Member Info for Driving

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.

Eddsy- i have been selling down my Gemd position (now at zero), for sometime continuing to add here.

If you think I would’ve sold Zioc shares at a poxy 7-8p(range for last months), then I can see why you would get along with the nutjob from next door so well!

Come on man, trade this and risk missing out on what we all hope will be the defining RNS..that could potentially drop at any minute, without any warning, and for what a few hundred quid!

Try and think coherently man.

I’m about as uber bullish here, as any sane man can be.

Gla.

With moderate losses.

Good luck to all on here, and sincerely hope it carries on up for you all.

ATB.

182,784.

Regardless of what the schizophrenic suffering from paranoid delusion says from next door.

Gla(even him).

S86,jiving,eddsy,M71,Nibj,ex,v10,ATG,99IC,SD67,bear, Always,Mer ,et all(sorry if I’ve forgotten your alias)

I enjoy all of your opinions on this board.

Please can we remain on neutral to good terms while we await our long deserved reward.

Gla.(Will be taking a brake from posting, until mood lightens up a little!).

S86- no nda here(can’t speak for Nibj), just nothing very interesting in the response from my 8th April email(also posted on this forum).

Only that Marty had commented on the recent update, and would be providing further updates going forward.

Gla.

Nibj-

Stick, twist, fold.

IYO?

Nb- The company also FINALLY responded to a email I sent!!(must be something in the air).

Gla.

Got an absolute sh*t ton of these..and all of a sudden I’m nearly up on them..boy when the market moves..it moves.

Gla.

Thanks for these Vet.

Well it sure seems like “squeaky bum time”

We rather we have a partner willing to fund the £22m for the FEED stage(front end engineering development), or the board will need to blitz the PR, so as to ramp up the share price for a equity raise/rights issue.

Otherwise we will remain stuck on chapter 1, the same chapter that we have been stuck on for the last 13+ years!!.

Now don’t get me wrong, I think the market is hot for this novel, and if we don’t have anybody to “put up”, then I’m all for a raise, if that’s what it takes to “Release shareholder value”.

Bring on chapter two..

Gla.

Finally..long may it continue.

Gla.

Although I’m sure Mr E doesn’t need me to defend his actions…

Realistically what the hell more can he actually do?

Think of it as “build it, and they shall come”, well the 2014 FS was well out of date(and nobody came anyway), so he’s trying “rebuild it, and they shall come” in a very pro “green steel” moment.

There was never a chance of us being able to develop the mine ourselves, so we have only ever had 2 options-

1) buyout

2) buyin

Neither option is directly in his hands to achieve.

He can only market us to the best of his abilities, which I believe he has done, by the restructuring & the re-costings exercise.

This whole process was never done with the consideration of the share price(and by extension us PI’s)(and of course the company doesn’t directly benefit from PI’s trading shares on the open market)(unless the company’s aim is to raise money through equity(impossible for a company with £50m MC to raise the billion odd needed anyway), it was aimed directly at investors/partnersf to do one of the two options listed above.

My belief is the company went through this whole process at the behest of a new investor/partner(s)

Guess we will shorty find out..

Gla.

In all honesty today’s updated costings doesn’t materially change anything from a share price perspective.

They were largely front run, and expected.

I can only hope(assume) they were a component that was wanted/required by potential suitors.

The question we need to know the answer too/asking is “ what is also needed prior to a deal being done?

Will the FEED need to be carried out by us(and thus paid for through issuing equity/loan), or can a partner/investor be brought in at this stage?

Will it end with us carrying out the FEED work, or will we need to proceed to development before it is de-risked enough for any potential suitor?

We hopefully will be getting answers to these questions soon(now the re-costings have been completed).

It is in my opinion that answers to these questions is what the market want, and will continue to call our bluff until they are received.

Gla.

So how do we go from 8p to £xx?

We definitely won’t be able to fund development from a £50m market cap.

We surely have to sell, only problem with that is Glencore, and that they hold 100% of the offtake rights.

Complicated situation we find ourselves in.

Either Glencore take the project on themselves, or give up the offtake.

Short term we need to find £22m to fund the next stage(FEED), even that would be hard to do in these markets, again considering our current market cap(the market is pretty brutal right now)!

Perhaps Glencore loan the £22m, as it further increases the project value, and further entices potential buyers.

Seems all roads again lead to Glencore!…Please release us from your shackles.

We are literally holding large diamonds valuing over our present market cap, something has got to give?!?

Gla.

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.

Stage1-Net updated value-

$3,681bn= $ 5.70 per share.

Stage2-Net updated value- $7,357bn= $11.40 per share.

The figures are much more detailed in the report, and are absolutely staggering..

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"

Please can we resume trading!!

Just get a deal signed, for heavens sake!!

Jiv- I am a current shareholder, my interests(should) trump future “potential” shareholders.

I agree with you that the delay until the last day in April(unless we get a RNS today), maybe due to “other” behind the scenes activities, but I still, as a loyal shareholder “EXPECT” to be updated before end of play tomorrow.

Even if that is to be an update, that they cannot provide the updated costings.

I also note that since the restructuring of the company in late 2022, the board has been adhering to informing shareholders of developments quite stringently.

Gla.