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Qz, you're referring to Gina Rhinehart - she's an Australian iron ore mining billionaire. And she took a loss. So there's really nothing in your post that isn't rubbish.

You're right Alex. I just picked up another 150k at 4.95p. That's it for me - I now own 1% of the company so feel a little exposed right now. Hanno better deliver!

Yeah I wouldn't say all is negative at all. Providing the macros don't collapse then I can see the stock climbing. When is the question though - There's a ton of free and 5p shares to churn before anything happens. I also think there'll be a lot of selling into any good news like a f/o. But yes, macros holding up the SP should be closer to 10p come the new year, rather than 5p. The other risk is warrant holders shorting whilst dumping their confetti shares. PMO currently learning a lesson in how a 'partner' can be their worst enemy.

Hi guys, can someone confirm the number of £.0001 warrants outstanding are 71m? Also, are there any other sneaky 'nil' warrants to mgt and loan note holders that I'm missing? I don't care to do work it out but I'm guessing the average for the loan note holders is pretty low after they've heavily participated in the latest raise at 5p, then received 55m free shares.

Can't see this moving out of the 5's for sometime I'm afraid. Best chance is for a f/o to make it bounce (before retreating again). But if oil continues to languish and no news on a f/o is forthcoming then it could be anchored here for a very long time i.e. til next year. Those producing assets are worth f'all if oil sits in the high $20s to low 40's. I don't have a crystal ball but everything is pointing to a second spike come winter. Hopefully world leaders won't go back into lock-down but demand will still be very low if you have people working from home and mass unemployment. And then there's the risk of OPEC falling apart. Boggles the mind really.

Charlie can you please post the conviction buy stocks here.

Also no corruption. No Chinese and Congolese doing their dodgiest.

I usually don't go in for a lot of the horse**** that I read on here about stocks being 'held' at a certain price. But in this case I'm willing to believe. Incredible how the price has been bouncing around 6p since they announced their creative capital raise. Will give the company an extra US$500k, which is a nice round number to work from.

I'm also expecting there to be a bit of FOMO kicking in over the next 2 weeks. Not a lot, as even the twitter rampers acting in concert couldn't push us past 8p, but i do expect a bit of upward movement all the same. Hopefully Trahar will have something of substance this time round. I'm almost expecting an update that includes an airstrip proposal for an EPP saving us money on a port and slurry pipe, combined with a novel way of generating power from teams of mice turning a wheel. The details of said plan will never be released as it's all experimental, but there will be a further update in 1 year.

I wonder if Trahar looks in the mirror before each proactive interview and thinks 'Here we go again, I'm not even getting paid to deliver this ****!' :) Anyway, I'm happy to hold my 1m for the big pay off, providing it does pay off, and relatively soon :) GLA

Hi guys,

Quick question, can someone point me to the most up-to-date listing of all warrants outstanding and their exercise price? I think it would be interesting to understand the real average of some of the so called 'sticky IIs' that are being discussed. If they've been issued tens of millions of warrants priced at next to nothing then they're I'd argue they're not going to be as sticky as some believe.

Out of interest, how many warrants are there at .01p?

Hi Sooty, I feel your frustration. And yes it could be years before anything happens, if anything happens at all. I've already mentioned that I don't believe a meaningful update will be delivered this month. But I tell myself the project will cost $1bn+ for any buyer, and the bod have more 'skin in the game' than pretty much any AIM company out there. It's in their interest to sell this project. And all the moves they've made to date, including incentive plans for staff etc. suggest they're gearing up for a deal. The stars couldn't be more aligned from a sector and geo-political stand-point. So whenever they're able to overcome the unknown hurdle that's blocking a sale (be it Glen, or China + RoC), then this share will make holders very wealthy. I'll do my best to trade this in the meantime to get my average down to the 2-3p level from its current 6.9p level. I'll need to time it well but could have done this many times over in the past 2 years so feel confident I'll get another chance. The way I see it, if you get your 12p spike to get your money back, I should be sitting on 1m shares at less than 3p average. So best of luck with your investment!

Forgot to mention that I think we're being held in the 6p range, which I put down to the placing (or whatever you want to call it). Reckon they've been given a target of circa 6p (£400k to Zanaga) and we'll get this as part of the update in the coming month. Issue with this is it means we're most likely going to get f'all by way of further information - Common sense says you'd wait until delivering some +ve news to raise at a much higher price. So I'm not expecting much at the next update. Usual horse**** from Trahar about the size of the resource etc. I think news that we have enough cash for another year will help to support the sp, but fully expect there will be a short term drop as some lth's and traders give up on mgt and their ability to make anything happen. We're now on the dilution slippery slope so hopefully mgt recognize they're operating on borrowed time or they get diluted just like the rest of us. Will see soon enough I suppose.

Well I just topped up another 225k (125+100 this morning). That's my 1m shares. Average is about 7p, so not too bad, but not too good if Zioc continue f@cking about with this asset. If there's more rubbish from Trahar at the next update and the sp tanks to 5p or below (likely) then I'll top up again by 500k and will try a bit of trading. I figure the twitter rampers will jump onboard again at some point. Who knows there may even be some actual news before Xmas and we'll jump to +20p again. My aim is to keep 1m shares in this long shot until it comes in. If I can trade and get my average down to 2-3p (for 1m shares) then I don't care if I lose £20-30k if it means I can make millions. For that money I can wait.

