Member Info for Dustfilter

I couldn't agree more Extrader and thank you for conveying this eloquently and with detail

It's interesting that a week after you posted this, nobody has stepped-up to offer any counter to the quite damning points which you make about the actions and inactions of the company. I was looking forward to hearing from some of the cheerleaders here and learning their thoughts and counter-arguments. Alas, a week on and not a peep.

The SP hitting 5.2p suggests more folks have had enough.

Yes, it's a bloodbath in most sectors Manlord. EEE has (so far) respected the long term support level between 28p and 30p and, as you say has done better than most.

Energy (oil and gas) and more recently food (wheat, grains, etc) are the main beneficiaries that I've switched to. I anticipated that Brent (Europe) would out-perform WTI (Americas) and this has indeed been the case. Norwegian oil and gas stocks were my choice and they've done very well.

IMHO there's plenty more Gulf-related brown stuff to hit the fan and downside risk before things get better. FTSE100 is looking very wobbly at 10,000. Index short ETF's are available of course and holding cash is also an option. DYOR, YMMV, etc.

Dear Admin

Thank you for banning Dustyslay from the EEE (and MATD?) messageboards.

Please take similar action against his disruptive and abusive posting on the ZIOC messageboard where he has followed me for the sole purpose of defamation against me. He appears to be holding me responsible for his ban from EEE.

Sadly there are people with nothing better to do with their lives than attack strangers on the internet. I hope you will agree he should not be permitted to polute and spoil LSE's messageboards for your other customers

Thanks again for banning him from EEE earlier today. It will be a far better place now. Please do the same for the ZIOC board.

Dustyslay is stalking me on the ZIOC messageboard. He seems truly obsessed by a few strangers on the internet

It's as if these messageboards are the only thing he has in his life.

He should apologise to his wife and kids and tell them how hehas preferred to spend his day for the past 2+ years. Pathetic.

Beardozer, sorry to hear you paid so much for a chimney sweep.

Years ago I knew a guy with a very attractive girlfiend. At the time I thought I was mowing her lawn but, in hindsight and thanks to you, I realise that I was actually sweeping her chimney :-)

(Yes he did find out and yes it was highly problematic!)

Well done ML and everyone else who helped scrape the skidmark from this board. That's probably 20 fewer green boxes clogging up my life every day.

GLA

Hi Marcus

If the bidder's primary objective was to buy a company more than 6 months old with "a proven performance or governance framework." then I would agree with you.

Can we discuss in terms of iron ore anyone?

Thanks

Forgive me if this has been asked before but...

If it is the case that the EGM has been delayed to allow bidder(s) to do due diligence (as seems quite plausible) then why would they buy into ZIOC PLC rather than buy-in to RAM?

ZIOC has 1000's of shareholders to persuade versus a handful of shareholders at RAM. Would it not be easier and quicker for them to buy-in to RAM? It would certainly be highly advantageous for the shareholders of RAM to cut-out ZIOC and speak directly to the bidder. Why would the bidder cut us in to the deal? The AIM-listed PLC is probably of no use to them.

If I was Big-Balls-Of-Steel Inc I think I'd be talking direct with RAM, cut a deal with them before the EGM and take my 7/8 of the Zanaga asset on the cheap.

Do we even have a full list of shareholders at RAM? I think not. Do we know if any directors of ZIOC also have a share of RAM? This still seems unacceptably murky to me.

Miller, if the offtake is worth 'SFA' then why was it the subject of negotiation? Clearly it is considered of great value to GIS who insisted on taking 20%. SFA? Really? That claim is barely worth responding to.

I am convinced that $25m could be raised in a manner which didn't involve a commitment to lose 7/8 of the company.

I'd say the management should have done a lot better than this deal.

How's everyone enjoying 6p/share on this great deal?

Raf, do you regard this deal as your ticket to the £4.20/share which you predicted?

Would anything less than a 70x gain be a disappointment?

