla.

I for one find Ex’s posts both informative and more importantly unbiased, and look forward to reading them.

So if you have nothing worthwhile to add, please crawl back to whatever dark hole you crawled forth from.

Gla.

Another positive from today’s RNS is that we can expect-

Project development strategy update (February 2026)

o Process plant Front End Engineering & Design ("FEED") results, including updated capital and operating cost estimates based on a DRI flow sheet developed through 2025

o Fully integrated project development plan, including economics of all project enhancements assessed to date

o Update on logistics and infrastructure solutions required to support the development of the Zanaga Project.

Before the 10th of feb, as per the previous update, this will surely be released prior to the Strategic partner update..

VERY EXCITING TIMES..

Gla

GGG-Shard, nonsense, the last subscription was over 18 months ago.

Current cash reserves, running on fumes, per update March 2025(probably about 3-6mths best case scenario)…although plenty to get us “over the line”(also per March 2025 update).

Think catbets(AI) summary to be a fair assessment, nothing massively untoward, apart from I believe the share price is 100% being pinned to allow further accumulation to take place. Easily done whilst there is no significant PI appetite.

It will be a whole different game come end of the month, as will the share price!

Just need to get the mine development funding sorted, I would say at almost “ANY” cost!..

Gla.

Vet- I agree.

I also think today’s increase in “value”, will be a positive factor, but only post a “deal” being secured(AKA mine development funding). Then, and only then will the brakes be taken off the Share price, and then the SP begin reflecting some form of sanity(the broker valuation would be a good start(50-60p)(with a upwards adjustment for today’s news applied!..

Gla.

A welcome uplift in value, however The Market doesn’t want to know..

Only cares about-

1) immediate funding

2) FEED funding

3) mine development funding

Everything else is just pie in the sky.

The good news is, we should receive answers to above points before end of March.

Gla.

Nibj…when we are so close to the prize!…you must be mad!!

Added 50k(shares) myself, don’t think we will see lower than 7.38p ever again, after tomorrow morning’s expected re-rate.

Gla.

Ex- tomorrow should be a solid day, rubber needs to meet the road, if we are gonna achieve anything close to fair value…

Gla.

S86- wishful thinking.

My guess is the next round of funding will be for the FEED stage at, or around the current share price levels ..

300m(ish)new shares at 8-9p mark, giving the £25m needed..

Don’t get me wrong, today’s RNS is very welcome, as we continue the progression towards development

Gla

China made a landmark pledge in September 2025 to cut its greenhouse gas emissions by 7–10% from peak levels by 2035. This is the first time China has set an absolute emissions reduction target, as its previous goals focused on reducing emissions intensity relative to GDP growth.

M71, that 4.35% may well be just the start!?!..

Also often where one billionaire goes…others take note, and follow..

I know I’ve said it before.,,..but..,..”this could get real interesting””real fast”..

Shared from the other board, curiosity of MM..

https://www.afr.com/interactive-freeview/2025/african-iron-ore/

It feels like “strange” that zanaga gets an indirect mention, in an article about all the soon to be “coming online” mines.

It’s like the author really wants to communicate to the world that “to factor in” Zanaga as a future source of high grade iron ore, but has been explicitly told “not to let the cat out of the bag”…

Well that’s my take anyhow.

It really feels like we are gonna get developed...

Gla.

Spot iron ore prices starting to take off…

$105@62%fe

We are 67-68.5%fe…there is no comparison to give you a spot price, but fair to say it’s well above $105..

You know can’t help thinking

The republic of Congo next presidential elections are due by the end March 2026…

And the board have locked their shares in, as requested by “the” strategic partner”, until….Late February 2026.

Do you suppose this to be a coincidence?

I suppose the signing of a multi-billion dollar international investment could be quite political..Zanaga at full production would increase the R o Congo GDP significantly all by its little self.

I’m sure the result of the “Free & fair elections”, will be decided by now..so don’t think we will need to wait for the “investment decision” too much longer.

It’s all coming together.

GLA.

MM- thanks for the “picking apart”, of the email.

Ex-….that would be lovely!..

Did anyone say.”END GAME”?..

Gla.

Dear shareholder

Thank you for getting in touch.

ZIOC is engaged with multiple parties regarding a potential strategic investment as per its announced strategy of finding a strategic investor. These discussions are at an early stage and so to announce details of the parties with whom the Company is negotiating could potentially be misleading and jeopardise those discussions.

No potential investor is a party to the lock-ins. The lock-ins are entered into between the Company and the major shareholders, as opposed to an investor, but these have been given as a result of feedback from the strategic investor process and to demonstrate that the major shareholders support the Company engaging in the strategic investor process.

ZIOC is aware of its regulatory requirements regarding announcements and will continue to make announcements as and when required by applicable market rules.

Kind Regards

Alastair

Sent to company-

Good afternoon,

Further to the announcements on the 29/9/26 titled subject.Execution of Share Lock-in Agreements with Major Shareholders

Is the potential investor engaged in ZIOC's strategic partner process that has requested the Lock-in confidential?

Or is there any other reason why the entity has not been disclosed?

If the 3 major shareholders(which have agreed to the lock-in) are permitted to know the name of the “potential investor” then why not other shareholders?

This outstanding information is preventing me from making an informed investment decision in regards to whether to add to my current share holding.

Regards (loyal shareholder).

People overthinking today’s RNs in my opinion, the lock in, is to enable the current board/major shareholders a platform of unity as we begin the process of a buyout/in. That the big 3 shareholders are aligned and retain a blocking card, gives a clear message to any would be strategic investor/buyer that we can not be “divided & conquered”, but that a deal MUST be done on “our” terms.

Positive news..

I Think tomorrow’s interim’s will make interesting reading..I suspect Marty might do a video presentation update as well..

A deal is coming..GLA.