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2023 Reserves and Resources Report (page 4)
https://www.glencore.com/.rest/api/v1/documents/static/a53e27b1-6025-4ef2-9be8-f3be543dfb26/GLENCORE-Resources-and-Reserves-report-2023.pdf
'Glencore is no longer an active participant in the previously-disclosed Zanaga project'...
ho-hum...
GLA
2023 Reserves and Resources Report (page 4)
https://www.glencore.com/.rest/api/v1/documents/static/a53e27b1-6025-4ef2-9be8-f3be543dfb26/GLENCORE-Resources-and-Reserves-report-2023.pdf
'Glencore is no longer an active participant in the previously-disclosed Zanaga project'...
ho-hum...
GLA
AT is listed as a conference speaker, wearing his 'Vision Blue' hat...oh-hum..
https://www.futuremineralsforum.com/conference-speakers/
GLA
I can't believe people still think this will come good !
One of the biggest scams on AIM in recent years.
Amit should be in prison for fraud.
Clinton Dines was on the list of candidates to Vale's board of directors for 2021-2023...
https://epocanegocios.globo.com/Empresa/noticia/2021/03/epoca-negocios-novo-conselho-da-vale-tera-7-membros-com-experiencia-em-sustentabilidade.html
Google translate is your friend. At the end of the article, Mr Dines gets a mention for his involvement with the Zanaga project.
Oh hum...
GLA
Are they slowly building a position here ? Do they know something we don’t ?
It’s the first time I see Oasis Crescent publicly reported as a shareholder (also on Morningstar and Fidelity).
https://www.msn.com/en-gb/money/stockdetails/ownership/fi-aofzc7?fromMaestro=true
Some strong connections with South Africa, Saudi Arabia and the UAE..Fascinating stuff…but you’ll have to do a bit of digging.
‘Oasis Crescent, South Africa. One of the world largest Sharia asset managers. Oasis first opened an office in Britain in 2012 aiming to offer investments to the country’s two million Muslim community’
GLA
Mattradio
In stark contrast to my last post, let me offer a much less optimistic view/possible outcome here.
Some of the scenarios and share price predictions discussed on here in the last few weeks are really fanciful IMO.
We need to be aware of the real risk of losing our mining licence when / if Zioc runs out of money / can’t repay its loan and control of MPD is ‘handed over’ to the government and a new developer/miner.
Marketing Agreement
MPD and ZIOC have entered into a life-of-mine marketing agreement with Glencore International which will take effect immediately prior to Completion, pursuant to which MPD has granted Glencore International the exclusive marketing right for all iron ore produced from the Zanaga iron ore mine located in the Republic of Congo that is being developed and shall be owned and operated by MPD or one of its Affiliates and ANY OTHER PRODUCTION of iron ore from assets belonging to MPD, ZIOC or their respective Affiliates in the Republic of Congo using similar infrastructure, subject to the terms and conditions of the Marketing Agreement and in the case of any PROJECTS ACQUIRED, subject to pre-existing marketing rights.
It’s all in the detail…The ‘new MPD’, cluster of mines in the region, being Zanaga, Mayoko 1 (Sapro), Mayoko 2 (ex Midus). I can see the Obambi family - very close to Nguesso & Co.- heading this.
Glencore won’t lose out. The ‘life of mine(s)’ marketing rights for all the ore produced by the -enlarged- MPD is surely more valuable to them than their shareholding in Zioc.
If Glencore starts offloading their shares in the Summer, as they are allowed to do, then we really need to worry.
I hope I wrong of course but it’s Africa and we’re on AIM..
GLA. Victor Meldrew
(Tin hat on !!)
I can’t believe people still think this will come good. CTAG has been dead for a while . One of the biggest scams on AIM in recent years. Amit should be in prison for fraud.
On several occasions over the last two or three years, Glencore has sold ‘non core’ assets -or stake in them- or provided debt facility against future production, while retaining 100% offtake rights + 1.5% royalty.
CSA copper, Ernest Henry, Santa Cruz silver, KGL resources, CSN Mineracao, Champion Iron, Rosh Pinah and a few others. It’s almost always the same set-up.
The same will happen here. Glencore will sell it’s Zanaga stake - over 30% but less than 50% - to an interested buyer/ developer who in turn will make us a nice offer to acquire the remaining Zioc shares…They might also snap up Mayoko at the same time and develop the two in parallel.
The paragraph on takeovers in the RNS is there for a reason. Offer price: anywhere between 6p and £3…
Disclaimer: I know nothing, I’m from Barcelona ! Just putting two and two together.
GLA, have a good week.
ATIF link:
https://www.atif.net/
GLA
‘Ici do Iron is the operating entity for the Belinga Project. It is held 90% by the Belinga Joint Venture Company, established by Fortescue (80%) and its joint venture partner, the Africa Transformation and Industrialisation Fund (20%). In accordance with the Gabon Mining Code, the Gabon Government will have a free carry interest of 10% in Ivindo Iron’
The Africa Transformation and industrialization fund was created by Gagan Gupta, CEO of Arise IIP…
Know him ?
GLA
An old presentation and the COIDIC bit is no longer relevant but…
https://www.brrmedia.co.uk/broadcasts/5df74f3c1727256b168b6a55/zanaga-iron-ore-an-introduction/
‘We also had some approaches…from some of the entities involved with that bid (Simandou)…
GLA
https://mobile.twitter.com/i/broadcasts/1YqJDoDpMkAGV
So far so good..
GLA
Remember this ?
I wonder if Amit will be attending this year to try and flog a few left over Onitors…Crook.
AT, if you read this..
The shareholdings have been updated on the website but it shows Guava minerals twice and no Glencore projects. Oh hum…
https://www.zanagairon.com/investors/
GLA