Member Info for Driving

haven’t posted for a while(decided to let things settle before jumping to any conclusions).

i’m in a similar stance to vet.

the board have “cried wolf” one to many times..

also the key element is(and has always been) funding development(they phrase it as an investment decision)due later this year..

but last years **** take of a raise(to pay back glencore loan) at 5.25p was a disgrace.

followed by the recent £8m raise(beyond the £14.5m glen buyout)..was an utter sham..proper “pigs in the trough” ****e!!

so my guess is “the market” is expecting “a right old gouging” is gonna take place to get this developed (at our expense)!

"the definition of insanity is doing the same thing over and over again and expecting different results"

that this is not going up on the good news(directly naming us)..then something is seriously wrong..

i literally feel like i’m living in an alternate universe..how the hell are we priced in the 6s when our board are proclaiming we are “so close” to becoming one of the largest mine developments on earth!..

(it’s called”…the “funding aspect, of course..and the “pound of (our) flesh” that will have to be extracted).

the longer it is kept at these suppressed prices, ultimately the higher the cost to us.

maybe we will be pleasantly surprised..but the share price definitely needs to get its skates on..

please note i am not selling(i have in fact added a few more this morning).

but although i believe we will make money here, with every day that passes(with us trading less than 0.1% of current nav)(and that’s before the expected £6bn increase being added by the ongoing work streams!)..my expected buyout price decreases.

gla.

Top upped.

Gla.

Coincidence, or not, it was an obvious punt here.

We are heading into into the fortnight countdown, towards the company’s biggest development progression since the reforming in late 2022.

I still stand by my claim that we will see 10 year highs made here before the 18th(an objective not to be scoffed at).

Where the SP heads from there will depend on the SI announcement.

I personally feel the pounds are achievable, but it will be a process achieved “post FEED”.

As for the delayed investor meeting, I place this squarely down to the SP’s lack of a positive reaction to the Port & electric announcement(the former as AT stated is the greatest milestone achieved here in a decade+.

The SI although will obviously have to multiples of todays SP, will need to justify the decision to do so, this will be made easier if our SP is rising’s rapidly and at a higher level on any SI funding FEED.

I also believe the funding of FEED will give a “first” option to the incoming SI, of a buy in/out at close to NAV, probably excisable in 12mths or so(post completion of the FEED stage=results. The SP will undoubtedly rerate on announcement of FEED being funded, whether this is through optional “first call” financing, or a more conventional private placing to the incoming SI.

Whatever is gonna happen here, will happen..and that is all that matters..finally progress, towards developing our Tier 1 asset.

Exciting times&Gla.

M71- good timing on your top up.

Seems more likely than not, we will get a update(s) next week(it will be a fortnight next Tuesday until meeting), and we were promised updates Prior to event.

Seems momentum is building nicely, long may it continue!

Gla.

Thanks for this MM,

Well now we know what Mondays 3m+ volume was all about..investec clients were given this info on Monday, ahead of public release today…

On a side note, I first heard of(and subsequently invested into Zioc after reading a investec note back in 2013!!)..just goes to show their potential reach!

The 🐈 is out of the 💼..

Gla.

Today, keep us off the traders radars!

Hopefully goodbyes to the 7’s & 8’s?

Gla.

TDB- agree the trades themselves are irrelevant, but taken as a whole volume of over 3m, on a monday(without any RNS), after a previous week of 500k odd a day volume, is significant.

If this level of volume can be maintained, then expect double digits imminently!

As we all (LTH) know, this share doesn’t have the largest free float..

I personally am expecting new 10 year highs(currently 25.3p), in the build upto the 18th March(investor meeting).

Gla.

4 weeks and counting until “judgement day”!

Let’s hope volume continues to build towards the big day.

On a side note the last 2 reported trades look like shard IMO..

Gla.

Mitch- excellent summary.

May I add that I am personally grateful to Glencore for their involvement, as it has allowed me to build my position substantially, whilst protecting my investment from unnecessary dilution.

I have some inkling that Glen are minded to get zanaga developed(at long last), so as to monetise their offtake/marketing rights.

I think HZM was a lesson learnt to them, that all due diligence MUST be done prior to funding(an excellent example of what happens when you underestimate development costs).

Seems we will not be making the same mistakes, hence the justified “delays” to make sure all the boxes are ticked.

I get where you’re coming from(13 years is a hell of a wait), but we are merely riding on “their” coattails. The timing(of development) always was, and always will be “their” call…

It is increasingly looking like the time is at long last, fast approaching.

