Member Info for Jiving

Well I voted against both Blackwell & Keegan, as a disgruntled shareholder now in his third year of holding. I am not close to either DG or DT, and I picked up no hint either of them were lobbying for votes at the AGM.

CawCaw do you have a link for these employee share purchases. The only one I could find was the CSE link below, where it seems some senior management have retained the shares they received in the debt for equity swap for forgone salary. If they are now finally keeping them that is a big positive, because with the exception of Arthur no other director or senior employee was previously a significant shareholder.

Ken Halward the reservoir management manager is also now down for 14m shares.
https://webfiles.thecse.com/COPL_-_Form_9_July_31_2020.pdf?01I5wk_LudLEywOpxGHpkSkS0bTdp4nN=

IMO its not about delaying the figures, which as many have pointed out are not complicated, its about delaying the accompanying MD & A, which forces a company's management to reveal new business opportunities.

So what a phoneys weeks trading, we end up where we were last Friday @ 0.42. But the MMs made buckets shaking people out below 0.34 just because news isn't instantaneous & exactly predictable.

The Nigerians seem to be doing a good job economically/commercially of getting out of their CV19 problems, related to oil price downturn. They have in just the last couple of months announced: the bidding contest on 57 'marginal' oil fields (some of which COPL surely must be bidding for with Shoreline), the truce with the oil majors regarding taxes/royalties, the dry dock..etc etc They seem to have accelerated everything they need to do, to get things moving. Can only be good for us regarding OPL226 approval and the marginal fields bidding contest.

Fail again. Its real news we are waiting for not Twitter 25p+++ 'now' nonsense.

I have been going through the ADVFN Zioc posts from 2010 IPO. Not everyone (9500+) but a '1000' space at a time and its interesting from 2013, the GLEN angles became dominant. What is Glasenberg going to do, build, JV or sell - here we are 7 years later, same question. All the current explanations for the low price were given then - its a big seller...

Hi Extrader, and the figures being thrown around in the unbelievable Simandou saga are vast - for 'concessions'. Also look at the hell that has taken place over Simandou in the last 15+ years, whatever its problems Zanaga looks straightforward in comparison.

Incidentally when I was just checking out RTZ's current stance & plans for their blocks of Simandou I came across this news link from 30 July: https://www.mining.com/rio-tinto-determined-to-build-long-delayed-simandou/
"The world’s no. 1 iron ore miner was able to keep the two southern blocks, but only after paying $700 million to the government in 2011. That guaranteed Rio tenure for the lifetime of the Simandou mine."

We often search for some kind of valuation parameters for Zanaga, interesting RTZ paid an additional $700m to keep their rights to 2 out of 4 parts of the Simandou project.

Mitch984. Thanks for producing those option figures. V useful to see - essentially AT is likely on some 2% of ZIOC capital - or 1% of the overall project. Quite an incentive to get top dollar.

It seems very likely the Chinese are going to be involved in the Zanaga project, that is the way the African resource sector is going. But that does not mean they will necessarily get or indeed expect 100% of a project. We see that in Simandou, RTZ is planning to develop its portions of the project (3 & 4) in tandem with the recently announced Chinese development of portions 1 & 2. There is no reason why Zanaga when it finally reaches development stage could not include Australian miners in the eventual development consortium. That Andrew Forrest personally led a delegation to Guinea prior to FMG's bid on Simandou 1 & 2 , strongly suggests to me FMG's interest in participating in African iron ore projects is genuine.

The potential NNPC settlement with the majors is important news. The Nigerians realise they cant be 'at war' with the majors if they want massive inbound investment to develop new fields, so they are looking to cut a quick deal. It will also hopefully make developed/developing Nigerian oil fields more attractive for purchase by the majors.

I should point out by 'we' I mean the Shorecan JV, so COPL's effective stake on exercise of the option, would be increased by 10% to 15% from the current 5%.

Lets not underestimate the worth of the 20% option on OPL226. Basically its only exercised if we find oil - no oil, no cash, no commitment. Now its NOT great if there is no oil on first drill - and very unlikely given the exploratory wells that have found oil and the seismics - but it means the capital for the 20% has NOT been committed & is available for Mozambique & the Nigerian marginal licences, if the first drill on OPL226 against all the odds is a dud. An option, not a commitment, is smart & exactly what we want.

Going forward there are opportunities available to COPL at low entry costs as a result of the drop in oil prices due the COVID-19 pandemic. We are evaluating these with the view of adding opportunities which offer near term production and cash flow with good economics during this period of low oil prices.

Trumpy that is my hunch, once the deal is actually signed - presumably during working hours - the RNS will be released, as it is critical news & should not be delayed till 7.00 am. The 4 June, Dispute Resolution RNS came out at 12.58 London time.

Thanks Caw Caw that was my hunch as well given the historically (last 3 years) low volume on CAN. But recently that has picked up & typically there are a bunch of orders @ 0.05 bid, not least because thats actually a discount to the UK price when that's over 0.30p approx. So its strange to see zero, but maybe demand has been filled for now. I have been active in gold/silver miners on TSE in the past so I know how ferocious volume can be when investor interest awakens.

OK its just got weirder in CAN, 0 on the bid & 360k @ 0.05 on the ask.
ie there are no buyers & suddenly some sellers at the lowest possible price allowed in CAN.
Volume is so small in CAN - but do they know something?

50k up on the bid in CAN now, but it does seem weird there is no significant bid volume showing - why?

Good find allthat:
"Mr Abbott, however, said Australia would be particularly vulnerable if China was able to instead source all of its iron ore from west Africa."

I see FMG hit an all time high intraday going over A$17. Interesting to note that the other two major miners with huge Australian iron ore interests have both bought/created JV's in non-Aus Top 10 iron ore mines. RTZ with Simandou & BHP with Vale in Samarco. FMG alone in being so dependent on Australian sourced iron ore.

Yep Bob the important thing is the big buyers are still piling in & they are buying now not 6 weeks ago when it was 10% of the current price. Almost like they got the nod on news!

Right liquid1 - 113 million in 3 consecutive trades, I have been here 3 years and never seen anything like that.