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Personally I don't think there has ever been any serious interest in a Zioc takeover, even though many would like to think there has - or still is.
The scenario is that Zioc have had no choice but to push along with development with the mine in the absence of any buy-out interest. And that is exactly what they are doing - and have been for quite a few years - by bringing in partners for the development.
Like Bear, I would prefer a buyout, but its just not going to happen at this stage. Which may be good long term for patient shareholders as development will result in a share price far in excess of an buy out before development.
But I am quite old, so there is unfortunately a time limit on when this share needs to pay off for me! I may well be tempted to sell out at 15-20p despite knowing that patience and a few more years would realise far more than that.
I'm sure that is a situation many long term holders face however.
Yes. Many thanks for that 4kandles. Interesting to say the very least.
All we need now is for someone to pin down AT somewhere. Anywhere. Even a beach in Dubai if he is still sighted there!
The transactions have to be the Shard tranche. I'm sure none of the major holders would be selling at 6.5p when positive development news is imminent.
The sooner we get the two Shard tranches out of the way, the quicker we will see a more realistic share price when a true open market returns.
Be careful what you wish for MM.
KP2 are in a simiar position as Zioc - waiting on an EPC quotation from a Chinese company.
The difference is (I hope) Zioc have better leadership - as Brad Sampson at KP2 was only ever interested in drawing his salary as long as possible.
Did he resign or was he pushed?
Lets face it, Brad was worse than useless at his job, and basically wanted the lack of progress with KP2 to go on as long as possible so he could keep his ridiculously inflated salary.
He owned no shares, and if KP2 is eventually developed it would have meant nothing to him other than him losing his job and being replaced by a specialist CEO more experienced in running an active mine.
Good riddance in my view.
I agree - great work Extrader on the estimation of shares allocated to AT.
I've always felt that a huge incentive for Zioc to get the result we all want is for it to be life changing for AT.
Not for the directors etc, as they already have their wealth. But for AT it will be the same level of incentive as many of us - only AT can actually do something about it!
As sad and as dangerous the conflict is, in my view it has had no influence on the declining Zioc share price. There just has not been the volume - its all been small trades as usual.
The only time it will affect Zioc is if it delays the 4th quarter report from the China company, as that will then have a knock-on effect on the 2024 Quarter 1 plans for the MoUs.
Our sinking share price (again) just shows how much effect pumping can have on an AIM share.
2-3 months ago we reached 17p based purely on rumours and join-the-dots posts by a few experienced pumpers on Twitter and elsewhere.
Yet we recently received concrete RNS news containing the best forward information on mine progress that we have ever had - and what happens to the share price? Literally nothing. Why? Because the pumpers and twitterati have gone elsewhere.
I do wonder if the share price will ever get to the level it should be at. 8p is ludicrous when we are so close to development, but there is still zero institution in Zioc shares. Until there is, the share price will fall and rise according to the whims of the pumpers - if they ever come back.
That's why I eternally hope for a buy out - although its clear Zioc plan to develope the mine. A buy out would keep me away from the whims of the AIM market!
"As stated we have multiple MOUs in place"
They are not actually !in place" at present Driving. They are anticipated for Q1 2024.
That should mean of course that discussions with prospective partners are at an advanced stage, but I don't see any big leap in the share price until those MoUs are actually signed.
I am sure we will see some progress from 10p in Q4 this year when the Chinese company reports back, but we all still need patience in my view before a big rise.
I also do not agree with a few people who claim that a sale is imminent. If Zioc were in talks to sell the project they most certainly would not have released such a detailed RNS about the development of the mine.
A sale may come later next year when MoU/agreements etc have been signed for that development, but at present Zioc's intention is clearly to bring in a strategic partner to finance the development.
Yes, the share price should be much higher. But this is Africa and this is Zioc. Both have had many false dawns over the years. Only signed agreements will get our share price to where it should be.
I can understand why you are disappointed Bear, especially after yesterday's big % rise and a good start first thing today.
However even with the RNS, nothing has actually been signed yet. I was surprised at the size of the rise yesterday as my feeling was that we will only get back to 17p when the re-costing is reported in Q4, and then I expect about 30p when the Memorandums of Understanding come through in Q1 next year.
After Q1 2024 we should have a major funding partner, a construction plan and a route to market. Everything will be in place to be bought out too. Things will look very different 6 months from now.
Like you, I was hoping for a quicker rise after just about the best RNS Zioc has ever released. But we have had no big buyers of Zioc shares for many years and even then it was private investors. That in itself is a reflection of being an AIM share in a country that does not appeal to institutional investors. The share price will therefore move up and down like the proverbial yo-yo until Q1 next year when we have those MoA's in place.
However overall it should still be onwards and upwards from here. I do hope so - I am not getting any younger unfortunately!
