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Bear- as you have always pointed out…Zioc is a binary bet! Therefore it has always been the case that we would/wouldn't get developed, not a case of 13 years wasted.

We are now in a new format since March, that as others have pointed out, will lead to our development.

The time is NOW, we are definitely in the end game..nothing binary about it.

Gla.

So we should get a bumper announcement along side the interims!!

As for price being pinned, it always is, until it isn’t…thinking a breakout is imminent.

JMO & Gla.

I had pencilled in this fortnight as potentially a period of expected “big news”, prior to the interim results(Tuesday 30th)..

Multiple outstanding updates due from the previous quarter, along with hopefully some update on how our “investment decision” news is going(due before end of September)..

Got everything crossed, our board sure likes “cliffhangers”!

Gla.

I didn’t mean for my post to come across negatively.

I’ve been saying for an awful long time now that we are coming to “a head”.

September seems to be our make or break month.

Either the market acknowledges all the boards endeavours, and believes that we have a “clear plan” to development, and subsequently re-rates the share price accordingly(enabling us to begin being able to raise capital to develop the mine).

Or it continues to “call bluff”, resulting in the board needing to access alternative funding methods.

Thanks all for the insights,.(what a BB is meant for).

Gla.

I am convinced that we will go down the development route in the next 6-9mths, and a consequence of this is we will not be a trading on AIM(our market cap is too small (£60m) to raise significant capital against).

Therefore our window is coming to a close on AIM.

The question outstanding is what will the share price be, when it shuts?

One things for sure, it needs to be getting its skates on.

Having invested in AIM for over 20 years, there are two ways I see this playing out.

1 is for the company to secure 75% of the voting rights(shares), and then to make a offer for the outstanding shares normally in the region of a 20% premium to the previous 30day average share price.

2 Is to announce to the market that the board believes in light of being unable to raise adequate capital to further the project, intends to delist (and make no offer to existing shareholders, other than we can choose to sell into the market (normally 30days) before cease of trading on AIM, or continue to hold, in a company that is no longer trading on the LSE(and will be a lot less liquid).

I personally believe the second option is more likely, as they will be acting in the majority of shareholders interest, in getting this mine developed(perhaps not in the interests on PI’s who wish to be able to trade before the mine development(3-5 years)(easily).

I personally would accept leaving AIM and continue holding(perhaps in the form of paper certificates), as AIM has/is obviously failing our ambitions of development(£60m market cap, on a project with a NAV of near £10bn!).

Sometimes the second option can be the better option, but requires tremendous “Faith”in the board(with even less updates to investors(if that is possible!), and a hell of a lot of patience.

Delisting from AIM would also benefit “strong hands” in acquiring further shares, as the PI’s(weak hands) panic dump.

That said I could envision a scenario where the share price spiked towards the cut off date on trading on AIM, as a realisation dawns that one would be able to buy shares for 0.5% of a company’s value, and it was now heading(by leaving AIM), to unlocking that value.

Just my “two bob”, but make no mistake a “change” is coming here, we simply cannot continue to be valued at less than half a percent of NAV, especially as we are finally heading towards development, if we are to believe in the “noises” coming from our management(which I do).

Gla.

Ex- I have.

Since 26/3/25(completion of new shares issued).

A little over 51m shares have been black.

HTH

Gla.

Just as a side note,

I can get 7.72 for 1m/7.66 for 2m.

There is definitely demand for stock, not really surprising given we are in the “investment decision “ timeframe…

Just a little more patience needed here

Gla.

Ps - please can we put the “motives of the new directors” to rest. They are clearly minded to make as much money out of their investment in Zanaga, same as us.

OUR INTERESTS ARE ALIGNED.

Gla.

And so it continues (another 1m buy reported from yesterday).

As “their “ Attempts to acquire as much of the company at the crazy”today’s” prices, before a massive offer arrives…

And it’s working, and meanwhile they(the board) keep the market “primed” through missed targets, and nonsensical RNS/twitter posts.!..

And this keeps the share price down as punters throw in the towel, ever feeding their insatiable appetite!

Thanks MM for the positive perspective, and although it’s only speculation it gives a flavour of why we’re in it(some deeper than others)..

The potential is definitely there, and sure seems like all the stars are aligned, not forgetting that time is definitely at a premium..

Come on get a deal done.

Gla.

Offtake-“AVAILABLE TO BE MONETISED.“, I would interpret as to raise funds for development through ceding offtake.

Think off~take financing, as opposed to needing to raise capital through issuing equity.

JMO

Gla.

Volume now over 6m…this could be the start of the long awaited move…

Gla.

Surely if they were chasing volume they would ring those with large holdings, as a first port of call!?..

Anyway I wouldn’t take it personally, as no one ever calls me anyhow!

Well at least we now know where the liquidity on the “sell side” has been coming from!

Such a shame when a LTH(believer) “throws in the towel”.

Guess that’s the way of things..the weak sell to the strong. Unfortunately for those giving up, sure seems like the worst possible time to do so, especially if one had held on through all the previous “false dawns”.

Gla.

Looks like whoever is behind all these “black trades” ain’t letting up..bodes well for ya here, just a little more patience!

IMO

Gl all.

Ex-Thanks for this.

Well this news is more substantial than the usual “vague” sh*t!

Maybe explains today’s buying action, and it might continue to be sustained?

After all the only reason we ain’t been developed, is that the RO Congo is deemed “un-investable. This may be a beginning of a change of that long held belief.

Ps-wasn’t me adding.

Gla.

Ex- ONLY IN MY OPINION…

If I was looking to accumulate a large quantity “off book”, then I would put in a buy order to the market makers stating “ I’ll take any surplus sells, at the closing price (daily/welly)”.

I would then short the price down(or if I was part of the “inside group”(with knowledge that the news feed was to be delayed), sit back whilst LTH slowly throw in the towel(and feed my buy orders).

Put another way, if the share price spikes up, it becomes near impossible to accumulate any significant quantity(as the hoard arrives)(it is surprising how many AIM punters, keep a eye on Zioc!), where as if the price grinds lower, those with knowledge & patience are able to accumulate “over time” a significant amount.

This in my opinion, is what’s happening here, and if half of what the the board are telling us is true, would seem likely.

Of a cautionary note, time is against us in achieving some posters “target price”. I’m more in the camp that the broker’s subsequent valuation (lost the updated NAV), will be achieved (MAX £1).

Gl Matey & keep well.

Excellent summary Ex(and thank you for taking the time to provide “the breakdown”).

The items listed outstanding from last qtr, are integral to the updated NAV workings, which in turn are vital for a final “investment decision(PPS)”, on the final buyin/out.

It’s all coming together, and although frustrating, we are definitely in the “End game”.

3-6mths, one way or the other!

GLA.

We’ve got 3-6 months before we reach the conclusion of a very long path.

Either the board have achieved their goal, and de-risked the project enough that a strategic invests the necessary funds to develop the project, or present a takeover to all shareholders. Or the board haven’t been able to mitigate the risks adequately in which case I personally believe that there is nothing more the board can do to perhaps ever get this project off the ground.

I rest easy with the assurance that some of the industry’s smartest minds, with proven track records beyond any doubt, have recently injected their own money into getting us to a positive “investment decision”.

Gla(on that note I have further added today).

Vet- would seem probable, would expect the buy side to reflect this as we enter the end of zioc’s time on AIM fast approaching.

That the company is adhering to timeframes, I give it 6 months max before buy out/in.

Gla.

Seems we are fast running out of steam..really need that news to drop..!

Come on board, just for once deliver what you’ve promised.

Gla.