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Again evidence of continued “inside buying”(there have been literally 10s of millions of black trades over the last 18mths since company restructuring)…

And still it goes on!

As for the “entity” that purchased the 14m+ at the recent placing(5.25p), got a strong feeling they will be involved in the incoming FEED stage financing requirement(if indeed not the potential strategic partner/buyer).

Gla & monumental news fast approaches!

Mynytho-

Been reading back on your excellent post history, and couldn’t help but admire this post especially:

Hi

Glencore is not involved in the Iron Ore market, as a producer or significant trader. Given the consistent profits generated by this commodity for other majors, BHP, Rio Tinto, Vale and FMG why has Glencore made this strategic decision?

Got the reply -

Martin.Fewings@glencore.com

Tue 18/08/2020 11:54

Dear Sir

Thank you for your email.

We are involved in the iron ore market as a trader. We currently trade approximately 50 to 70 million tonnes of iron ore every year. We also own a number of iron ore projects in the Republic of Congo and Mauritania – which remain undeveloped.

The difficulty Glencore has in building/acquiring a material competitive iron ore business, is that the majority of the remaining iron ore resources in the world cannot compete with the scale and cost advantage that the Australian and Brazilian iron ore regions.

That said, we believe we have one of the best portfolio’s in the industry of future facing commodities – those needed to enable the world to decarbonise the global economy. Demand for these commodities (copper, cobalt, nickel, vanadium) will grow significantly in the coming years.

Rgds

Martin

I have in essence copied your previous email to glencore, in the hope of a response(not received as of yet), in the hope of being able to respond to any response I may get, asking if the recent costings update would not change their prospective. That they would still find it difficult to compete with scale/cost of their competitors?

Was hoping you may wish to also follow up, as you have the advantage of having previously received a response(although some time ago!).

Thanks in advance & ATB.

Ps also enjoyed the post about being in a empty room, waiting for the party to start!

MM- thanks for the insight, and seems very logical.

I personally am still not ruling out the possibility that Glencore do a U-turn and develop the asset(if it really is as great as we all believe, they’d be mad to give it up!?).

Ex- I’ve found Zioc to be at times extremely liquid, and at other times completely illiquid!

If you time your trades, I’ve personally been able to complete multiple 100k orders.

Gla.

Ex- The only comment I will make is, “surely the inside crowd have had long enough by now to accumulate!”

Gla.

Bear- reset your mind.

Since the companies reforming in late 2022, so much has happened. Ok it may not (as of yet)be reflected in the SP, but I honestly believe we are in a critical moment.

Many posters(smarter than I)have pointed out information to this extent, best now hold your frustrations for a few weeks, and let the share price take care of its self.

THE MARKET HAS GOT IT WRONG THIS TIME(famous last words!).

Gla.

Ex/AWS- my take is this has already happened, being glencore acquired zanaga for the sole purpose(as part of the cartel) to mothball the asset, thus allowing their fellow Aussies mates(cartel members) to over charge the Chinese for their rust, this last decade +.

They got away with it my holding significant leverage over Big Den/ROC through they monopoly of petroleum “trading right”(I believe at one point The ROC was heavy indebted to glencore?/perhaps still is?)

Luckily for us the reign of “Ivan the terrible” has passed, at the most opportune of moments, as the world clamours for “green steal”.

And the Chinese are desperate to clean up their CO2 emissions act, and will be adverse to importing anymore Aussie rust.

It is my opinion our asset will 100% get developed in this environment.

Our time is now.

Gla.

Will we ever see a return of value to shareholders…?

Gla.

Ex- one other risk associated- That now simandou seems near certain to being developed, is the “cartel effect”, that is not to allow over supply(further green field projects to get developed)(although I’m happy to be brought by a rival major, solely for the purposes of mothballing), thus applying price pressure on the iron ore markets.

Luckily (I hope!), for us is that we have two potential “non cartel” members “interested”(I hope!!)..CHINA & SAUDI ARABIA.

