Member Info for extrader

Hi all

From C-B public relations, not the ADB itself - and a 'roux project ', long in the works - but hopefully a sign that funds are being freed up for C-B.

ATB

Hi Biffadog
Call me a cynic, but that would leave FOIL announcement to JUST before AGM.....?
ATB

Hi Starvinmarvin,

If (1) your risk appetite / experience extends to spread-betting and (2) you are confident about ECO's prospects / share price trajectory - 2 BIG 'ifs' - you could topslice your existing holding, by selling, say 20 or 30%, then 're-invest' a portion of the funds released in a spread-bet that re-instated your starting position, i.e. putting a little leverage into your ECO position.

In the above example, from a notional holding of 100 units, you would sell 20 (or 30), then use 10 units (or 15) as margin on a spread bet of 20 (or 30). So you would have freed up cash = to 10 (or 15, as the case may be) units.

From your opening post, it read like you were thinking of getting cash for ECO, whereas your follow-up suggests that you're thinking more of freeing up cash for yourself ?

No advice intended, just a suggestion, always DYOR.

ATB

Hi Starvinmarvin,

If we sell our shares back to the company, ECO has to buy them from us - so it would end up with LESS cash, no ?

Gil has said recently that we've got enough cash to cover most eventualities for all the current planned drilling (AIUI), if the s/p does what we're all hoping, some small dilution down the road would hopefully re-fill the war-chest.

That's my understanding, anyway !

ATB

The concession runs to 2038, the first 300 out of possible 1800 MW plant isn't due for commissioning under current timeline until H1 2023 , so NCCL has a market = demand for 1/6th of supply for 15/25 years of license life.

The point isn't whether the supply is adequate (it obviously is) , but rather whether NCCL can take full advantage of it or not....and make the money it (and its owners) hope to. Hence my earlier comment 'Use it or lose it'.

Playing the man, rather than the ball tells me all I need to know.

Have a good weekend.

Not really, pal. You're the one who wrote .."this coal is 100% owned by NCCL and a lot seemingly have forgotten about this and seem more bothered about what someone posts on twitter. "
You're wrong on both counts. As a frequent poster, maybe you just lost track of which board you were on ?

Forgotten about by whom ? And you're not merely 'stating', you're explicitly 'linking', when - having quoted MCap and s/p, you then immediately go on to say 'This was based on....NCCL's 'ownership' of a resource that has since increased 157%....

Hi EyeGuy,

You're confusing 'ownership', which for most resources rests with the State, and 'temporary license to exploit', which AIUI is what NCCL has : they're given a period of time in which to pull together a deal, setting up a means of commercialising the resource. Also known as 'use it or lose it'.

And what Mr Market decided the implied value of the Company was at IPO 9 years ago, when the world was a different place, has no read-across to today. For one thing, the deal structure we end up with will likely be very different from that envisaged at the outset.

That, I think, is why Mr Market hasn't reacted more positively to the JDA 'news about news' : let's see the fine print.

To be clear, I'm hoping for some uplift, but my guess FWLIW is 'low teens'.

ATB

ATB

Hi all,

With the increasing likelihood - after so many false starts - of the IMF actually reaching debt rescheduling agreement with Congo-Brazzaville; the increasingly favourable alignment of other supportive factors (investment in Africa initiatives, tailings dam impact, Chinese environmental concerns); and GLEN's 'complicated ' position in the area ( under US DoJ investigation re DRC and with oil loans exposure in C-B that will -presumably - have to be restructured), maybe it's time for Glasenberg to 'think outside the box', overcome his stated aversion to greenfield development and go 'full on' with Zanaga…..?

Not just EPP, but the whole shebang.

There is precedent : https://www.urbandictionary.com/define.php?term=Crazy%20Ivan

"1. In the book and movie "The Hunt for Red October", a sharp turn made by a Russian submarine to look behind it with sonar.

