Member Info for extrader

Hi winalot et al,

Since marinetraffic etc includes boat heading as well as speed, a vessel showing zero or minimal speed and headings that evidence clockwise or counterclockwise progression through 360 deg would tell us that the weathervaning capability had been tested.

I imagine this test will form part of 'sign off'.

ATB

Hi shaun86,

Unless you are a linguist yourself, how - with all due respect - would you be able to evaluate how accurate / faithful a machine translation was ?

Hint : have a look at https://www.scriptorium.com/2018/01/is-google-translate-good-enough/ and readers comments.

HTH

Hi Veteran10,

…"Or maybe it is seen as market abuse to be spouting unfounded comments as fact."....

Tell that to the posters who've so far got the outcome of FOCAC wrong, the spades in the ground wrong, the imminent Danish urea plant wrong , the translations of press articles wrong , the nature and extent of GLEN's involvement in Champion Iron etc etc....

ATB

Hi Rafaley,

…"We don't need to tolerate lies and nonsense..."

Couldn't agree more. Unfortunately, some people don't 'do' irony.

ATB

No, one possible interpretation - amongst several - is 'concert party'.

My comment re 'credible source' was a general reference to the 'speculation as fact' that has generated most of the posts on this bulletin board over the last couple of years, which have flourished in the absence of any hard info.....and often even in the face of evidence to the contrary.

ATB

Hi shaun86,

Don't know who Julian Higgins is...and we don't seem to have found out much about Keith Everitt, other than his Flybe punt.

For all I know, they could be 'friendly hands' - or just 'patient ones' - mopping up from the impatient.....

Nature abhors a vacuum, and in the absence of hard info from a credible source eg the Company I guess there's a temptation to fill it with any manner of stuff, whether likely or not.

Hi all,

No idea if there's any substance to the recent speculation on another board that ZIOC may be taken private - I'd merely observe that the hitherto much-praised attitude of management in not constantly issuing new shares/raising fresh money / diluting the PI's etc would actually make the mechanics of taking the company private a lot less complicated, as there would be (= are) far fewer people to pi** off.

What's mildly interesting is that 3 attempts today to discuss the possibility have been pulled.

NAI, DYOR etc etc

ATB

Hi all,

Good to see that, of the 800,000 shares issued, only 200K go to the suits and 600 are distributed amongst the 'other ranks'.

There aren't too many of those, AIUI, so a decent wodge for the lads and lasses.

ATB

Hi all,

Well, I for one think it's interesting /good to see that our Technical Engineering Director has been allocated 675K of VCP shares.
Suggests to me that whatever issues HUR may or may not have with DDD, they're happy with their own man's efforts.

ATB

Hi Ironic,

.."So what is your point are things dodgy here ? …."

My point is that people shouldn't post (and/or keep on posting ) as 'fact' things that are wrong, something that applies to the eeyores and the pollyannas alike, of course.

Hope this clarifies.
ATB

Hi Ironic,

From 'Placing Statistics, p 6 IPO document ' :

Number of Ordinary Shares in issue prior to the Placing and Admission 254,934,212
Number of New Shares being issued pursuant to the Placing 19,907,629
Number of Sale Shares being placed on behalf of Selling Shareholders 19,907,629
Total number of Ordinary Shares being placed pursuant to the Placing 39,815,258
Number of Ordinary Shares to be issued to the LTIP on Admission 5,574,135
Number of Ordinary Shares in issue immediately following the Placing and Admission 280,415,976
Gross proceeds of the Placing £62,111,802
Gross proceeds of the Placing to be received by the Company £31,055,901
Gross proceeds of the Placing to be received by Selling Shareholders £31,055,901
Market capitalisation of the Company following Admission at the Placing Price £437,448,923.

You can see that the Company (ZIOC) received £31 M and the Selling Shareholders received £ 31M. As I said previously, this likely reimbursed them most of their seed capital investment.

HTH and ATB

Hi Ironic,

If you're going to quote 'facts', you should be a little more careful with what you say.

…"Facts Zioc relaunched with nearly 280 million shares in 2010 . M Cap was £437 Million with £62 million from the placing . Combined £500 million "

At the IPO, approx. 40m shares were placed @ 156p. However, half these shares (20m) were sold by the founder shareholders. So THEY collected £ 31M (recouping a large part of their seed investment) and ZIOC only got £ 31m.

And you don't add cash in the bank to M Cap. M Cap is just shares in issue x the value the MARKET has placed on the shares (including an assessment of the company's tangible (eg cash) and intangible assets, future prospects etc).
At IPO it was 156p (MCap £437m), it reached around 240 (MCap +/- £ 670 m whoop-adee-doo) and now it's 12p (M Cap £ 34m or so).

We may THINK ZIOC is worth more (and may have good reason for thinking so), but the market doesn't, as evidenced by what people are actually willing to pay for the shares . Of course, in tulip mania, bitcoin, dotcom boom and other examples, the market gets over-excited ....and pays more than others think something is objectively worth.

Hopefully, some of the things we are hoping for will actually come to pass, MrMarket will change from depressive to manic...and we'll all ride off into the sunset.

