Member Info for jv123

Https://www.zanagairon.com/wp-content/uploads/2023/11/Zanaga-Investor-Presentation-1-Nov-2023-1.pdf

On slide 8 it shows a table of the worlds biggest resources and figures for Simandou.

How does this translate into $$. ?

I keep saying it - it’s not the individuals (per se) at fault here, it’s the process.

We have no idea what the company is doing to reinstate share value. All we get, via a chosen select few is “we are making progress” and don’t upset us. That’s it. That’s all is has been since Nicandros took over again. That’s the extent of our contact. Nothing else. Does that inspire confidence - not for me. It’s a joke !

Rather then squabbling about what information should be public or not we should, instead, be asking FRR for a position of clarity as to what excatly they plan to do over the coming months to address this 5 yr drought.

We ve had enough of the cloak and dagger nonsense. It’s become a convenient excuse to remain silent and hidden.

Looed, if you want make everyone much less tense, then ask the company politely to start being more transparent and open. We are invested after all.

How about a conf / Skype call with SN and a SH select group - Q&A ?

Minutes can then be fed to all SHs

Would SN agree to this ? I

Maybe all shareholders show show solidarity here and give the message to the company that we want direct comms.

Let them read that if they monitor this board.

Well put Tenners. Wholeheartedly agree with all you say.

Looed - do you have a theory as to what is actually going on here ? I’m at a loss !

We are told the company is working hard to address all these legal issues and get back to “business”. However it doesn’t feel like progress is being made imho ? Failure to comply with deadlines and MOUs does not inspire confidence - with anyone! Why do they continue to fail on their commitments ?

What’s your gut feeling on this never ending saga ?

Maybe we have reached the point where the cards must be revealed ??!

The saga has gone on long enough tbh. Good or bad, it has to end.

It would beggar belief that SN goes to great lengths to save FRR from extinction only to lose it all through his failings to follow through on what he agreed. Is he that untrustworthy and dishonest ?

Either he expected a deal to be finalised and it’s delayed or there is no deal and therefore no money.

Maybe Looed will get a response to clarify things ??

So if we read between the lines - is SN stalling on paying his FRR debt so he can finalise a deal ?

Nicandros et all are taking the p!$$. It’s hard to accept, but that’s the reality. The guy can’t even send out a paragraph giving SHs an update on what’s going on. How can we trust in a chairman who does not communicate?

While this non communicado state continues the talk on here regarding court cases and the continual shifting of dates is actually meaningless because we have no idea of strategy, objectives and timelines.

“A return to operations” is just a statement, not a plan.

As time passes I am becoming more and more pessimistic.

Someone needs to rattle Nicandros cage !! I’ve tried and failed.

Looed - why on earth would GOGC and GGov enter into any production agreement with FRR at the helm ?? They had 20 years to deliver and failed. Their reputation is in tatters.

If they can still retain the rights to the 1% of B12, then I hope, for everyone’s sake, they sell it on. I would be surprised if that wasn’t already agreed - should they ever manage to sort out all the litigation.

We’ve had a million different reasons for the failure of FRR - political landscape, unfavourable government, bad men undermining the board, wars etc etc.

However, the real reason is incompetence. The company has been in Georgia for 2 decades and delivered nothing. Even now, they hide behind their legal battles, choosing not to talk to shareholders (the majority anyway) and dragging things along month after month, year after year. The saga never ends.

They care not a jot about the money we invested.

It does make you wonder how they could get things so spectacularly wrong and yet still exist and continue to deliver nothing of value to anyone.

If the value is there, why hasn’t it been exploited? Why has it not been taken over by a major ? Surely, in these times of need where O&G is in demand, the goal would be exploitation by fastest means possible ?? Where is the pressure from Georgian goverment to make this happen asap? Do they care about FRR? You’d think they would if the reserve figures are to be believed?? Why no pressure then?

Why is FRR fighting YA over a couple of million when the value of what’s underground far outweighs that ?

Delay tactics for $2m when you’ve spent $500m proving up your resource doesn’t seem like logic to me ??!

If the goal is to return to operations and create value then this should be the absolute priority - everything else should be swept aside to make that happen - if that is the goal?

The whole thing baffles, frustrates and angers me in equal measures. I’m probably naive but I just don’t get it.

I don’t see the light at the end of the tunnel.

Yeah - you keep saying it’s your last time.

You are the nominated spokesperson for FRR on this board - maybe that’s why you are mentioned a lot.

Suffice to say, after all that’s gone on, I trust no one. You might be completely genuine and a normal holder of FRR stock like myself, and others, but I don’t know that. You could also have an agenda ??

Don’t get your feathers ruffled cause I don’t jump on the same band wagon. The company will hopefully speak to us sometime. I’ll wait.

Looed - my previous messages are most definitely not troll like. They stated a relevant point regarding communication. You seem to take that as a direct criticism of you because you have become the voice of the company on this board. Your input, albeit valuable in a generic sense, doesn’t excuse the fact the company chooses to communicate with only a couple of shareholders, while others, who have tried ito engage ( yes, that’s true) receive no response. That is an issue IMO.

The fact that you feel that is somehow a personal criticism of you baffles me?

I’ll leave it at that.

Looed - you don’t like when someone doesn’t see things the way you do. You’re always a bit touchy when the topic of comms is raised. Why?

Bottom line is this - no one should be excluded from communication flow from this company. I should not have to rely on you ( a person I don’t know and have no dealings with ) to be my source of information - especially when that information comes direct from the company. If you think that is a perfectly suitable way of delivering comms, then maybe you are deserving of criticism.

My aim isn’t to cause division- what would I gain from that ??? But I am entitled to my opinion and I will express it when I feel I want to. Understood !

Atb

I think we can all agree that it is completely bizarre that the company communicates with only a selected few SHs. If they know (which I assume they do) their individual comms gets filtered down via this chat board, then why not just release a formal statement through the correct channels ? One update of a general nature would be enough to satisfy SHs - for now anyway. And it would stop this “them and us” situation.

We all have a stake in this company and thus, we all deserve to be kept up to date with what’s going on.

It shouldn’t be a case of who shouts loudest or who persists more , or who finds an angle to gain exception

status - we are all the same.

The manner in which the company has conducted itself over the last 4 years is extremely poor. They should be ashamed of themselves. Taking peoples hard earned money and turning it into nothing and then refusing to communicate. Fekin disgraceful !

Looed - as long as the company persists with this “then and us” comms strategy there will be unrest in the FRR camp. No one likes to be excluded.

Does this mean that no operational / business progress has been while all these court cases unfold or are concluded?

So it is effectively 100% focus on litigation??

Vet - what was your feeling after the conversation with AT? Did he seem upbeat and positive or did he simply say all the usual stuff ?

We’ve heard this for years now. If they are negotiating, then get on with it and state your progress.

If they are stalling - then we ought to know why ?

This never ending crap of court case stand offs is just boring now - get round a table and fix things, if that’s the intention!

If it’s not the intention - then what is ?

ever get the feeling nicandros and co are just not giving a **** ! we will arrive at dec 2023 and nothing more will have progressed. i don’t know what these guys do on a daily basis. someone ought to remind him he still has other peoples money! i have but he just ignores. sh@tshow!

Thanks Looed. Great summary