2. BY ANALOGY, ANY QUICK, UNEXPECTED AND RADICAL CHANGE OF DIRECTION, LITERALLY OR METAPHORICALLY."

You heard it here first.

ATB.

Hi Ironic,

Two entities invested around £ 12 billion each - £ 6 billion in hardware, £ 6 billion in software. One is called Google, where the investment paid off and Google > Alphabet is now worth about $ 850 BILLION.

The other is the NHS, which spent roughly the same money on a computer records system that didn't work and has been written off, with none of those responsible being penalised in any material way.

Moral of the (true) story ? Spending money doesn't by itself mean anything, you have to deliver something of value, that others will pay you for.

Until it finds a route to market, ZIOC has little more than 'hope' value. If/when it does, it should have a LOT of value.

In the oil sector, people make discoveries of 'useful' amounts of oil all the time but they sit undisturbed underground until someone figures out a way of getting them to market on commercial terms ie making a profit.

All over the world, young people invest time , energy and money in getting qualifications and then find they can't get a job that uses their (a) acquired skills or (b) expectations . If there's no market for their skills and someone can't make money employing them, then they won't . Tough.

That's the nature of capitalism and 'the market', welcome to the real world.

ATB

Hi guys,

Always darkest before the dawn !

I'm more confident about ZIOC's prospects now than when I first invested 2 or 3 years ago, since which time we've had the Brucie bonuses of (a) an improvement ion the world economy (b) China's refocus on high quality ore as a result of its environmental issues, (c) a more coherent/constructive China / IMF approach to debt management, and (d) the Brazilian tailings disasters (every cloud etc).

And as people keep pointing out, the resource hasn't gone anywhere.

NAI, DYOR and ATB

Hi academy,

The Proactive interview follows an Investor Presentation - widely publicised - that AT led a couple of days before. There's a useful copy of the presentation on Zanaga's website that you may not have seen.

ATB

Hi all,

Useful straw in the wind from C-B, I wonder how the Chinese feel about the news being released this way ?

Additional detail from China would be welcome, let's hope it's on rescheduling/restructuring terms that mirror (don't say 'follow') IMF guidelines.

And then we can look forward to the IMF's deliberations and how this fits in with their overall view (+ World Bank's, if it is to be involved in any financing going forward).

To echo/paraphrase Rafaley and another great man, " This isn't the end, this isn't even the beginning of the end, but it is - perhaps - the end of the beginning..."

Onwards and upwards !
ATB

Hi cadell,

On a point of information, Attenborough (with 6 grandchildren, so another 'do as I say, not as I do'), is patron of Population Matters and advocate of population control, see

https://www.ecowatch.com/david-attenborough-population-growth...

his views have been summarized as ' there are very few problems facing the natural world that wouldn't be solved by drastic curtailment of humankind'.

Thought you might find this of interest !

ATB

Hi all,

India's move is likely a combination of push/pull : Guyana is 'the country of 6 peoples' - the Creoles (Caucasian); the Africans; the Indians; the Chinese; the Portuguese; and the Amerindians.

The 2 biggest ethnic groups are the Africans and the Indians, both brought over to work the sugar plantations, as slaves and indentured labourers, respectively.

Local politics is somewhat divided on racial lines and India may see benefit in 'nudging' things its way.....

ATB

Hi allthatguff,

ZIOC's certainly better placed than it has been for some time.
I'm happy with my current holding and recently trebled my grand-daughter's .

ATB

Hi WackWack,

As much as 50/50 ?

As a BOO shareholder (from the high 20's), I noted in passing TMF's last offering by Mr Hargreaves re BOO https://www.fool.co.uk/investing/2019/02/27/look-out-below-why-i-think-the-boohoo-share-price-has-further-to-fall/

The s/p then ? 175p

The BOO s/p today, after another round of 'stonking' (technical term) results ? 240p, for a 37% uplift in 2 months...

Perhaps financial journalists (like MPs) should be paid by results ?

