Member Info for extrader

Hi AJA5,

…" "Our decision to exercise our option to acquire MANAGEMENT CONTROL of the Zanaga Project etc..."

is where the BOARD control the activities of the MANAGEMENT ie executive...

HTH and ATB

Hi iPBateman

And welcome ! A word to the wise : some posters here aren't comfortable when the facts get in the way of a good story. You'll be able to identify them pretty quickly by the quality of their reply.

Pls persevere : I for one am not that conversant with the nuances executive /Board re operations and oversight and it sounds as though you are.

In the country of the blind, the one-eyed man is king.

ATB

Hi "morris" - see , I can be childish too ;->

…"extruder .... was that your sale of 100k at 19.068 this morning, by any chance?.."

No.

Hi Afric,

.."Who would have thought?..."

Well, evidently not you, on this occasion. What part of my post do you think is not stating the (current) facts ?

Have a good weekend - I know I shall ;->

ATB

Hi BurtonD,

Thanks for this. The only interesting/new point for me was shortly before the end of his interview, where he suggested FOIL 'possibly before the end of the year'.

Does anyone know whether he's said as much before ? You can then revisit the question of Malcy's 'value-added' and whether or not he's a mouthpiece of the corporates he discusses.....

ATB

Hi all,

(1) ZIOC has stated in its RNS's and report to shareholders that development of the port is key to the next stage of progressing the project - ie it's a material event;

(2) Companies in the UK are required to inform shareholders of any material event that might affect the share price, to prevent a disorderly market;

(3) ZIOC has not issued an RNS (so far).

It follows that as far as ZIOC is aware, there haven't YET been sufficiently concrete developments re the port to warrant an RNS.

That's where we are. Apparently, it's not just children and politicians that hear (and see) only what they want to.

I'm glad to hear that there may be some movement on the IMF / debt issue, there too it might be better to wait for news from the horse's mouth , rather than from its a**se.

ATB

Hi Peterfal,

.."China cannot afford to let this go and, "donations" because of their inherent non essential nature, speak volumes to me..."

Agree both points. In my personal experience (I used to work overseas for a UK High St bank in what was informally known as 'shakedown branch') 'donations' of the type you're referring to aren't usually part of official communiques. And anything for public consumption is usually the public tip of a private iceberg.

As to naming me in a header, "daahling you can write anything so long as you spell my board name correctly" - not everyone here seems capable of that..

Enjoy your beer !
ATB

Hi Peterfal,

My comment wasn't intended as a retort, more as an observation of facts, which don't seem to be a priority on this BB ;->

The thrust of my comment was that (a) most of China's aid is , indeed, tied - ie , they're operating out of naked self-interest, maybe we in the UK should do likewise (b) $45 M won't get them very far. I should obviously have expressed myself more clearly.

Another poster asked , more succinctly " where's the money ?".

Re my holding, I doubled my holding a short while back and averaged UP to 9.3p and I'm looking for at least £2.00 ie a 20x bagger (both on record).

I held 100,000 ASC at avge, 5.9p at one stage and made seriously good money there ;-> …. but not the 1,200 X I could have, so know these things are possible.

Someone stands to make a lot of money from ZIOP, if all goes well, I just don't think it will be us. But - with the potential you've referenced - even a fraction will leave us all well-placed.

So let's enjoy the ride ;->
ATB

Hi Peterfal,

My comment wasn't intended as a retort, more as an observation of facts, which don't seem to be a priority on this BB ;->

The thrust of my comment was that (a) most of China's aid is , indeed, tied - ie , they're operating out of naked self-interest, maybe we in the UK should do likewise (b) $45 M won't get them very far. I should obviously have expressed myself more clearly.

Another poster asked , more succinctly " where's the money ?".

Re my holding, I doubled my holding a short while back and averaged UP to 9.3p and I'm looking for at least £2.00 ie a 20x bagger (both on record).

I held 100,000 ASC at avge, 5.9p at one stage and made seriously good money there ;-> …. but not the 1,200 X I could have, so know these things are possible.

Someone stands to make a lot of money from ZIOP, if all goes well, I just don't think it will be us. But - with the potential you've referenced - even a fraction will leave us all well-placed.

So let's enjoy the ride ;->
ATB

Hi Peterfal,

.."Do you realistically think that national governments donate for fun. ?"

We seem to ;-<. We are second largest G7 AID donor, after US, with 80% of funds 'untied'.

China, with an economy 4 x ours, gives 2 x us, most of it 'tied' .

We're told by posters here that C-B went to China interalia to seek debt relief, which - again per posters here - was received sympathetically.

In the context of the $ billions being bandied about (both C-B debt and project earnings, Rodney) , $45 million is neither here nor there.

ATB

Hi shaun86,

Good of ZIOC to tweet a confirmation of an appointment of a highly qualified NED.