Gla.

Mynytho-good post.

I have to disagree with your take on “Such a pity Ivan made Glencore sit on this and do nothing when we had a decade of 0% money”.

Their/his differing has allowed me an opportunity to add significantly to my holdings, compared to what I owned during his reign!

Should be an interesting few weeks here, with Marty clearly stating “feed to commence 3rd quarter”!

Don’t lose sight of the prize, we are closer now, than ever before.

Gla & AIMO

Bear- watch in amazement over the next 8weeks, as we final move on from being a paper mine to developing/selling our gigantic asset

The company has done all the work necessary to now pull off one of the most meteoritic rises in AIMs history!

“Yet, these historical issues are less relevant to where the company stands today, on the brink of a significant value inflexion point, a reality that the market has largely overlooked”

There is always smoke, where there is fire”.

Gla.

MM- I still have full faith if the companies stated timelines.

Either the FEED stage commences(Strategic partner/or complete buyout/In).

I would expect all to be reviled by quarter's end(ATL).

I fear many are going to be caught “blindsided”/Sell to early.

Gla.

Jiv- also the largest potential gains come from being in “Disruptor” technologies/commodities(think AI/lithium in the past)

I believe “Green steel” is both, hence my confidence in my holding here.

As for price predictions, we should hopefully be better informed post end of this quarter.

Gla.

Ex- exactly.

The resource is still there, as is our value(having been protected largely from dilution).

Now the 28days have passed since the placing, we should gravitate back towards 8p(without any further updates).

The placing was largely done to facilitate the repayment of the loan, hence it should have been largely irrelevant to the previous market cap of circa £50m.

The only other issue providing a drag on the share price could potentially be the issue of the required funding of the FEED stage(£22m).

And this is the most important topic to discuss at present (IMO).

If we are to take what has been announced by the company (&marty), then they are progressing to a stage beyond reports/reviews/costings ect, to a development stage where we finally move beyond being a field, to a mine.

Although I have serious reservations about our capability to develop the asset ourselves, I am wholly in support of the boards decision to be proactive in climbing down from the “high shelf”(where we had no offers(of a dance), and instead walking onto the dance floor, to actively seek a (dance) partner.

This in theory proves “if we have no takers, then we will(begin) to go it alone.

This in turn will hopefully be where our suitor(s) “Blink”..and make us(Ephlick), an offer we can’t refuse.

If no one comes forward, then I’m in full support of the board in progressing to FEED ourselves.

I suggest all not lose sight of the endgame, we are still closer today(with a highly irritating share price, than we have ever been).

Gla, I’m sure all will become clear towards this quarters end).

Https://energycapitalpower.com/glencore-drcs-marie-chantal-kaninda-to-highlight-esg-investment-strategy-at-cma/

Ex- thanks for this, a lot of effort on your part & an excellent piece of research.

I broadly agree with your findings, save for I hold the opinion that the recent block was most likely purchased by the incoming strategic partner(FEED financier), probably at a low entry to a larger (£22m) funding package(involving equity) at a significantly higher price(than the 5.25p) recently paid. This giving them a better average “buy in price”.

Of course I still hold out hope that a complete buyout prevails….

Gla.

AWS- Still no reply!

The wait goes on..

Gla.

I have emailed the company inquiring to the identity of

The 14,380,953 shares at a price of 5.25 pence per share.

As detailed in the recent RNS.

May I suggest there follow suit?

Gla.

Ex-Well that’s tranche 3&1 complete!!

I’m in agreement with Nibj on the other board,

“Rather have placement done at a 20% discount than drip fed over a prolonged period of time(weighing the share price down).

We should get back to the 7-8p trading range before weeks end.

Overall strange feeling, down on the day, but feeling more positive than ever!

Gla.

Jiv- waiting on EOD to answer that question..let’s see how many black/late trades get reported.

Ps good call on the “running on fumes”.

Gla.

The stars really must be aligned..me & s86 are in complete agreement!!

Gla.