Member Info for millerston

It's not a multi billion dollar resource without development capital.

RAM are offering $150m to kick start the project. They want something in return, 80% of the offtake.

$150M is not enough to bring the mine to production but it may help derisk the project and attract another suitor.

RAM will likely have to trade that 80% for more capital.

It's the only offer ZIOC have ever received.

Reject it at your peril.

None of that is any proof they were "forced" out.

Come off it. Forced out by who?

What is your valuation without the RAM offer, bearing in mind Glencore accepted 4.2p ?

LOL'

"15p valuation is far too low"

3 minutes later...." 15p at end of June, pigs might fly"

Because for the first time someone is proposing to inject real money into the company and NPV is not their metric of choice.

AT commented on it in the Q and A.

They couldn't square an NPV of 400p with a share price of 6p.

Ex,

I cant believe your an ex banker.

Did you pay 156p ?

Why do you think you got your shares so cheap ?

The decision to proceed wont be made till FID is complete.

EX,

Your putting the cart before the horse, there is no throughput.

Plan B is they offer you a 30% premium over the weighted average share price over the last three months.

Moneyman,

You will be less sad when the share price gets to 15p.

Glencore got 4.2p.

NPV is a meaningless metric at this stage of development.

Would anyone prefer a Rights Issue ?

They're giving us 11pps for a share currently selling for 6p.

Of course RAM want their pound of flesh which is 87.5% off the offtake.

Reject the deal and they will come back with a low ball offer for ZIOC.

How low...... very low.

Jv123,

Your first post states this is a bad deal for long term shareholders and your next post states, Aim shares tend not to be long term investments.

At 15p you overpaid.

What's your exit plan ?

Remember, Glencore walked away with 4.2p !

Jv123,

A share price of 15p would be a major win for all shareholders.

I would top slice.

What's your average sp. ?

Hi ex,

Your post @ 03:01.

In your eagerness to trash this deal, you are willing to embrace loss leading and over invoicing.

Further, your happy with associates and affiliates getting a cut of the offtake at concessionary rates and transfer pricing !

That's a p!!s poor deal.

It's a deal rooted in dishonesty.

I admit for 10 years I was seduced by the dreams of El Dorado but reality has hit home. I've sold about a third of my stake for a small loss.

I'm relieved to have salvaged something.

Best spend the weekend planning an exit strategy.

Good Luck.

GGG,

If you were underwritng completion of FID with $15M/$25M what would you seek in return ?

The current share price reflects the current economic value of the asset. Essentially worthless without completion of FID, port , power and pipeline.

The first step is to complete FID and break the logjam.

Are you expecting a counter offer before 30th June ?

Where do you expect the share price to be on 30th June ?

Shaun,

Tranche 1 payments are staged presumably to satisfy RAM that progess is being made to their satisfaction. If not, they wont be contributing another £125M.

Ex,

AT addressed that conundrum.

A NPV of 400p vs a share price of 6p !

One of them was fantasy, can you guess which one.

Dusty,

At this moment there is no offtake.

We promised them 20% in the future if they paid off Glencore.

Look at today's trades, there is clearly no interest in the company at this stage of development, except from "friends, family and associates".

Would you prefer a Rights Issue ?