I also wondered about MM's disappearance, barely minutes after the RNS last week. Maybe the way forward for Zioc in Q1 next year was not what he had hoped for?
Strange market today with a huge amount of sells. But that is AIM for you. Just as the rise to 17p two months ago was driven by speculative investors and day traders (and unsubstantiated rumours), the huge % rise yesterday must have resulted in many taking their profits today.
I tend to forget at times that us long term holders are well outnumbered by buyers and sellers looking for a relatively quick profit. Still, with the best official news in years from Zioc, I did expect at least a modest rise again today.
I am also very much looking forward to the imminent notification of the share awards, especially to AT.
In my view, the best thing that could happen for us long term and long suffering shareholders would be for AT's share award to be potentially "life changing" for him. What an incentive that would be for him to push for a sale rather than the impending development!
Having said that he would probably still do quite well (if he sells his shares) from what surely must be a decent rise in the share price after the Q1 2024 MofUs are all signed.
Either way, the share awards will definitely give us an indication of what the board think Zanaga is worth over the next few years.
I might be wrong, but I thought AT has been receiving shares instead of salary for quite a few years?
At least I seem to remember that being passed at an AGM several years ago, although I have never subsequently seen an RNS showing how many shares had actually been allocated.
"I assume that any rail route from Zanaga might be half the distance of Simandou's, will need fewer than 235 bridges and may not need tunnels of up to 11km length. Makes me wonder why Zanaga does not yet have a similar development plan. "
Makes me wonder why anyone would develope Simandou when Zanaga is available.
Oh. I forgot. Glencore. They are still the thorn in the backside of Zanaga. No other ore company will get involved in Zanaga while Glencore still holds the distribution rights.
Zanaga would have either have been bought out or would be a producing mine now if Glencore had never been involved.
There is no such thing as a "paid" deramper, or indeed anyone who is "short" on KP2. This is a very minor AIm share with a small turnover that has no middle-men or market-maker involvement at all. There is no money in it for them.
Albi just has an interest in this board and a subconscious need to eventually be proved right. He's not invested, never will be invested, and is therefor not deramping - either for himself or anyone else.
He has an opinion, which he has every right to express on here. However nobody should be influenced by what he has to say - or indeed by whatever anyone else says opinion-wise on this board. Just do your own research. Links and leads to do that do appear in the this forum occasionally, like Beardozer suggesting a lokk at the Zioc board for info on waha is going on in the country as regards the port and other possible inward investment/development.
Meanwhile it is just best to ignore Albi's posts and not respond to them. That won't stop him posting occasionally, but it will stop him reacting with more posts. He is only here for an argument and a need to eventually be proved right.
"I'd rather read what's in your waste paper basket than anything MM posts! All that "research" and "joining up the dots" and where are we? "
Part of me agrees with you Bear, but without MM and Extrader's posts we would not have had a brief period at 14-15p a month or so back. Indeed, in my view, without their posts we would be back at 2p right now.
This is AIM. The share price goes up and down based on forum posts like these, especially when the company itself doesn't release anything positive any longer outside of the statutory updates.
As a result, if it wasn't for MM/Extrader, I'm not sure I would have picked up on AD ports involvement in Point Noire. Yes, the references to Vale and Saudi are purely wild speculation, but there is no doubt things are moving in a positive direction within the country.
Whether this will have any effect on Zanaga, in my lifetime at least, remains to be seen. In the meantime, as you have always said, ZIOC is a binary bet. Just like most AIM mining shares are.
Personally I would be quite happy for joining-the-dot rumours to get us up to 20p, as I think I would then sell and spend the proceeds while I still have the chance. I've paid my dues and waited long enough! LOL.
Look. Any long term shareholder here knows that MM and Extrader's posts are pure conjecture at this point, but they do consist of very useful research into the different directions Zioc may go in the next few years.
For that, I for one am very appreciative of that research, and I definitely do not consider it to be ramping in any way, shape, or form.
However personally I will never get excited unless I see official news from Zioc, like the China company news in the last RSN. Zioc's huge potential is undeniable, and it will pay off one day. When they day will be is anyone's guess, but until then I continue to find MM's and Extrader's posts both interesting and informative.
From today's RNS:-
"In accordance with the ASX Listing Rules, the Company will also lodge its cashflow report for the Quarter today. Included in those cashflows are non-executive directors' fees and the CEO's salary of US$198,000 settled in cash."
If this means Brad Sampson's salary is $792,000 a year, there is your reason why this project moves along so slowly. The longer it takes to come to fruition, the longer he keeps his salary. New owners or financial investors would most likely bring in their own CEO.
The Chinese are notoriously slow to deal with and there is no guarantee they will not suddenly lose interest, as happened with the Chinese COIDIC Memo of Understanding with Zioc a few years ago.
However with the renewed Chinese connection with Zioc and other developments in the country, I think finance will eventually be found for Kola.
When though is entirely another matter....