ATB

Hi beardozer,

I'm more familiar with the oil sector, where it's quite common for a small AIM explorer to make a good find and then lack the moolah / 'causes and conditions' to take advantage of its good fortune.

What it usually then does is farm out/down, receiving either cash (which it can use for other things) or cash that has to be used to cover its (reduced) share of subsequent development costs.

There's a small oilie called ECO (Atlantic) Epic : ECO that is a current 'live' example.

ECO partnered with Tullow Oil 40/60 in exploring for oil in Guyana, S. America. They struck lucky. To finance their share of costs, amongst other things they'd sold Total (the French supermajor) an option to buy part of their stake, which (post discovery), Total duly did, paying ECO $12.5 m for 25 of their 40%.
So ECO now has 15%, Total 25% and TLW 60%.,,,,,the 2 big co's have to stump up most of the costs of getting the oil to market, ECO has 15% of something quite big (and soon to be tangible) instead of 40% of distant 'potential'.

It's widely expected that - as soon as the scale of the resource has been confirmed - someone, likely TLW, will buy ECO out.

ECO was only established in 2011, partnered with TLW in 2016, made its initial seismic discovery in 2017, farmed out in 2018 and - with any luck - will cash out sometime in the next 12-18 months.

NB The above is for illustration purposes and not a recommendation/advice to invest in ECO. Plenty of things can go wrong. DYOR.

Our situation is a bit more complicated (more moving parts/dependence on other things happening) IF and WHEN Zanaga gets enough ducks lined up (actually lined up or at least, people confident that they'll do so- mine, power, port, buyer and money), I'd hope/expect that ZIOC will either sell DOWN or sell OUT, in each case on terms that are OK for the major shareholders. We're just along for the ride.

Things COULD happen relatively quickly (market conditions are more favourable than they have been for some time) or they could drag on.

Have a look at Ncondezi (NCCL) where the co-principal in ZIOC, Howarth, is active : they've been plugging away for years, with repeated delays and frustration, but it actually looks like something MAY be about to happen (they're hoping to partner 40/30 30 NCCL/GE S Africa / CMEC in a coal mine/power plant complex) if it happens I'd expect NCCL to sell down/out a big chunk of its 40%....and, hopefully, at a useful premium to the current share price.

Again, no advice or recommendation

Hope this helps, good luck whatever you decide to do.

ATB

Hi all,

Lots of excitement elsewhere re news of Sapro Mayoko's first shipment of ore ex C-B. Never mind that it's taken them a year to transport 23,000 tons from the mine , after the occasional derailment, to Pointe Noire (the old port, the new one hasn't been built yet).

Why the excitement ? We're name checked - and haven't denied the article contents.

What did the article say ?

…"Glencore's joint venture with British Virgin Islands-incorporated Zanaga Iron Ore Co plans to ship 2 million tonnes of iron ore per year over the next two years, and 30 million tonnes by 2024...."

We plan to ship 1 million tonnes p.a. (per the IP only 4 weeks ago); we'll do that starting in around 2 1/2 years, if we get our skates on; we'll do it via Gabon, because the C-B infrastructure isn't in place; and maybe we'll ramp up to 30 m tonnes in 5 years time if ALL the ducks (new rail, new port, new power station, the moolah) all line up.

Those details apart, the article is fine. Why would anybody think a clarification might be in order ?

ATB

Hi all,

Some of you may recall the above's recent negative prononcements on HUR....and we all know that past performance is not necessarily a guide to the future.

As a BOO shareholder (from the high 20's), I noted in passing Mr Hargreaves offering re BOO https://www.fool.co.uk/investing/2019/02/27/look-out-below-why-i-think-the-boohoo-share-price-has-further-to-fall/

The s/p then ? 175p

The BOO s/p today, after another round of 'stonking' (technical term) results ? 230p, for a 30% uplift in 7 weeks...

Perhaps financial journalists (like MPs) should be paid by results ?

ATB