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Responded here just now

What can I do on here to help?

STOP

Do NOT go to any 'authority' - that would be investment suicide. Even an investigation or enquiry would be terminal.

Do this:

Approach the company, approach their officers, contact the NomAd and brokers. Ask the right questions. Seek clarification and answers. Only when that doesn't work...

Something changed between the end of 2025 and February 10th.

Find out what. That's what I'm doing.

Ooooo and Oh Dear - a fantasist on every level.

Like some others I could mention, you creep around here, read the good stuff without ever acknowledging, take the free research and think you are smart.

Meanwhile, and as a result of today's 'clarification';

We know that Gupta's declared, personal shareholding has gone from 0.00% to 6.17%

EEA's has gone from 10.01% to we know not what - we are not told.

It could be that the 3.8% difference has been sold - we are not told.

It could be that EEA still hold it - we are not told.

It could be that it has been split into several pieces for individual beneficiaries (and hence below the reportable 3%) - again we are not told.

In short as a result of today's RNS we only know what Gupta's personal holding is - hence the clarification RNS.

What we do know is that Gupta has split what is personally his from the collective EEA fund. This, as has been eloquently argued elsewhere, is very likely good housekeeping ahead of transformational news. (I would add it is Tamesis being very professional about a company of which they are stewards).

Now, declaring it as "Gupta sold 4%" in completely unsubstantiated - given what we know and at this point.

Furthermore declaring it as the supply for your (fantasised) holding is logically absurd. Gupta's declared date was 8th December. You claim to have been buying over the past several weeks. You do see the problem, don't you?!

Now we have demonstrated that you are a know-nothing fantasist with a poor grasp of logic can I suggest you keep you half-baked opinions to yourself, preferably on the other board?! There's a good boy.

ChatGPT:

Bottom line: This appears to be housekeeping to correct beneficial ownership attribution — moving from an aggregate/control-based disclosure (via EEA) to personal/direct only — rather than an outright disposal/sale of shares on the market.

The Tamesis Effect

Of note is that Gagan Gupta 'clarified' his holding on 8th December. At 7am the next morning, 9th December, Tamesis were appointed joint brokers to ZIOC. The chairman of Tamesis is a former partner and head of Goldman Sachs' equity division. In another word, professional.

Our Indaba event tomorrow is also very professional as is the new website, twitter campaign, and PR firm.

I have a very good feeling about tomorrow.

MICHAEL DAFFEY

Michael has over 28 years of experience in the financial services sector at Goldman Sachs, the last 18 of those years as a partner. He recently served as Chairman of the Global Markets Division, and a Member of the Firmwide Management Committee. In this role, Michael acted as a trusted advisor for some of Goldman’s most prominent clients. Previously he co-headed the firm’s global equity business based out of the UK.

https://www.tamesispartners.com/the-team

Absolute confirmation that Gupta sold no shares is to be found in Section 2

2. Reason for the notification (please mark the appropriate box or boxes with an "X")

An acquisition or disposal of voting rights. "X"

An acquisition or disposal of financial instruments. "(no X)"

> In other words the clarification of Gupta's position to 6.17%, separating it from the Eagle Eye Asset Holding PTE 10.01%, resulted in his voting rights reducing by the same %, hence the "X"

>> There was no, 'acquisition or disposal of financial instruments', as indicated by no "X", because no shares were either acquired or disposed of.

>>> GUPTA DID NOT SELL 4%. NO ONE DID. Ownership blocks were simply clarified.

......and some wonder why the SP refuses to ignite.

The key take away is that ZIOC are scrupulously tidying up the share register ahead of tomorrow's Indaba event.

This, IMVHO, is likely driven by Tamesis who will be anticipating intense media scrutiny as to who are the owners of ZIOC - likely because of the valuation we are about to be given and then confirmed by substantial inward by investors of some note.

We shall see tomorrow, of course.....

The clue is in the RNS

ZIOC have provided 'clarification' of the shareholding of Gagan Gupta.

