Member Info for Driving

It must now be 100% obvious MM=S86=Eddsy.

Gla.

S86-

The way I read it is that we(the market) will only be informed post completion of each tranche being subscribed for.

Happy to be corrected, and therefore “nothing to be careful about”, just that I may have misinterpreted?

Solely at the discretion of the Company, a third tranche of up to 12 million Subscription Shares will be subscribed for by SMC (the "Third Tranche" and together with the First Tranche and the Second Tranche, each a "Tranche"). Any such subscription will take place within 14 trading days of the earlier of: (a) the date on which SMC has sold all the Subscription Shares subscribed for in the Second Tranche; or (b) such other date as SMC and the Company agree.

Sales of Subscription Shares

As regards each Tranche, SMC has agreed to use its reasonable endeavours to place all the Subscription Shares comprised in that Tranche within a three month period from the date of issue of the relevant Subscription Shares to it (the "Relevant Three Month Period"). Such period can be extended prior to the end of the Relevant Three Month Period by either the Company or ZIOC giving notice to the other. Any such extension is for a three month period from the giving of the extension notice. All such sales are subject to trading restrictions, as mentioned below.

Again S86, if you read it differently, happy to hear your input?

Also what’s your take on all the recent “black trades” , and uptick in volume not being accompanied by a rise in sp?

TIA

Gla.

I’m guilty of adding a few myself.

For any new investors..please watch & share..

https://m.youtube.com/watch?v=vELdbUybOQ0&pp=ygUPemFuYWdhIGlyb24gb3Jl

In summary our CEO states he is confident of getting project finance through new strategic partner(s)..

He is a respected industry giant, who states he has never seen anything like our project economics before!

When the deal(soon) gets announced this share will be life changing for many who saw this opportunity.

IMO & GLA.

AWS-Ok I’ll bite, “what have you recently learned”?

By his own omission, who is accustomed to swimming in the sea.

With our current market cap of £46m, we are barely even a pond!

He states in the interview this is “one of the most exciting projects I have run the rule over”.

Can I put it as simply as I can..

You rather believe what marty has to say(and will get a deal done), or you think he’s taken on the role of our CEO for a laugh(and thus in turn risk he’s very high reputation).

Ps on a side note he almost can’t control his excitement(5.03), and spends most of the interview barely able to control himself when discussing zanaga.

This an important crossroads for many of us, believe in the process, or give up.

I for one am extremely confident of a deal being reached.

Gla.

Vet-excellent spot!

Vale will definitely be involved IMO.

Gla.

Mm- I seriously don’t know how you find the energy to post so much, but highly appreciate the info/opinions you share.

There are 3 stumbling blocks to any potential new strategic partners buying in/out IMO(although not unsurmountable)-

1/ The off-take

2/ Glencores 44.39% holding.

3/ The pricing difference between the NAV & the current share price(99%+!!)

1-As you have recently mentioned there is a clause that would allow for a renegotiation of the off-take if the companies share structure were to significantly change, I believe Glencore value the off-take above all else, and would therefore be adverse to giving any of their secured off-take.

2-As above Glencores holding underpins their off-take, as well as giving them a large say in any potential buyout/in.

3-Any incoming strategic investor will point out our public listed valuation in their negotiations, and although hopefully the updated NAV will provide the highest weighting, the current market cap will be a factor.

The updated costings were AMAZING,

Providing 26.2% ROR(stage 1) & a whooping 28.2% ROR(stage 2).

Glencore would be mad not to at the least Revisit their decision not to advance this project!, it trumps almost anything in their portfolio.

And here’s the thing, all the above stumbling blocks would not apply to them.

As my previous post Glencore have always held all the trump cards, and thus it has always been about when they felt the time was right to develop zanaga…That time is NOW.

Gla.

Ps(ex) this whole process(restructuring/updated costings/port partners) was never done with the consideration of us(PI’s).

So yes well are well & truly past presentation point IMV.

Gla.

Ex-

My opinion(and only that) is that “ It’s all about timing”.

There is a reason that Glencore(Xstrata)where originally attracted to zanaga, and we have remained part of their asset portfolio since(surviving CEO’s, and asset de-risking ect).

I will attempt to list some of the major obstacles to our development these long years-

* lack of infrastructure(no rail/port).

* Negative PR of developing an iron ore mine in/adjacent to a nature reserve.

* Iron ore mining is dirty/non eco friendly.

* Over supply of iron ore/lack of demand(outside of China)

* Unfavourable pricing(excluding unsustainable spikes)

These obstacles are abating rapidly-

* slurry pipe alternative to rail/ AD ports concession.

* The new net zero carbon agenda trumping the negatives of developing new large scale iron ore mines-GREEN STEEL.

* Alongside simandou, a new mining frontier being opened to the world(west Africa).

* Countries competing to achieve net zero by transitioning to Green steel, as well as the rearming/reconstructing of the west.

* A evident and fast developing disconnect between the low grade(Aussie rust),and the sought after high premium attaching high grade iron ore(which we are blessed with).

Glencore did not give up a controlling stake (50%+1 share) in zanaga for the offtake, unless they believed there to be something for them to offtake!

They in truth funded the updated costings by loaning us the monies, and then allowing us to repay them through the issuance of new shares to repay them(and in turn diluting their holding).

It is my belief that Glencore are ready to make their move, and they are(and have always been the primary driver) for zanaga to be developed.

