Member Info for Jiving

Great find Shaun, to discover a hard link that specifically mentions Zanaga by name is very unusual. The second post confirms we are in the critical phase of the project prior to finalising/announcing the key strategic investor (s).

But the first gives us a glimpse into the kind of very detailed, high profile marketing trip that Marty was engaged in during May-June 2024, & of course he didn't just visit China!! Liked this in particular:

"The Chamber of Commerce has attracted more than a dozen large central companies and listed companies in China to participate. All parties are very active and attach importance to project investment financing. "

So many different thread all coming together at once - all confirming we are in the end game (at last).

It would surely be appropriate for them to now release the announcements AT promised on 14 December:

"But we now have a string of announcements planned for the early part of next year that we are going to be hitting milestones on and getting into the public domain for our shareholders."

Yes Extrader IF it means anything, & its not simply a legacy booking as suggested by MM, it would point to a buy-in. Also it's specifically the African subsidiary so it Africanises our profile at the Indaba.

Great find ATG, we have a whole load of timelines & personnel coinciding next week. And yes it is v interesting it's the subsidiary.

We have often thought our strategic investors (think Saudis & all their grand African plans, so far with little to show) will try to maximise PR/IR & what better place than a major conference - one day!

Thanks Mars1 that is excellent research. We are actually in the right spot & even if 'big' pharma has serious reservations about repurposed drugs, mid-tier companies looking for business may have other ideas.

Answers a plenty, here you go: nuformix@investor-focus.co.uk

The 'partners' are pharma's who invest in biotech licensing deals, of course they dont reveal in advance which companies they are negotiating with, nor for equally elementary reasons do they reveal their specific criteria. Where we are & what we are going through, is exactly what any small biotech investor should anticipate - a bumpy ride with no certainty of a successful outcome.

Best you direct your questions & your ire to the BoD: nuformix@investor-focus.co.uk

I see it as broadly positive. Given the late date of the Orphan submission it was blatantly clear they would have to raise to give themselves 4-6 months to nail down a deal. When we were bouncing around 0.05p, a likely raise would have been at 0.03-0.035p, & we just raised at essentially twice that price, making use of a PnD - actually to the advantage of shareholders for once! The other positive is that its for just over half the GBP300k I was expecting, which means they may be fine tuning it in the hope of securing a deal sooner rather than later.

I live in Da Nang in central Vietnam, specifically downtown on China Beach.

"The lights are much brighter there

You can forget all your troubles, forget all your cares"

Ironically ATG its the other way round I would have to sell shares to pay for the flight. And no I am not going to do that for a ZIOC meeting with unknown content, that I will likely be able to watch or follow real time.

Yeah I know, could see me landing on the 10th to find they just posted a postponement RNS at 16.35.

Exactly Driving, many of us cannot simply get up & get on the Piccadilly Line to go to a meeting. I live 6000 miles away.

Also the delay in announcing time/venue effects other potential attendees. This looks like being a major update of development plans in light of the critical Port/Power MOU's, that took us some 12 years to get into place. As such I would have expected them to try to get fund managers, mining analysts, the financial press & trade press along. Maybe even some potential strategic investors! You need to give busy people the courtesy of time to fit attendance into their busy schedules, & leaving it to the last minute is highly unprofessional - not a good start for a re-launch.

Whoops guys, anybody left behind - looks like the action is moving elsewhere.

But dont worry, should be another bit of action May/June.

Due to interference - expecting a wall of red soon, this will be under 0.10 by the end of the week.

The MMs can't hold it much longer Captain.

DaProphet, I agree with you on placing timing, they will v likely need more money to get this over the line given the delay till we get an Orphan result. Better now at this level than 3 months hence at a way lower level, but we are main board listed so have restrictions......

Sorry to hear you have been ill Beardozer, hope you are on the road to recovery. Was expecting to see you at our celebration/victory party.

That is essentially a border area dispute between Rwanda & DRC, based around the town of Goma on Lake Kivu. Goma is around 1500km as the crow flies from Brazaville, by road its more like twice that, so I think we are safe.

Bizarrely sent without complete last sentence which should read:

"This would give sufficient share/offtake headroom within a buy-in consortium to include a developer/operator major miner."

99IC. Agree completely that a strategic investor could very well theoretically*, fund the equity portion of the Stage 1 costs & agree with your figure of approx $580m + contingencies. However, I would see any strategic investor having to come in at an NPV price based around Stage 1 NPV. For buy-in purposes I have always worked on around 20% shares sold which at $3.68b would raise $736m - so even if there were a smallish discount to Stage 1 NPV a sale of 20% could kickstart the equity portion of Stage 1.

*But one critical issue I see hanging over all development options for Zanaga is: who is going to be the primary developer/operator. ZIOC has never aspired to be anything other than the junior, supporting developer, seriously this is not a Marty task but a Vale, RTZ, FMG level role. This is why I see any buy-in proposals taht leave ZIOC with a stake as being more akin to the original 50%+1` we did with Xstrata. This would give sufficeient headroom eq

Driving, I agree in the event of an agreed buyout bid being accepted by ZIOC BOD institutional investors have little role to play. However, separately they are important historically in explaining our high initial IPO valuation & the subsequent share price collapse when they correctly spotted circumstances had changed. They vindicate our belief & aspiration for an eventual NPV linked exit price.

The circumstances where I could see them having a significant short term impact on our share price would be IF on 11 February an announcement is made of a public auction for the Zanaga mine (in whole or part or both as alternatives). In those circumstances mining analysts/fund managers are likely to see the potential massive gain an NPV based auction result would have for ZIOC & it's share price - potentially resulting in immediate, substantial institutional buying.

Also a winning bidder would have a substantial economic motivation for buying as much of ZIOC in the open market as they can at any price below the final bid/agreed price (subject to regs etc). It occurs to me that the lack of such buying so far may be due to purchase restrictions imposed in NDA documentation.