ATB

Extrader
21 Jan '19 - 07:25 - 39051 of 39051 Edit
0 1 0
Hi all,

As others have said, not a 'biggie'.

The RNS detail does at least suggest that Puffet isn't as close to the action as some would (like to) believe.

Puffet @ 1400 yesterday :

..."No major issues just the sea state. Challenging at this time of year to hook up so just have to wait for the next weather opportunity...."

ATB

Hi LadySonia,

Interesting.....!

From my Sat post :

…" A naïve question : if the AM is 'skittish' at present, why not put her in full ballast and have her riding much lower in the water...? They've got plenty of time on their hands to pump out afterwards..."

Maybe ADUK IS right....and HUR look in on this board...(joke !)

ATB

IIRC, some early Rigid Inflatables were designed with this principle very much in mind.

Hi SG2,

Thanks for your comments/clarifications.

A naïve question : if the AM is 'skittish' at present, why not put her in full ballast and have her riding much lower in the water...? They've got plenty of time on their hands to pump out afterwards...

That would seem to address most of your concerns.

ATB

IIRC, some early Rigid Inflatables were designed with this principle very much in mind.

Hi all,

The Weekend FT carries a reminder of the complexity of developing nation debt rescheduling negotiations.

Excerpts from a blog by the IMF's director of its strategy, policy and review department :

…" deepening concern over a build-up of opaque Chinese lending to developing countries..."

…"difficult to judge whether a country's debt is sustainable ….harder to win creditor backing for a bailout....absent any mechanism for Beijing to play its part..."

…" the US administration has made it clear that it will not support any IMF rescue that simply helps a recipient pay off debts to Beijing - which is not a member of the Paris Club group of countries that coordinate debt relief..."

..." holding governments to higher standards of transparency has become a priority for the IMF, as Chinese lending for infrastructure projects is notoriously hard to track, with project details witheld and loans often issued on commercial tems by state-owned banks and other actors..."

Lots to play for in C-B, then, but with China, the US and GLEN likely all more preoccupied atm with what's going on nextdoor in DRC.

ATB

Hi JayKay1,

I sympathize re EngLit rhyming issues. Our American friends make it easier :

" Candy's dandy,
Liquor's quicker,
Pot's not..."

Or so I've been told.

ATB

…...and the recent discovery of additional hidden debt can only complicate matters further, maybe a promised audit of the national oilco SNPC will help, once the 'promise' has been fulfilled....?

How long do PI's think such an audit would take, to have credibility ?

ATB

Hi all,

As former Chair at Anglo American, Trahar senior was paid big bucks to see the big picture.....to join up the dots, if you like.

He's become aware from Trahar junior , perhaps, of a 'revolutionary technology' that will transform the economics of the entire iron ore market.

Is he getting involved with the owners of this technology for the exclusive benefit of ZIOC (which doesn't yet have any product for beneficiation) or because of the royalties that BS will generate from ANY / ALL iron ore suppliers currently out there ? And with an increase in subsequent supply of 'premium' quality Fe, you'd expect the current scarcity 'premium' in price to fall away.

I see how this news could be good for AJT senior, it's not (yet) evident why this is necessarily good for ZIOC.

Mind you, I see elsewhere that Nguesso's replacement of Customs Head and a few others is seen as addressing IMF concerns re corruption. If you look at the report (in French), howver, you'll see that it's more the case that some dead-beats have been replaced by other faces from the same (favoured) tribe - 'la meute' - the mbachi, who are seen doing what's described as a war dance to celebrate their continued access to the trough...

Can't see , myself , that the IMF or the Chinese for that matter, will be overly impressed by this cosmetic clean-up.

Let's see what actually happens - rather than, as so often seems to be the case, interpret /anticipate events that in the cold light of day actually have little basis in fact,

ATB

Hi Mitch984,

Thanks for the MPIUK reference ! It's a puzzle trying to work out what exactly is going on here.

From what I can see from the various filings :
- Ambershaw Metallic, the people reported as working on the cold palletisation technology that ZIOC hopes to use are owned 66% (3/18) prev 95% (3/17) by Legacy Hill Resources (LHR), who also had a material holding in Binding Solutions (BS);
- LHR used to own 100% of Legacy Hill Technology Ltd (LHTL) until April 2018, when they sold 51% to Julian Lee;
- around the same time, another co DTSL Technology got shares in Binding Solutions (BS) as compensation for termination of a licensing agreement and various people got shares in BS for transferring a patent to BS ...in April 2018;
- meanwhile (I hope you're following) Julian Lee , who used to give his address as c/o MPIUK changes it to c/o BS which reports that (both on 27 April 2018), LHR ceases to have significant control of BS and Julian Lee has 50-75% control of same.

So far, all this seems to amount to a reshuffling of ownership of some technology , but to what end (and to whose benefit) isn't totally clear, to me at least.

Maybe the filings due from BS in the next few days will clarify - esp. what Trahar senior's role (and contribution) will be.... and when/why he decided to get involved.

Meanwhile I reiterate the view that - whilst we all hope this is for ZIOC's benefit - the technology if it works can presumably be licensed to ANY iron ore producer...and in that case would obviously benefit in the first instance iron ore producers that have product currently available for beneficiation.

Let's see what else comes to light.

ATB