It appears that, on 8th December, Gagan Gupta extracted his 6.17% shareholding from the 10.01% previously held collectively by Eagle Eye Asset Holdings PTE.

'Eagle Eye Asset Holdings Pte. Ltd. (branded as Fortuna Holdings SFO) is a Monetary Authority of Singapore (MAS) registered single-family office, based in Singapore with a Branch at Dubai, managing the investment portfolios of the promoter family.'

ZIOC explicitly detail was has happened:

Zanaga Iron Ore Company ("ZIOC" or the "Company") clarifies and confirms that the shareholding previously attributed to Eagle Eye Asset Holdings Pte. Ltd. ("EEA") is in fact held by Mr. Gagan Gupta.

> No shares have been sold to provide this 'clarification '.

>> So anyone claiming that Gupta 'appears' to have sold 4% of ZIOC is either illiterate or stupid.

After Friday's surge up from 7.40, I think today may be the last chance to fill up. (Yes, I know, I know....)

After close of play this afternoon, and ahead of Indaba tomorrow.

Would enable significant market sensitive news to be released at the Mount Nelson.

Then reopen Wednesday morning.

Worth considering....

Muppet.

There's a smoking gun and NOONE else has found it.

After our Strategic is confirmed then you'll get to see it and you'll know who's had it all along.

See ya, loser

The above a result of asking AI to rank all leading DR grade iron ore resources on the following metrics:

Grade, Size, Development Readiness, Availability, and Resource expansion potential. No need to double-check our economics which are already world class, with enhancements to come this week.

With each metric scoring 1-10, Zanaga scored 47/50. Next best?....an Australian magnetite play with 39/50.

For our Offtakers- (who are being lined up) - Zanaga is the unrivalled option to feed their green steel ambitions.

Zanaga vs the Rest, courtesy ChatGPT:.

Yes, Zanaga stands out as the clear leader in the pure DR-grade iron ore space (≥67% Fe concentrate with ultra-low impurities for efficient direct reduction/green steelmaking), particularly among undeveloped or advanced-stage projects with meaningful scale and availability for new partners/off-takers.As of February 8, 2026 (current date), here's why it remains the standout:Unmatched scale and resource overhang: 2.1 Bt JORC reserve supports 30+ year mine life at 30 Mtpa phased production), backed by a massive 6.9 Bt total resource (Measured + Indicated + Inferred, ~3.3x reserve multiplier). The deposit remains open along a 47 km strike and at depth, with >178,000 m historical drilling demonstrating continuity—offering exceptional exploration/conversion upside for potential 50–100+ year life or higher rates (e.g., 40–60 Mtpa long-term)

ULTRA-PREMIUM PRODUCT SPECS: 68.5–69.1% Fe concentrate (ultra-low P ≤0.03%, SiO₂ 1–2%, Al₂O₃ ~0.4%), exceeding strict DRI benchmarks and enabling premium pricing in the tight DR-grade market (4% of global iron ore supply).

ADVANCED DE-RISKING AND VALUE ENHANCEMENTS: 2025 workstreams completed (on time/budget), delivering significant upside: ~$11.3bn potential revenue improvement over initial 30-year LoM (from grade optimizations announced June 2025), $352m capex savings, and $2.24bn cumulative opex reductions. FEED-level design for DRI flowsheet/infrastructure progressed, with updated integrated economics (incorporating all enhancements, logistics, and broader strategy) imminent in February 2026.

STRATEGIC MOMENTUM: Partner process active and progressing—initial investor offers targeted during Q1 2026, with transaction terms announcement aimed for the same quarter. Investor briefing held at Mining Indaba on February 10, 2026 (presentation expected on website post-event). 100% ownership provides full flexibility in a supportive RoC jurisdiction with established government/community relations (e.g., recent January 2026 water well rehabilitations).

