Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
MM. As always I bow to your superior knowledge. Not sure why Zioc bothered appointing a CEO, when they could have hired you for I suspect much less. :)
All I am saying is that everything is speculation until it is confirmed by RNS. That means all we know at present is that both companies have appointed CEOs recently and both are scheduled to announce strategic partners by the end of April.
Whatever you say, and however reasoned your arguments are, everything else is speculation as regards both Zioc and KP2 until it is officially announced. Personally I think both will be Chinese dominated projects, but I honestly don't give a toss as long as one or both emerge from their long-standing inertia.
We should all know in another 3 or 4 weeks anyway, so lets leave it until then.
MM. The relevance of KP2 to Zanaga is that it is the only other new mining project close to development that will use the port. That will speed up the development of the port and has probably already had a big influence in AD Ports involvement.
Of course the demand for high grade ore in the ME and indeed worldwide is also relevant, but I stand by my point that there has been absolutely zero evidence so far of any other country's involvement in the Zanaga project apart from the Chinese. Everything else is pure speculation, as you know. Well researched speculation I agree, but until we know who our strategic partner is and what arrangements are made with Glencore on the distribution rights, it remains speculation.
KP2 appointing a CEO and being on the same timetable as Zanaga for announcing a strategic or financing partner for development of the mine (by end of April), and therefore increasing potential use of the port, is news that can only be positive. AD Ports are developing the port to make money after all, not as a social gesture.
That is why the two projects have a strong connection.
Cmon Eddsy, that is a bit harsh. Its hardly ramping. It is news.
Two major mining developments in that part of the country, both dependent on port developments to export their products, both heavily involved with China companies, both awaiting imminent financing partner news, and with the KP2 news on Wednesday, both having recently appointed CEOs.
Surely news from one company is therefore relevant to the other? And the KP2 appointment of a CEO is news - not speculation about ties to SA, UAE, Brazil, and others. However if you prefer the latter ahead of real news, then ....
"She was doing due diligence on in country and on the ground business conditions. 100%, and 100% that her findings feed through into the Chinese EPC engagement at Zanaga."
...and most likely relating to KP2 as well, which also will most likely be a Chinese dominated project, just like Zanaga.
There have been over 11 million shares showing as buys since Wednesday 27th March though.
No idea if these have anything to do with the shares the directors agreed to take up in the RNS however. I don't think so, but I'm sure someone with better knowledge than me can advise?
Spot on, Driving.
With KP2 also seemingly close to announcing financing, its going to be an exciting year for the country too. Once the port is developed and Zanaga and Kore Potash are in production, it will be a huge boost for their economy - even though all are realistically 3-5 years away from being fully active. Denis' legacy possibly?
Agreed Driving.
We are getting closer and closer, and if today's buys were not directors taking up the new shares (which I don't think would be reported here), then the buys were definitely from insiders.
KP2 has always leaked like the proverbial sieve, and I don't think that stopped when Brad was disposed of.
Despite the majority showing huge disappointment, it was the RNS i exoected and we are getting closer and closer to development.
I cannot see anything to be annoyed about. The board have had no interest is selling Zanaga, and have always wanted to develope. And that is exactly what they are doing.
Despite mentions of SA, UAE, Brazil, Japan etc etc, I've always felt Zanaga will be a China dominated project.
I have zero problem with that. My only concern is that China will move very slowly with Zanaga due to their heavy involvement with Simandou.
We need to remember we are dealing with the Chinese here - and they never move quickly, or even in accord with previously suggested timetables.
As LTb says, it will be another 2-3 months before things become clearer. The key is not just the EPC - its the financing proposal. And I really do not think the Chinese would have taken things this far if they weren't 100% sure they could proveide the financing.
It will be the terms though that will be key for shareholders like ourselves.
And for anyone thinking the CEO leaving was someone deserting a sinking ship. You are wrong. He departed because he was holding back the entire project.
"As usual...alwayshoping.
""""Several partnerships between the private sector and PIF and its portfolio companies are expected to be concluded and announced during the forum.""" "
but Always, i think that relates to partnerships within Saudi, just like those announced at the 2023 Forum.
I hope you are wrong and we get a blockbuster announcement, but I'm not hopeful.
The good news will come when, or after, the result of the China company costings is announced - and that will not be at the Saudi forum in my view.
Are we certain this Forum is going to be relevant?
Last years forum was all about investment within Saudi, not direct international investment - although the two are often linked of course.
We have no specific info that either AT or Marty will be at the Forum, apart from a vague comment from AT in his top table discussion earlier this month that he will be in Suadi again in February. That speech was made with his Vision Blu hat on.
While I am certain that good news is on the way, I just can't see a solid connection at all with this upcoming Forum. Yes, there may be a Saudi involvement in Zioc at some stage, but I have a feeling this will mainly be a Chinese dominated project.
Either way, lets hope we really are moving forward at last. All the signs are positive.
"This of course is a potential point of contention with Glencore who, as a result of the ZIOC merger agreement, have 100% of the offtake rights to Zanaga ore over the life of the mine. "
Here, in one sentence, is the biggest impediment ZIOC and the CEO are trying to overcome in bringing in strategic investors.
Glencore are still the thorn in the side of ZIOC, as they always have been.
I wouldn't place too much credance on AT saying he will be back in SA in February. He was there and was speaking when he said that as a reprentative of Vision Blu.
It would mean a huge amount more if Marty or Velloza said they would be back in February! Fingers crossed!
AT is there mainly to push Vision Blue, although one would hope he has taken time to take part in discussions with potential partners.
My feeling though is that Marty Knauth and Jonny Velloza are leading things for Zanaga now. Most of AT's time this past two years has been spent on Vision Blue anyway, so AT not playing a big part for Zanaga in Saudi will not be the factor it might have been in the past.