On the current state of things. I've mentioned many times before there's a stumbling block that we're not aware of. My bet has always been on RoC officials blocking any sale to non-Chinese entities, which also means some extra money for their offshore bank accounts. China needs the ore. Glen and Zanaga would prefer the cash and not to develop. We know that majors are actively looking for assets across west Africa (remember Vale and FMG made massive bids on Simandou). So to my mind the RoC is blocking a straight sale to anyone other than China. This makes sense for RoC as they need the associated infrastructure the Chinese will build. But since when has an African leader or gov.t done what's right for their people and country, rather than themselves...? There's plenty of ways for RoC can block a sale if they're not getting enough money in their brown paper bags. They won't get that money from the blue-chips who are being watched very closely nowadays. No point owning a mine if the country blocks your ability to get it from the ground to a port. When the price is right, and some dodgy little Congolese hands are greased, we'll have our sale. Hopefully not too long to wait though. GLA

Reckon it may be a bit longer Tony, as there'll be people that buy in the mid 5's and will churn at 6p at so on. IMO give it a month of decent volumes and the sp should start looking like it's ready to break out of the 6's. All bets are off if there's something external though, which can go both ways e.g. f/o (+ve), 2nd lock-down (-ve), OPEC breakdown (-ve) etc. Even I'm tempted to forget the past and come back in the mid 5's in a few weeks after I sell out of one or two other stocks. I want my £60k back from these dodgy f@ckers :)

Sorry guys yes they were my trades. Both buys, which is why I thought there was a bigger sell being worked int he b/g. Perhaps not. Happy to pick them up sub 6p though :)

Must be a decent sell in the background. I've just managed to pick up 250k + 150k shares at circa 6p :) If HZM has another little kick and the sp stays at this level then I might double down and take my holding up to 1m shares (currently 800k). Then I'll just need to sit and hope the dirty three of Glen, China and RoC can come to some sort of agreement. The mind boggles at what could be the issue in selling a +$100bn asset to an economic powerhouse that desperately needs the high grade iron ore, from a major that desperately needs to pay down debt, in an impoverished nation that desperately needs to develop it's economy. Something has to give at some point (he tells himself yet again).

Yes interview is solid. I think my previous post still stands wrt current & future SP, and the key milestone that needs to be achieved i.e. tariff agreement. This is the Moz commitment hurdle that needs to be cleared if we're to re-rate to double digits. I'm really hoping it doesn't get pushed beyond Q4 otherwise we'll be in this trading range for some time.

Well some good news here today, although you'd hardly be able to tell from looking at the sp. Few positives that perhaps people are missing:
1. This agreement signals project partner commitment. It's what allows us to go into full form agreements, which are the legally binding commitments leading up to FC. Each full form agreement like EPC and O&M will signal deeper commitment, but we needed this step first.
2. CMEC is taking 60% (at the moment). This is very important as it means one partner. If both CMEC and GE were taking stakes it increases the time and effort for anything to be signed. Also, CMEC are the 'muscle' when it comes to our partners. They have the gov.t connections, the money, the 'know-how' etc. The more they own the better for us.
3. Finance to be arranged by CMEC. This knocks out the hardest element for a minnow like nccl leading up to FC. Again it's for just two parties. And the more CMEC own the easier it will be to close, which is why I believe %'s will change at shareholder agreement stage.
4. Agreement governed by English law. The Chinese & Moz are dodgy f@ckers so good to see this noted as well.

I've mentioned before that I didn't expect to see % stakes change at this stage as there's simply too many steps that need to be taken before FC. I also believe that nccl and the Chinese have discussed the cost of any additional stake and are simply ticking boxes before they come back to the table to agree final %'s & $'s. This I believe will happen at the shareholder agreement stage, but will be guided by the subscription agreement i.e. if 60% = $X, then 75% = $Y.

The reasons why I think the sp hasn't moved as much are as follows:
1. Some people thinking that CMEC would be taking a bigger stake at this stage. They're now disappointed and are moving on with their 10% gain.
2. The long list of remaining steps mentioned in this release. If we take an extra month or two for each of them then we'll still be waiting on FC in 2022. And nccl (+ partners) don't have form for hitting deadlines.
3. This signals project partner commitment, but not Moz commitment. Again, I've mentioned the most important next step is tariff approval. Without it, nothing of any real importance happens. I'm hoping that Hanno addresses this in any interviews he gives in the coming days. If he mentions tariff approval will happen before year end (hopefully sooner), then we'll see that re-rate to 6-7p that I've been talking about. The historical costs mean nothing. It will be nice to know that we have $25m coming back to us, which is more than our current Mcap, but it only happens if / when we get to FC.

In summary the most important step in the coming months is tariff agreement. My thoughts again on sp movements are we'll get to 6-7p leading up to tariff agreement (assuming historical costs, EPC & O&M are signed). On tariff approval we'll again break 10p. After this who knows. If the Chinese want an extra 10-15% then 25p seems about right at FC.

All good and well these little movements on little volume but we're still waiting on news that was due how long ago...? SP is drifting. And there should have been at least one piece of news delivered that doesn't rely on other parties - historical costs audit. Hanno still hasn't delivered our accounts, so little wonder everything else is taking far longer if we cannot even hit the timings that are in our control. Get it together Hanno.

I agree the project will happen CF. It's just how long we need to wait for key stages to be moved forward. There's quite a few hurdles to clear before we can be confident that both our project partners are committed, alongside our Moz partners. SHATS will signal project partner commitment (along with EPC). The tariff being agreed will signal Moz partner commitment. It's why I think this stage is the key to unlocking a share price re-rate (10p+). SHATS may surprise us with an increased CMEC stake, which would be wonderful. But I don't see them announcing that until other important ducks are in a row. Happy to be wrong. Bloody frustrating waiting for a truly positive rns. It will make a nice change from the 'delay' and capital raise rns's that we've had to endure of late.

And still we wait...