COMPARISON EDGE: No other project combines this level of premium grade, massive de-risked reserve, resource multiplier/exploration potential, and near-term availability. Producing assets (e.g., LKAB, IOC) score high on readiness but low on new supply/partner access; emerging ones (e.g., Razorback, CEIP in Australia; Quebec cluster like Hopes Advance, Iron Bear, Mont Sorcier) offer strong specs but smaller scale, earlier readiness, or less upside. Zanaga's base case is already robust (NPV uplift to ~$10–11bn at >30% IRR post-enhancements), with enormous optional value from further drilling/conversion—positioning it as a potential "multi-generational" DR-grade asset akin to how Carajás evolved.

In short, in a supply-constrained niche driven by green steel demand, Zanaga's combination of size, quality, de-risking progress, and imminent catalysts makes it the standout choice for securing long-term, expandable high-grade D

Well, ask him yourself if you want to check. I'll wait....

Next week's event is at the Mount Nelson Hotel, or the Pink Lady or 'Nellie' - universally recognised as THE place to do business at Indaba, and the exclusive high-end preserve of presidents, CEOs and sovereign financiers. (Check with your AI, I would).

ZIOC have chosen this venue. Indeed I now discover that Marty visited Indaba last year specifically to check it out. A 'discretionary spend' that can only be justified with venue-appropriate news.

For the record, I think Tuesday's event will discus major news (NPV update, development options, progress on off taker and lead strategic partnerships) and hence a pre-event RNS will be required. So either Monday or Tuesday morning. We shall see....

Edit. the trade price when the options were written was at 7.40p, the strikes higher up, but the effect is the same.

A very positive move on Friday afternoon which surely is a precursor to major and transformative news this coming week.

Before we move on, Friday's price action almost certainly nails on 'options' as the mechanism behind us being pinned to 7.40p for almost 2 weeks. In fact 7.40p has been magnetic since end-Dec which, by no coincidence whatsoever, was when ZIOC projected material news arriving in 'February'.

First up, the strike was at 7.40p. Several things, Elphick sold at 7.39p (providing a loose fix) and then Mindich (via Everblue) was the very likely buyer of a 9m block at 7.40p on 11th November 2025. Thirdly, and this locks the valuation, way back in 2013 Investec observed that West African iron ore plays, in the absence of funding, were being valued at an EV of $0.04/t attributable. Working the numbers on ZIOC gets us to almost exactly......7.40p. Hence the strike, and magnetic attraction, at this level.

Via various hedging mechanisms an options strike price acts a magnet pull on the underlying share price (sellers above, buyers below). This we have very clearly seen.

As to strategy this scenario: a long ZIOC holder could write (sell) options on ZIOC's upside and earn premium. The strike price/s was likely 9p/10p and perhaps 12p (see multiple resistances on chart). However, and using strict pricing mathematics (Black-Scholes model), this upside risk would need to be hedged by physical shares. However, and bear with it, as we approached the option expiry date (which we can now see was very likely Friday) there was less chance of the strike price being hit and the option/s exercised. Therefore, and according to the models, less hedge was needed and hence it needed to be sold. (In options speak this is called 'Charm' or 'delta decay').

It was this 'delta decay' we saw being systematically 'sold' at 7.40p - our rafts of 'algo' trades.

However, our ZIOC holder was and is bullish and hence provided simultaneous and matching support to the market. Watching in real time this support could be clearly seen by the constant restocking of the 7.40p bid even as it was nibbled away at by the algo sells. This was coordinated, synchronised and matched. No other explanation works.

The net result is that the options hedge was sold out of the options book and into the cash book.

Then on Friday we saw this break and, in my opinion, because the option had expired - the upside was no longer risky, and hence no need to sell any more hedge. The timing aligns perfectly with next week and the Indaba event.

Here's the chart with Friday's break higher very visible:

https://invst.ly/1fb1bk

(For the record large blocks don't need to be finely diced - we see then go through at market all the time, indeed Elphick's and Mindich's at 7.39p and 7.40p. Also, no IIs were lurking below 7.40p. They are not speculators (we are) and require hard news, which we will very likely get next week - then they'll be buyers and we'll know all about it).

7.40p pin has gone. Option expired? I reckon.