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Hi again LTB,
I remember that now, but read it more that then would hire mining specialists to draw up plans for the construction, rather than expecting actual spades in the ground.
I may of course be wrong though. However the funding announcement I think will have to come first.
Hi LTB,
I am not doubting you as I may have missed this, but can you point me towards the source of:-
"the Co saying, for the first time EVER (2 days after meeting the Minister), that mine construction starts during H1 23."
If true, that would definitely cheer me up! :)
Typical lazy "research" by Zak Mir. As if Glencore were not already part of Zioc.
And as for "this puts Zanaga on the runway to production, without having the headache that so many of its peers may have in terms of funding."
Why? Glencore will not fund the mine after all. All they want is to distrubute the ore if it is developed.
I certaintly don't take any pleasure about being correct. My main reason was that if a true sale was in the pipeline, there would have been no need for the Glencore/Zioc share deal.
However, as others rightly say, the share sale was clearly done for a reason. My feeling is that a partner will be brought in to finance the early stage small scale construction. And I do not think it will be another big mining company - only because Glencore have the distribution rights.
A true sale may then be several years down the line. In meantime there is still plenty of potential upswing in the share price as and when Zioc bring in partners and/or sign financing/construction agreements.
The pressure I think will be on Zioc to make some definite progress soon - certainly judging by the government's letters and comments to KP2 (Kore Potash). It looks to me as though the government is running out of patience with companies who have mining licences. However Zioc may avoid much of that due to their debt to Glencore.
Lets all hope 2023 is our year!
"Of the 3 business' Glencore listed as "Sale Pending",
Unfortunately I have a feeling that "sale pending" meant the sale to Zioc that concluded last Friday. I'm not at all sure that a sale to a third party is what Glencore meant in their update.
Loose wording I realise, but that is typical of many RNS releases. We have had plenty of ambiguous ones from Zioc over the years!
Yes. Definitely new news, and not good news. There was no mention of a "task force" in the reporting of the government letter sent last month, so this new press report definitely does not relate to last month's letter.
KP2 need to urgently get their act together and take the government's concerns serious. Brad's reply to the government letter clearly did not contain enough detail to satisfy the minister. The government would not risk going to arbitration if they thought they would lose!
It was most likely his accumulation of shares back in 2017/18 that drove the price up to 20p. To get there again we probably need another big buyer, private or institutional, to start building a large holding.
Whatever the news, its only demand for a share that triggers a rise after all. Plus Zioc will be issuing new shares as I understand it to "finance" the Glencore "purchase". So I assume that will be the same as a dilution.
However any announcement related to a finance partner for developing the mine should create the share buying interest that we need for the share price to rise.
20p will definitely test my resolution. Eventually it will be a lot higher than that, but at my age I'm not sure I can afford to wait!
I also would never invest based solely on an Align report.
While the reports do contain some excellent factual information, I just cannot ignore that Align are paid for publishing a research document by the company the report is about - either through an allocation of shares or in cash.
That to me means you can use their basic factual information, but you must do your own extensive research before deciding to invest. Just as 99 and ATG have said.
...I know it was just idle dreams about a teakeover offer of that level, but who is going to make any sort of takeover offer now that Glencore have the rights to distribute the ore?
The only practicak way forward it seems is to bring in a partner with the financial resources to develope the mine. But even then the ongoing profit for that partner (and for ZIOC) is only now going to be whatever mark up they can achieve by selling the ore to Glencore. Which will of course be far less than selling it on the open market.
Having said that, ZIOC would not have done this deal without having confidence that they can find a development partner, so something must be afoot.
"Personally, I think it’s the sale of Glencores holding - but I hope I’m wrong ?? "
I think jv123 has got it right. Glencore's new shares in Zioc possibly being sold to some outside party coming in to partner Zioc in development of the entire project.
If it was a sale of the whole project, I just can't see any reason why Glencore would first "sell" their share to Zioc. I am happy to stand corrected, but I just don't see any logic in that.
Alternately it could just be really poor and lazy use of words by Glencore in describing the "sale" of their shareholding to Zioc as an impending sale. It would not be the first time an RNS has been vague, lacking in clarity, and therefore open to interpretation.
Align Research reports are all paid for by the company the research is done on, albeit in shares of that company.
So, although factual, their reports can hardly be considered totally independent
Having said that, the potential for KP2 IS a fact. Yes, there are risks. And yes., patience is required. But they will not lose their mining licence, despite what Albi may claim.
Some big late sales on Thursday, only reported late this afternoon. Over 2.2 million. Someone doesn't seem to share the same optimism as most of us.
24-Nov-22 16:38:44 4.90 500,000 Unknown*
24-Nov-22 13:07:50 5.275 1,200,000 Unknown*
24-Nov-22 16:27:40 5.051 507,379 Unknown*
Something Zioc and AT have been working on for the past two years I think - moving Glencore out of the equation as much as possible.
I think we can now rule out a sale of Zioc - none of the big mining companies (Australia or China) will want to develope without access to the ore. Similarly financing of the mine by another mining company is probably out too.
I guess that leave private investment to finance the mine? I am sure Zioc must be well advanced with investment options and this is another step along the way.
It wouldn't surpise me to see AT now take a back seat and Johnny Velloza come to the fore, as he is a mining development expert - and it is clear now that Zioc's aim is to develope the mine.
The concern to me is "There are a number of proposed contractual terms that the Company believes now require further discussion before acceptance." and "It may transpire that SEPCO will require further SEPCO and Power China Board approvals prior to the finalisation of the contractual terms."
Clearly there are terms in the proposed final agreement that KP2 didn't expect and were not covered in the Heads Of Agreement. Hopefully this can be resolved, but if either side plays hardball, we could still have a long wait before anything is finalised. Especially if board approval from two Chinese companies (SEPCO and Power China) is required.
I can't see anything being finalised until 2023 now, but at least KP2 have updated us on the reasons for the delay!
Patience is still the name of the game with KP2.