Don't you think that -if there was definite news re new port - they'd have tweeted about THAT as well, esp. given the importance they've specifically said it has in unlocking value ?

Join the dots, as the saying has it....

ATB

Hi marcusg71,

''That was a donation, not specifically for the Pointe Noire SEZ."...

Quite. If it's China's idea of debt relief, I don't think the IMF will be particularly thrilled !

ATB

Hi simonthezealot,

.."You can tell who got burnt today - one by one they are coming on the board spouting negativity...."

Or maybe just pointing out the facts in the face of lots of 'truthiness' : just because we all want something doesn't make it so....

As previously posted, I am indeed a seller …..with a limit sell of 10% of my shares @ 49p...

ATB

Hi all,

Let's see what the 4 agreements actually say and how relevant they are to ZIOP before breaking out the champagne !

(1) 1 billion FCFA is abt USD 1.8 million, so the Chinese Govt grant is about US$ 45 million.....

(2) From the SEZ own website http://zes.gouv.cg/en/special-economic-zones/economics-zones/pointe-noire , the new port is NOT part of the SEZ. Obviously, the SEZ makes much more sense with a port, so maybe that'll be subject of another , lower level, agreement involving China EximBank, the contractor etc.

I see No 1SS has made the same point.

ATB

Hi dspp,

Totally agree re desirability of better communications with PIs.

Maybe Vigo Comms could point HUR to the confusion amongst PIs seen on this board over the last few days and suggest that a 'progressive' communications process would tie in well with governance/accountability issues and any move to main market.....noting mischievously that HUR AFAIAA haven't specified UK...

Since this would , presumably, mean more work / business /income for them, Vigo would be 'incentivised' to make the case.

ATB - and good to see you over here.

Hi Maffy,

I agree offtake is more likely than ABL, but not materially. Let's use Champion as an example. It's instructive in all sorts of ways.

It's a Quebec-based iron-ore asset, bought out of administration . It owns 63% of Quebec Iron Ore (QIO) the other 37% is owned by the Quebec Govt. QIO needed Can $ 300M .
Its production (presumably magnetite) will be sold (Trump willing) a short distance away

Champion was required to put in $45M in equity, Quebec Govt $26M, total $71 or approx. 25% of total funds needed.

The Quebec Govt put in its share from its pension or sovereign wealth fund.
Champion raise $20M from an IPO and $ 25M from a convertible bond issued to GLEN, underpinned by a 10 year offtake agreement. Note : GLEN gets 12% pa on its CVB, and has global offtake rights fixed for 10 years and gets a director on Champion's Board. If there's a problem down the line, its equity stake post conversion is capped at 20%.

QIO then raises $180M
- $ 80M from Sprott, paying 7+%pa for 5 years. Sprott is a royalty streamer, so will get a fixed share of QIO production for a (usually long) number of years. This obviously reduces the profits available to other shareholders.
- $ 100M as loan from another part of Quebec Govt, paying 12% pa.

Numbers don't add up because of an unhelpful mix of CAN $ and US$ in my source document.

Look at the interest rates payable on finance in Quebec's own back yard, where the Quebec Government (or rather its taxpayers) is providing debt + equity of approx 40% of total finance needed.

Look at what GLEN gets as interest with equity kicker from Champion, for the small (10% share) unsecured financing linked to its offtake agreement.

Most of the lending is secured on physical assets in a first world country where the rule of law generally applies.

Compare/contrast with ZIOP and draw your own conclusions : it's likely do-able , but not on the 'walk in the park' basis that's been discussed so far.

ATB

Hi NewKOTB,

…" Not the way serious financing works as you know."

Unfortunately, that's EXACTLY how serious finance works. I'll post shortly re Champion which addresses this point and the (relative) significance of offtake to a lender.

And, for my sins, I DO know....
ATB

Hi NewKOTB,

We had $37.6M of net fixed assets per stockopedia, mostly the 'written down value' of spend to date.

None of which is readily 'grabbable' by your friendly lender.

ATB

Hi scottology,

Yes, that would be the 'read-across' value. The IPO saw 20M shares and 30M cash give ZIOC an implied value of 288mx 1.59 = £ 458M against cash value of 30/288 = 10p per share

Your example would see £150M cash spread over 382M shares = cash value of 150/382 =39 p per share.

And just as we overshot the 1.59 back then, we might expect to overshoot again, on the basis of increased (tangible) interest/credibility.

ATB

Hi TheCashFerret,

Either (1) a cash call/ rights issue (if you don't take part you're diluted) where ZIOC gets cash or (2) shares issued for goods/services or for a farm-in (where ZIOC derives a benefit, but shareholders are diluted).

Hi marcusg71 ,

Yes - boilerplate. But 'material' given that this (Res 5) is no longer academic.

Re Res 7, from a banking perspective Asset-Backed Loans usually require ...umm...'assets' rather more tangible and seizable than a nice spreadsheet.

ATB