Mr Market still says the deal sucks despite this morning's turd-polishing exercise.

Stas, if you'd been around here for a while and were paying attention you'd know that direct communications between PI's and ZIOC management is very much a 1-way process. This has been the case for years.

3 weeks ago I emailed a contact at Shard who I know almost as a friend. I expressed disappointment at the deal and expected at least a friendly reply. I am still waiting. Either my contact at Shard is utterly embarrassed by this rotten deal or he's been told to not say anything.

When did you get religion about ZIOC management? It sounds like you've been tasked to put-down dissenters. You're very much like the cheerleaders we had here before the RAM-raid.

Sushi, it's NOT the same as a free carry. If capex costs increase then ZIOC gets less than 12.5%. It also assumes zero PLC costs up to production.

This is NOT a free carry even though it was mentioned as such in the presentation.

Entities will "only invest at the asset level"

So there it is from Marty's mouth

Anyone hoping for a major to buy-in at ZIOC level is dreaming.

He's been reading this messageboard I reckon

Guys, just filter the clowns and you'll cut off the oxygen of attention that they crave. You'll help by not then clogging up the board with garbage. Thanks.

PS Trevor, I dated your niece! :-)

My approach is to put myself in the shoes of Sir Mick et al at the newly-formed shellco RAM.

It's a safe assumption that these guys are better informed than us about overtures from would-be suitors for the Zanaga asset. Would these guys be committing tens of millions of their own cash if they didn't believe there would be a grand monetization event coming? Of course they wouldn't!!! How do people think they got so rich????

The bulk of the work has been done at Zanaga (we paid for it) and now a bunch of super-rich want to take 7/8's for themselves and pay us peanuts for it.

They know what they're doing. Of course they've been speaking with potential investors and IMO they probably have a major investor lined-up. They're not telling us the full story. The project is worth billions and they want it for themselves whilst throwing mere scraps to the PI dweebs such as us.

It's been suggested that a major will be able to force a takeover by acquiring enough ZIOC shares in the open market before the EGM. I would be very interested to learn how. How realistic is this? Who's going to sell them so many shares? I'm listening...

I say this is a gross injustice and a rug pull. Don't go down without a fight. Thanks for your efforts extrader and others. Let me know if I can assist.

Maverick, the '7 buys' which you refer to crashed the SP from 6.3p to 5.9p. Ordinarily one would conclude that these were nailed-on sells - unless you have some priveleged information to the contrary?

PS your months of baseless pumping hasn't done you any good at Pantheon Resources either

Pumper alert.

Isn't the question here one of conflict of interest?

I understand that AT is not a Director but I recall that in the (UK) Companies Act 2006 there was something about Directors should seek to avoid conflicts of interest. BVI rules may differ.

So AT has being directed by the ZIOC BoD to partially jump ship and work for the other guys as well. Should he still be representing ZIOC in any official capacity such as at Investor Meet Company? It's messy at best.

Anyone remember Gulf Iron and Steel? A year ago this mysterious and opaque outfit was given 20% of Zanaga's offtake.

What did Zanaga shareholders get in return for this transfer of a highly valuable asset?

What was the calculated value of this asset for purposes of the negotiations between the ZIOC directors and GIS?

Who benefitted as a counterparty in this deal?

Who are the players behind GIS? Are any of them also connected with ZIOC in other ways?

Any ideas anyone? ZanaRAM?

I never liked the smell of this deal at the time but I naively overlooked it trusting that it was a necessary sweetener to lubricate the cogs for the big end-game. In hindsight this was a plain-sight red flag and I should have run a mile.

What thoughts do others have about the mysterious GIS?

Expertly conveyed as always, thank you Extrader

ZanaRAM, your posting history is there for all to see. and I see I'm not alone in wondering who you really are.

You do sound as if you've been parachuted-in and tasked with sprinkling sugar on this turd of a deal.

What is your motivation? Are you connected with Zanaga and/or RAM?