As to the slight time slip, it is in my opinion due solely to the port partnership(MOU)(which is not in our boards control).

The primary reason we have remained undeveloped(comatose)for the last decade(plus), has been due to no viable means of us bringing our product to the market. The costings update has given us the method(slurry pipe) to deliver our ore to a domestic port(we were never going to be allowed to ship through neighbouring countries(Guinea), we just need the new AD port to be(gin) construction(be built)…which the board seems to believe is imminent(as per my previous post).

Gla.

My take on the 3rd tranche not being issued is Highly positive,

I don’t share jiving concerns on the matter of the loan repayment scheduled to be repaid by 31st July, as the loan can be extended(as evidenced twice previously).

But that the “going concern” caveat will need to be embodied in the annual results due 1st week in july(at the latest), coupled with the obvious increased cooperate cost(I’m sure Marty ain’t working for nothing/will be interesting to see what his pay packet looks like) I would imagine would be of some concern to the board(as we are running on fumes(£400k max)…unless of course there was a plan in place that would need to be executed in the next 6 weeks!

We really haven’t got long to wait..

My previous concerns of a potential RI have been made redundant by my recent communication with the company, and the share price action/lack of PR(necessary to promote such a fund raise), not to forget the obvious lapsed time, and impending

deadlines.

Gla.

I’m still leaning towards a compete buyout/takeover.

Good 2 c this share is sending others crazy In anticipation of the coming buyout/in..

On a side note our paymaster general prefers organic growth-https://www.miningmx.com/top-story/56905-glencore-boss-says-organic-growth-preferable-to-ma/

Well you don’t get much more organic than zanaga!

But seriously it’s not improbable that the updated costings were in fact done on glencores behest, after all they indirectly paid for them.

Gla.

Fully sold out here, for now..

Gla, & hope it carries on up for you all.

That We are at a mind boggling 99.31% discount to NPV..

Now don’t get me wrong I’m fully aware we will not get anything close to the full NPV, but don’t let this insane valuation anomaly pass you by, it maybe the greatest opportunity we ever get!!

The canary in the coal mine theory should be put to rest by the recent board statements..

Marty Knauth, CEO commented:

"A large volume of work has been completed during the recent six months by ZIOC, MPD Congo and our consulting Partners, which I am very satisfied with. This detailed re-costing study further demonstrates that the Zanaga Project provides extremely robust returns for investors and significant infrastructure assets and positive legacies for the Government and people of the RoC. During recent engagements with RoC Ministries, communities and potential strategic investors, the burden of being the first mover in the region of high grade, low impurity iron concentrates for green steel production, is strongly supported and makes for an exciting future for Zanaga.

From this foundation, the upcoming FEED phase will not only seek to validate and enhance our technical confidence but critically, develop Zanaga's management plans around environment, community, training, health, water, mine wastes and ultimate closure. We believe these are equally as important as safe and reliable engineering, and financial viability."

Clifford Elphick, Chairman of ZIOC commented:

"I am delighted with the results of our 2024 Feasibility Study update, demonstrating the attractive economics of the Zanaga Iron Ore Project in today's market environment. It is exciting to have secured updated pricing for the development costs of the project from experienced Chinese partners with extensive experience in iron ore process plant and slurry pipeline design and engineering.

We look forward to presenting these results to the various strategic partners we have been engaging with and advancing our discussions further with them as we look to progress towards front end engineering and design of the project"

Lassonde curve-https://images.app.goo.gl/5aGPvnMV2Dims3rn8

* The most likely time for a major to purchase a junior mining company is after Feasibility Studies are complete but before construction is underway. This is the optimum time for a major company to acquire the project for the best value/risk ratio.

No prizes for guessing where we currently are!, sit back and enjoy the popcorn…

Gla.

STPM-

I agree, added again!

Can’t be long now..

Gla.

“The market can remain illogical, longer than you can remain solvent”. Comes to mind..or have I been in here so long, it has merely made me illogical!

Come on board, time to deliver our strategic partner…

Gla.

Hi AWS-

Yep my neck of the woods, hope you have a great time over in north wales.

Thanks for all the good research you share, hoping it all stacks up to a positive outcome for all invested here.

Gla.

A notoriously leaky ship!!

Good to finally be up in this..congo(republic of), sure seems the place to be!!

Gla.

Jiving,

My observations of todays trading is that the reported buys vs sells are largely accurate, excluding that the 329,000 was I believe most certainly a buy(and why the SP was worked down to fill this buy order).

Giving £64k buys vs £22k sells(or there’s abouts).

Gla.

Hi s86, I missed you too!

The point I was trying to make about a potential RI, was that I would be supportive of such a measure, if that was “what it takes” to “releases shareholder value”.

I took this question up on my call, and am satisfied that “although the company had previously considered this option, it was not thought to be a preferred way of raising the necessary funds to progress to the FEED stage”.

I therefore committed still further of my own funds to invest today, and will continue to do so.

Gla.

On a side note-

There’re really hasn’t been much selling here for eons, there has been a lot or transfers(Bed&isa?), but nearly no chunk selling(even yesterdays £80k trades bar one 50k were transfers).

Do as Nibj suggested have a chat(call) with the company. Then you will probably chill out & feel like adding to your positions here(well that’s what I did/done).

The company really seems like it wants to get “it” done this time.

Gla.