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The deal is on :
On the morning of October 25, the signing ceremony for the Hunan Energy International Cooperation Industry Alliance and the China-Africa Mining Group (CCCM) Metallurgical Iron Ore Project was held at the China Construction Fifth Engineering Bureau. Ding Chunming, Chairman of the Board of Directors of China-Africa Mining Group, Zeng Guiyang, Chairman of the Alliance, representatives of China Construction Fifth Engineering Bureau, Central South Survey Institute, Hunan Electric Power Design Institute, Eighth Hydropower Engineering Bureau, Hunan Thermal Power, Hunan Provincial Survey and Design Institute and the Alliance attended the meeting.
At the meeting, each participating company introduced the company's situation in detail, and Chairman Ding of China-Africa Mining Group introduced the specific situation of the project. The Hunan Provincial Energy International Cooperation Industry Alliance and the China-Africa Mining Group (CCCM) Steel Ore Project have exchanged a cooperation framework agreement. The two parties will plan resource development, railway construction, port construction, and other civil engineering and facility construction in the Congo-Brazzaville iron ore project. comprehensive cooperation in other aspects.
Director Zeng said that the Congo-Brazzaville iron ore project is a century-old project in Hunan and is located in a high location. The enterprises in the Provincial Energy International Cooperation Industry Alliance have strong strength and rich experience in overseas projects. They can implement difficult projects in various fields such as energy and construction. The alliance will speed up the implementation of cooperation agreements, accelerate the dispatch of professional teams for on-site investigations, and formulate specific implementation plans and advancement speeds. .
Ex- I’ve got a few friends out in china/HK.
I’ve asked them to help translate/find a link to the word CLOTH, in the article.
So far heard back that Cloth is also used to describe the Silk Road project, in sense that cloth is a broad term of a commodity. Cloth=made of silk.
A cloth is also used as a meaning of raping together/joining. “Bo”= “Bao-ju”
I personally feel CLOTH is an acronym…I just don’t know what for!
The research is ongoing..will keep you/board updated.
Gla.
Ex-Onr of the black trades was my buy, I think some brokers delay the trade due to liquidity issues, and subsequently the trade get’s reported as black…I wouldn’t read too much into it.
The 3m when exercised at 7.5p will have to be RNS’d by my understanding.
Do you have any thoughts on ATs potential remuneration, as it doesn’t seem to have been announced(and I assume he is owned a fair fee years wages?
Hard to believe we are still down here, now that we have never been closer to realising value here, a little more patience..
Our window of opportunity is fast closing.
Due updates on our reduced capex costings, Glencore loan, and AGM date/agenda, and hopefully project finance/buyout news…all before end of quarter!
The hoard will be trying to get in here(again) soon.
Added again today.
Gla.
I hear you bear, but honestly we do have a timeline of upcoming events(something we haven’t really had before).
The outcomes of these events at the minimum make our “binary bet” better odds of romping home this year, than the Grand National 2035!!
Honestly believe all has already been concluded behind the scenes, and will be revealed before years end.
Gl to a bear&all.
Ex- honestly do people like S86 not get ta ye???
They like offer nothing, whilst accusing people who have been in this story for a “fair while”. People who are trying to assess their investing decisions with “reason”&””research”, instead of ramp..ramp..ramp, then sell @ the bottom anyway!
Oh well I suppose we should be thanking them really, after all it is their money we will be taking a slice of in the END.
On that note, I for one am grateful for your input.
S86..you have the privilege of being the first I have ever filtered on this board.
Gla(even S86).
Ex-(sorry my reply was meant to be addressed to you earlier).
I think WAR in the Middle East, and the world in general will always affect the Iron ore market(and the strategic security of the resource).
Mitch- I know this has been a trying 10+ years here, but I honestly believe this is the final “short window” to stack these golden tickets, as you point out “it’s all in the recent RNS’s..
We are most certainly in the “end game”
Gla.
vet-
SELLS/BUYS are never disclosed as the London stock exchange (LSE) deems this as confidential.
BUT sites like ours that receive an LSE feed compute each trade as a buy or sell from the BID/ASK values.
Hope this helps....
THAT IS WHY THE TRADES ARE OFTEN WRONG
Sometimes if you put in a buy/sell order, if/when it gets filled it happens some time after the order being placed, therefore is reported as neither(black).
Probably shard placing shares would be my guest.
On a side note at least volume is better than yesterday.
Gla.
Mitch/Ex,
As ever I bow down to your wisdom.
I can see the statement of MOU as being slightly opaque, now you point it out.
Still think we are closer than we have ever been to realising value here..hopefully the market starts to agree with me/us.
KTF all.(keep the faith)
All this “who’s going to be the facilitator?” Talk is rather pointless IMO.
As stated we have multiple MOUs in place, therefore we already have AIP(agreements in principle) with interested parties.
“A memorandum of understanding, or MOU, is a nonbinding agreement that states each party's intentions to take action, conduct a business transaction, or form a new partnership. This type of agreement may also be referred to as a letter of intent (LOI) or memorandum of agreement (MOA).”
Next week should be massive here, as has been pointed out, there really is no reason why we should be down here!
Gla..not that we actually need it anymore.
Ex-you got it!
Just trying to figure out a total amount of shares that will be in issue, when(not if anymore) the offer comes in.
The Glen loan is the only variable left, as I see it?
Alternatively I suppose it could be settled from the proceeds of the sale(but that would seem MIGHTY generous of Glen to me, knowing the final price will be a BIG price!)
Gla..
Eddsy-no tricks mate, I’m fully loaded, simply trying to understand
1- how the hell the price is 8.35p!
2-how our pie is going to get shared out.
Ex-Nothing 4 Nothing. More pie to Glencore, is in Glencores interest, especially if the pie becomes worth billions(which is a certainty IMO).
Reference: Zioc=pie.
Gla.
I believe(IMO) the price is being held down here(and I’m certain it is being held)until the outstanding issue of the loan(+interest)from glencore is resolved.
The price was recently conveniently suppressed until the board had “resolved” the outstanding wages issue, as it was getting away from them( if they had issued @ 18p without taking a haircut (68%), it would have been the same result as issuing @ 5.29p with the haircut…funny that!!
Anyhow I stand by my previous comment that it was still an unbelievably honest action not to have issued their full remuneration @ 5p odd(as they were well within their rights to have done so).
IMO glencore will want their holding bumped back up to the 48.26% that they agreed to when the share reorganisation took place, late last year. They will achieve this by having the loan+interest(£1.65m approx) settled through the issuance of new shares(29m approx (ROUGH calculation))
Therefore I expect the share price will be held at around 7p until this is concluded.
Definitely not a de-ramp, as I expect the share price to achieve “mad price!” Once “set free”after this piece of the jigsaw is put into place.
To set the record straight I am very grateful to glencore to have made this loan to us, as at the time we were desperately short of cash, and at sub 2p! I dread to think what level of dilution would have occurred if we went to the market seeking $1.8m!!!(although the pain would have been suffered equally(+1) by glencore, if this had played out!, (so I suppose it was in their interests)
All only my opinion, happy as always to hear alternative opinions(politely please).
Gla.
I’m remembering why I stopped posting(again),
Please can we try to be nice & get along?
We all want the same thing, Ex is definitely not a deramper, by any measurement!
We have had 2 exceptional RNS in a row, will the third one be a real treat?
Gla.
This is absolutely brilliant!! The directors have taken a massive haircut and issued a mere 27m new shares!this, I was terrified they would issues 100s of millions…this is excellent!
Unbelievably honest behaviour by our board..