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*phased EXIT of us lot....

I think you're right, yogiananda. The phased entry of the Strategics, and phased entry of us lot and Glencore, makes sense given future variables - not least the true size of Zanaga that can only be accurately valued after a new drilling campaign (surely to be one of announcements and part of our briefing on 11th Feb). A special dividend seems likely, and that windfall will allow to me to keep my ISA shares and perhaps resist the urge (however sensible) to top-slice on news. By far the majority of my stake is in my SIPP, sheltered from tax and capital gains. However.....any jump to NPV-derived SP (£4-£10 depending on phases of deal structure) would blow out any hope of accessing my spoils without paying swingeing taxes on income from the SIPP. All praise to successive Chancellors and the UK's massive black hole of debt.

What if....one of the 'inflection points' is President Nguesso laying a foundation stone later this month at the Sounda Dam hydro site?

What if......the Sunday Press got a whiff of a pending Zanaga development deal, prompting ZIOC into the impromptu intraday RNS of yesterday?

Time Trade Price Volume Value

14:47:37 8.52 1,163,693 99.15k O

09:37:00 8.00 1,200,000 96.00k O

09:35:50 8.00 573,405 45.87k O

09:06:34 7.95 1,997,000 158.76k O

Remember back in June when the gameplan slipped out?:

"Several companies are reportedly interested, ranging from those considering a consortium stake to others looking to acquire Zanaga entirely. Although there is no formal deadline, a deal is expected within a few months, according to an insider."

https://www.thisismoney.co.uk/money/markets/article-13563755/SMALL-CAP-IDEA-Zanaga-Iron-Ore-48m-company-multi-billion-pound-asset.html

Just ticked at the end of an auction

Well, as Trahar said:

We now have a string of announcements planned for the early part of next year that we are going to be hitting milestones on and getting into the public domain for our shareholders.

A string of announcements

....next week

Hi Bluepanther. Hard to say, and of course every buy is also a sell.

The 2m went through at the market bid and was reported in almost real time, strongly suggesting that the brokers have significant demand.

Indeed, since it went through at 7.9020p the brokers have been bidding 8.00p+ when asked direct.

I have a hunch that it cleared the residual stock around 8.00p and hopefully we are now clear for 10p.

We shall see, of course.

Blockbuster

09:06:34 2,000,000 shares at 7.9250p for £158,500

Yesterday's RNS in plain speak:

ZIOC intends to update to shareholders on the strategic partner process and further info on Zanaga development plans. As a result shareholders will be briefed in London this 11th Feb.

Some observations:

1. The Company released this RNS within the first trading day of the new year. They didn't even wait until their usual 7am slot of this morning, suggesting some urgency.

2. Progressing the project now means money and commitments and, this being so, the Strategics must come out of the shadows and our relationships become open.

3. The Strategics are global names with their own specific corporate agendas and timings. Thus ZIOC must be in synch and agreement with their schedules. Yesterday's RNS must be under approval and coordinated.

4. The intention is to detail the 'strategic partner process' and **THEN** brief shareholders. Logic implies that there will have been coordinated announcements from ZIOC and the Strategics prior to the 11th Feb.

5. Zanaga is of such size, grade and industry impact (both market and corporate) that development news and Strategic involvement will make a significant splash in the media.

6. ZIOC will want to put their own guidance and even spin on the media splash, hence 11th Feb event.

Finally, the 11th Feb is a 'briefing'. Key word. Not inform or notify or announce. A 'briefing' is defined as information that is given to aid decision making before an event or action.

> This implies to me that ZIOC shareholders are to be briefed on the strategic process before they are asked to do something........i.e. VOTE.

RNS, 'Today 14:55'

Why not the usual 7am?

'...We now have a string of announcements planned for the early part of next year...'

Hmmmm

Larger buying towards the close just reported:

2x 250,000 at 8.09p, one at 16:13 and the other at 16:25.

We were given a 7.86p close, the best since late April, fair enough considering the days VWAP was 7.87p.

However.....tomorrow is another ball game entirely.

Hi Aberdeenman, I think over the next month ZIOC will move 'off AIM', by which I mean that the involvement of our Strategics will kick us upstairs to the realms of the iron ore majors (Vale and Rio), global steel powerhouses, (Boawu and Nippon etc), and SWFs and their investment vehicles, for which we all think of PIF and Manara Minerals. Inevitably and deliciously this will mean we are written up in the FT, Reuters, Bloombergs and the industry press, and mentioned in the same breaths as Simandou.

Our forward trajectory will see step change from AIM. This being the case, 'Zanaga' will also presented as a major corporate asset for our Strategics. 50mtpa of 67.5% DR-grade iron ore pellet feed is quite simply a massive asset and one on which future corporate strategy can be built - not insignificant even for the likes of those majors I suggest above.

That said I do not think ZIOC can be bought out at this point, and nor do we want to be. The huge rusty elephant in the Congolese jungle is the ultimate size of the Zanaga Resource. Less than 1/3 of it is currently proved to JORC Reserve confidence, and on which the NPVs are derived. I think our incoming Strategics will be obliged to fund (wholly or pro rata) a fresh drilling campaign that brings the Resource into Reserve status, *plus* starts at the 50% of strike that is untouched so far.

How Clifford and the Board structure the incoming relationship with the Strategics to account for such factors, I think, is what the Investor Day will be primarily about.

That and mutual back slapping over the surging 3-figure SP and our proposed special dividend.....

The company's December messaging was spot on.

Brilliant.

Our Strategic Investors' interest is now locked and loaded.

The key implication is that our Strategics (for which think globally significant mining and steel names) will themselves be announcing their involvement with Zanaga.

Think Simandou...and then some on grades.

Zanaga can be developed 50mtpa, with a combined pellet feed of 67.5% Fe, which is well into DR-grade territory.

Our messaging will be done by others.

Fantastic news.

Which means that within the first working day of 2025 our incoming Strategics have green lit the process.

Amazing.

ZIOC anticipating significant industry interest to which they will respond with an investor day to brief us lot on what it all means.

And so it begins.....

Zanaga Iron Ore Company Limited ("ZIOC" or the "Company") (AIM: ZIOC) is pleased to announce that the Company intends to provide an update to shareholders on the Company's strategic partner process whilst also providing further information on the Zanaga Iron Ore Project's development plans.

> Which means that between now and 11th February our Strategics will be revealed ... BOOM

Today 14:55

RNS Number : 9711R

Zanaga Iron Ore Company Ltd

02 January 2025

2 Jan 2025

Announcement of Planned Corporate Update and London Investor Event

Zanaga Iron Ore Company Limited ("ZIOC" or the "Company") (AIM: ZIOC) is pleased to announce that the Company intends to provide an update to shareholders on the Company's strategic partner process whilst also providing further information on the Zanaga Iron Ore Project's development plans.

As a result of the planned corporate update the Company will be hosting an event in London on Tuesday 11 February 2025 to provide a briefing to its shareholders (the "Investor Event").

More detailed information on the Investor Event will be announced shortly.

https://www.lse.co.uk/rns/ZIOC/corporate-update-and-investor-event-687vgktgajxezsy.html

The 'early part of next year' begins in 2 minutes:

"We are very, very well-positioned now to move forward on a number of execution milestones that we've lined up in the early part of next year. ... We now have a string of announcements planned for the early part of next year that we are going to be hitting milestones on and getting into the public domain for our shareholders."