Gla.

I think your previous post summarises perfectly 100%.

The issue of us transitioning from a Tier 1 asset, to a Tier mine will be the infection point for the share price.

We await to hear of confirmation of funding, 4 weeks Max to go(I think will get some further news this week).

Gla.

Smuff- of course that is how you get everybody on the wrong side of the trade…complacency!

There is only ONE reason why we have not been developed since IPO= Glencore…but we can take heart that they, better than anyone know our true value.

It was always about timing(and in turn glencores timescale). Don’t know if you noticed but the worlds iron ore market is going through its most turbulent transition in a century..all paths lead to Green steal, which means Zanaga development.

Gla.

That your 150k Nibj(greedy!), I had to settle for 26k today.

There is absolutely no way we ain’t getting developed in this environment.

Gla.

Excellent post- very thought provoking.

I guess that’s why we are all here.

Gla.

Been thinking out loud(dangerous past-time)..

Perhaps the original investor meeting was never meant to take place, in that the board were assuming the buyout/in to occur prior to todays date.

It would tie in with the rushed RNS(with spelling mistakes to boot..Zanga!!.(IMWTF!), and no pre announcement on venue/time.

The million dollar question of course is what went wrong(maybe right, if applying a little(more) patience!)?

Gla.

If we could get an article in a similar vain to the thisismoney article of last year!..the board surely wouldn’t be able to “speed ticket” us, when all that was stated in the article is “live”…oh please, oh please can the press latch on to how ridiculously undervalued we are!

Would certainly help with “the pump”..

Gla.

https://www.thisismoney.co.uk/money/markets/article-13563755/SMALL-CAP-IDEA-Zanaga-Iron-Ore-48m-company-multi-billion-pound-asset.html?ico=mol_desktop_moneymarkets-newtab&molReferrerUrl=https%3A%2F%2Fwww.dailymail.co.uk%2Fmoney%2Fmarkets%2Findex.html

ATG-Definitely not stuffed!..just take your estimates on NAV factor in a MAX 40% dilution(pending what price is needed to raise 22m) to fund FEED(doesn’t really matter what price FEED is funded at!)..that is the price the buyout will occur at(POST FEED)..DELAYED yes, STUfFED no..

Marty sort of said as much in his infamous podcast.

Gla.

Ps still think we make 10 year highs in next 5 weeks!!

MAJ-

I absolutely do not believe it will be done at a discount, actually quite the opposite!

It is my belief the incoming strategic will fund the FEED at a price that is acceptable to Elphlick/Glen(board), this will definitely not be at 8p(hence the need to delay the previous Investor meeting)(and prime the market with EVEN more good news)(and prey it takes note!!).

The funding of the FEED will provide the strategic “first option” of a subsequent buyout(if FEED runs smoothly & to their liking)..this will be based upon NAV.

If the board has no acceptable offers to fund FEED(or indeed a timely buyout), then look to Glencore/board as per them previously funding the updated feasibility study.

I think there are many that underestimate Glencore, and how highly they value this asset(and rightly so!..it’s a tier 1 asset FFS!).

They ain’t gonna give it away..quite the opposite!(this is more than JIMO!).

Fut- I Hope you understand I agree with with you 100%, we just need to get the FEED started(then the whole world of mining will begin to finally take notice!).

Gla

Just for clarity, I absolutely believe the board are acting in our best interests, by trying to raise at a higher price.

I believe this is where the strategic partner will enter the fray, by fully underwriting the 22m.

The buyout will happen close to, if not on completion of the FEED stage..and obviously at a much higher price(£’ss).

Gla.

-Continued(sorry I sent before finishing!).

The board were hoping that the share price would have responded recently, after so many positive developments(port, electric, ect) but it didn’t achieve a price that the board could stomach, as to raise the necessary 22m.

Hence the board will now use this extra 5 weeks to shore up the share price, and if unable may look to source other funding.

Just my take, but please don’t accuse me of being a de-ramper(I hold 1% of company!).

I actually believe that the FEED stage commencement is the all important catalyst to a share price in the pounds..

But this final step(raise/funding)maybe the last such dilution.

Gla

Vet- although I’m sure this thesis won’t be popular(and yet I am more bullish than any shareholder out there),

I do believe the postponement((rescheduling) of the investor meeting is linked solely down to the issue of financing the FEED stage.

The company needs to raise/find 22m, and I believe this will be found through a issue of equity