RE: AGM RNS28 Nov 2023 11:02
Hi Jiving,
If it IS Saudi that's sniffing around ZIOC, then (given the alleged antipathy between them and the Emirates), they'd certainly prefer the FMF, which - as the name suggests- is very much more 'bang for the buck'.
Strategic Partners include Foulath (Bahrain Steel) and Vale;
Platinum Partners include 2 x local steelco's;
The Chairs/CEO's of Anglo, Ivanhoe, RioTinto and Vale are all speakers.
We already know that AT and Gary X will be there.
Also there will be Julian Treger, Pres and CEO of CoTec Holdings, which MIGHT be relevant :
CoTec has a 3.1% shareholding in Binding Solutions Limited (BSL) the Company that ZIOC used for its cold pelletisation study.
Despite the modest shareholding, Treger has 'significant influence or control over BSL', my speculation being that he's fronting for BSL's largest (26.4%) shareholder , an opaque Bermuda based asset manager, Concord Atlantic Holdings, that is otherwise unrepresented on the Board.
My earlier post :
" https://bindingsolutions.uk/
where Anthony Trahar (AT's Dad, ex CEO of Anglo American) had some kind of 'safe hands' brief directorship during BSL's corporate changes a couple of years back.
BSL is using a recent equity investment ($17.5m) from Mineral Resources Australia to progress the design and construction of a demonstration plant for its innovative technology capable of producing approximately 50 tonnes per hour of cold-bonded iron ore pellets.
" BSL’s patented process uses minimal heat and very limited energy to produce high quality pellet or briquette products primarily for the global iron ore and steel industry. The technology reduces energy usage and CO2 emissions by up to 95% and 93% respectively compared to traditional induration processes, while also virtually eliminating SOx and NOx. At the same time, BSL’s technology enables reductions in capital investment costs of approximately 90% per 1 Mtpa of production. "
- Champion Iron (8.5% shareholding) provided earlier bridge finance and has a Director;
- DTSL and Julian Lee (8.65% and 13.9% respectively) are the founders, providing 2 x Directors;
- 'ACN 665 899614' (17.55%) , located in Perth WA, presumably Mineral Resources, has Director Jason Keys*
*was previously global marketing manager for Iron Ore at BHP Billiton for five years, and for the 12 years prior to that he held senior sales and marketing roles within BHP Billiton Coal and Rio Tinto Coal and Iron Ore.
- Concord Atlantic Hldgs Ltd (26.4%) is an opaque Bermuda-based asset manager; has no director BUT...
- Cotec Holdings (3.1%) also provides a Director (Julian Treger), who is said to have 'significant influence or control' of the Company.
- Mitsui (4.3%) previously provided seed capital in an earlier investment round.
It looks as though the Australians are scouting around for any way to put lipstick on its 'pig' iron.....
And if BSL could work wonders for low-grade Aussie ore, what could it do with Zanaga's
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