Member Info for Mitch984

Its more likely to be another fund raise rather than run out of money and ceasing to exist.

However the recent largish share sells does not bode well. KP2 has always leaked, with big buys preceding positive news and big sales preceding negative news.

Yes, I agree that there are realistic and potential solutions to the Glencore situation. However the point I was trying to make that it is an added complication that in my view is a valid reason why a strategic investor has not yet been announced.

If Glencore did not have distribution rights and just had the minority shareholding, we would either already have that strategic investor - or would have been bought out. Tho distribution rights have meant there is a third party involved - and that always complicates matters and slows things down.

All speculation of course. With the total silence from Zioc and their appalling lack of contact with shareholders, all we have to go on is MM's commendable AI questions.

For me, what is slowing things down and is also an impediment to progress, is Glencore.

Any potential strategic investor would invest because they want the iron ore. But Glencore have the sole distribution rights to the ore.

So while Zioc would possibly accept just about any strategic investor willing to put up the funds, that investor still has to come to an agreement with Glencore. Yes I know there are some safeguards in the agreement between Zioc and Glencore as regards distribution, but Zioc's claim two years ago that the Glencore deal put Zioc in sole control of their destiny was a bit of a fallacy.

It doesn't - any strategic still has to negotiate with Glencore to gain access to the iron ore their investment is paying for.

99. Are they definitely all buys?

If so, that is promising.

...but its still 5 million and 3 million+ shares dealt both yesterday and today. The largest volume for some time.

Its not 100% clear from LSE whether they are buys or sells, but either way something is afoot and news should be imminent

Boom or bust. Place your bets!

Anyone with more understand than me know whether the myriad deals today showing as "Unknown" (nearly 5 million shares in total) were buys or sells?

Hi Beardozer,

"The scary part! And almost certainly why Mr Market thinks 5p is the right SP for ZIOC at the moment."

The answer to that is simply. The Zioc share price is determined entirely through buying and selling by small investors like ourselves. There are no, and never has been, any larger institutional investors interested in this share - so there is no "Mr Market". The share price is determined by computer based on the day's share transactions.

Without regular buys from institutions (rare on AUM and even rarer with an undeveloped mine in Africa), Zioc rises and falls based on small investor transactions. Increased buying based on rumours, pumping, RNS news etc and the price rises. No news results in small investors selling when nothing happens. Look at the various rises and subsequent falls over the past few years.

For a realistic and sustainable share price, we will need construction to start - or a buy-out of course. At my age I really need it to be the latter. Please!

I don't think any good news directly affects Zanaga any longer. (:

Not entirely sure, but I think this refers in investment in the DRC rather than our Congo?

The few sections that are new in the RNS are very poorly written in my view, as though they came from someone for whom written English is not their forte. Baldrick perhaps? That is not untypical for AIM however.

I take the reference to no plan B as being that a plan B is no longer necessary. While that does leave KP2 basically 100% reliant on the Chinese, that has probably been the case all along.

As regards where we are - in the hands of both sides' legal teams - its virtually impossible to determine a timescale when it gets to that stage. Legal teams are not known anywhere for their speed, especially if they are charging per hour!

With KP2's history of leaking, I am sorry to say that 6million shares being sold within 45 minutes is not a good sign at all.

Anyone have any idea of the answer to Vet's question earlier:-

"Who is the management person who left the company?"

I'd also be curious to know too.

Driving - I so hope you are right.

I'm getting older by the hour, and my investment was not supposed to be for several generations of offspring. :)

MM

Your comment please on ATG's post on the other board as its seems to totally counter your own conclusions:-

29 July 2024 "During a visit to Brazil, Saudi Minister of Industry and Mineral Resources Bandar Al-Khorayef discussed with officials of the Brazilian mining giant Vale, the company’s expansion plans in the Kingdom and opportunities for cooperation in developing the Carajas mines in the Amazon forests, which produce over 300 million tons of iron ore annually."

https://english.aawsat.com/business/5044894-al-khorayef-discusses-expansion-plans-brazilian-mining-giant-vale-saudi-arabia

Excellent research Extrader, as others have said.

I am not at all sure the Substantial Share Interests at https://www.zanagairon.com/investors/ can be up-to-date.

Everitt is shown at #3 with 17,270,000 (2.56%). Surely there must be others apart from Glencore and Guava that have in excess of 17,270,000 after the Shard tranches and the 14.4 million block sale?

I'd take 20p on Monday just to get out of this waiting game. Yes there might be huge profits in another 5 years, but I might not be around for another 5 years!

Not sure if anything can be drawn from this, but I kept a few screenshots of the major shareholders as declared on the Zanaga website. Unfortunately I have a four year gap between May 2020 and now, so not sure when some of the bigger holders disappeared from the list. As a result, I have no real conclusions other than Glencore are still very much in control based purely on shares in issue, and we might expect the 14.4m block sale to appear in the list at some stage?

Current (July 2024):-

Glencore International AG 290,843,718 (43,17%)

Guava Minerals Ltd 79,907,592 (11.86%)

Keith Everitt 17,270,000 (2.56%)

May 2020:-

Guava Minerals Ltd 80,252,952 (28.05%)

Keith Everitt 19,814,072 (6.93%)

Julian Higgins 14,150,000 (4.95%)

Feb 2020:-

Guava Minerals Ltd 80,252,952 (28.05%)

Keith Everitt 17,022,062 (5.95%)

Sertiza Limited 13,275,334 (4.64%)

Julian Higgins 11,599,307 (4.05%)

AI Holdings Limited 8,706,621 (3.04%)

May 2019:-

Guava Minerals Ltd 80,252,952 (28.34%)

Keith Everitt 17,022,062 (6.01%)

PKC Capital Limited 16,971,041 (5.99%)

Julian Higgins 9,645,051 (3.41%)

AI Holdings Limited 8,706,621 (3.07%)

"Surely Zanaga is a no brainer with the figures quoted for Simandou!!"

Zanaga has been a no-brainer when compared with Simandou for at least the last five years, but here we are in 2024 with still no clear sign of Zanaga development and with Simandou ready to get underway.

It has never made sense to me, and still doesn't.

If "Mr Knauth did not know / was not told that he should not talk to press / analysts in the 30 days (close period) prior to the annual results being announced" is correct, and Marty really did not know this, then it could be said that he should be nowhere near a CE position, never mind being on the board!

The havoc his podcast caused along with the subsequent press article (assuming he was the "insider") cannot have gone down well in the eyes of the Zioc board.

I think those late Friday big buys are all part of the share subscription in the RNS, which did say had been completed. It also mentioned both new institutional and high net worth investors, so my guess is that the buys were from that direction.