Member Info for Mitch984

Moneyman has a point though. The rise to 18p a year ago did not result in a handbrake RNS, yet the rise last week did.

We all now can see why.

The trades are all at 5.25, so definitely related to the share subscription info in the RNS(s).

Agreed LT.

I did find this part interesting though:-

"...through the proposed issue of 91,802,637 new ordinary shares of US$0.001 each in the Company ("Subscription Shares") to certain existing shareholders as well as new institutional and high net worth investors at a price of 1.1 pence per share "

"new institutional and high net worth investors" has to be a positive, especially the new institutional investors. They do not get involved unless they are certain a project is close to going ahead.

We will have to agree to differ Shaun. You think the RNS was deliberately vague and they are actually very close to arranging a strategic partner. I read it as they are still only at the presentation stage with potential partners. Hopefully the Annual Results next week will provide more clarity. However my reading of the RNS does not justify being called an idiot.

I do agree with you on one thing though. Marty in his podcast gave a definite date for FEED to begin (Q3). We can't proceed with FEED without financing and a strategic partner.

All any of us on here are doing are trying to make sense of a very contradictory week with Marty's podcast, the press article, and the denial RNS.

Shaun, instead of calling people names, how about offering your opinion of where Zioc currently is after the podcast, press article, the RNS, and T3.

Plenty there that should allow you to express an opinion, but of course you don't. You just attack everyone who takes a view. Easy to do.

Personally I hope I am 100% wrong in mine that we could still be two years away from realising some value for our shares. If you would kindly share your own opinion, then this coming week may well give us both an indication where the share is going. It is, after all, a discussion board.

So, what is your view?

I'm more in Bear's negative frame of mind at the moment sadly. We have had way too many years of thinking there is nore going on behind the scebes than has been revealed through official channels. So far, we have never been correct about that.

Zioc's RNS's are always poorly written, as as a result we analyse every word. In this case:-

"...but is not currently in active discussions around a transaction of any nature at this time."

cannot be looked at without:-

"The publication of the Company's 2024 Feasibility Study cost update in March 2024 resulted in a number of potential strategic partners engaging with the Company to better understand the Zanaga Iron Ore Project. These discussions remain at an early stage and there can be no certainty that any transaction will materialize."

That is pretty clear to me. They are at the same stage as they were months ago - pitching the project to potential strategic partners. And not making great progress by the sound of it. Which is why T3 has been announced.

Hopefully the Annual Results will update us all.

If anything was truly imminent, there would have been no need to arrange anything further with Shard after T3 was activated.

It will be interesting to hear how Marty explains his podcast announcement that FEED will start in Q4 this year when they clearly have no strategic partner in place to pay for it.

All I can think of is that any strategic partner who has showed interest is ONLY willing to pay for FEED, and not the general running costs of Zanaga. That would explain the need for another Shard facility, and would explain Marty's other podcast statement that a decision on full construction and financing for it will not be made until AFTER FEED is completed in 2026.

That would leave the company having to pay their own running costs (MK, AT salaries etc) for another 18-24 months, and hence the need for another Shard facility.

Either way, we are all still a lot further away (once again) from seeing a decent share price than any of us considered even a few months ago.

Nobody is accumulating Oily, just as NKOTB says. They are all existing long term holders adding to their holdings, or day traders speculating.

100k of shares is not a big buy anyway, just as the various matching 100k sells that have appeared this past week are not big sells.

I also like your version always, but I think it has to be ruled out by this part of the RNS:-

"The publication of the Company's 2024 Feasibility Study cost update in March 2024 resulted in a number of potential strategic partners engaging with the Company to better understand the Zanaga Iron Ore Project.. These discussions remain at an early stage and there can be no certainty that any transaction will materialize."

If they already had an agreement with anyone on anything, they would not have been able to include "discussions remain at an early stage and there can be no certainty that any transaction will materialize.".

The Oman Investment Authority are already one of the two largest shareholders in KP2, and therefore have always had the right to nominate someone as a Non Exec Director.

Today's RNS therefore should not be taken as an indication that financing will come from the OIA. That will come from China in my view.

"The purpose of the RNS (IMHO) is to stop the share price rising at 20% a day."

But why? There was no RNS when the share price rose to 18p within three weeks last July/August because of the Saudie rumours.

But how, 99, are we expected to begin the FEED stage in Q3 of this year - as Marty stated in that strange podcast - when we are not currently in discussions with anyone, including a strategic partner who we need to be able to pay for FEED.

The "not currently in discussions with anyone" in the RNS works as regards refuting the article, but seems to contradict Marty's podcast from a few days earlier.

Exactly NKOTB.

The buys yesterday that caused the share price rise were mainly small buys, mostly from day traders who spotted Zioc's position on the risers' list and jumoed in.

They will all sell today, and we will most likely end up down an equivalent % to yesterday's rise. Its of new consequence though - this is AIM and this is Zioc.

We all know that, withiout RNS news, the Zioc share price rises based solely on rumours (like the Saudie push last year, which had no basis in fact and which was not even deemed worthy of a denial RNS by Zioc to explain the share price rise)

We will only get a price rise that sticks when Zioc issue a positive RNS about a strategic partner. Until then, the last two days share price movements are so typical of Zioc. The difference this time though is that it was caused by the company itself rather than by unsubstantiated twitter/social media ramping!

"Like others I am bewildered by the events of the last week. We get minimal input from the company, then we suddenly get two detailed communications within a week, just before the annual results. Both Elphick & AT (ex JP Morgan, who 'never' make these errors) are longstanding corporate finance professionals who know the rules & the boundaries: yet we end up in this situation with the humiliating retraction RNS. It was clearly for a purpose but what?"

What is clear to me is that AT now plays a minimal role in Zioc, with the majority of his time spent on Vision Blue.

This total mess is not an AT mess. If he was still in control of that side of things, it would not have happenned.

This is 100% Marty - which fills me with no confidence at all. Deliberate, or icompetence? Take your choice.

"At the moment they are discussing FS with interested parties. But, they have not received any offer for the project yet. "

Not according to the RNS yogi, which says:-

"....but is not currently in active discussions around a transaction OF ANY NATURE at this time."

So basically Marty has presented his case in 5 countries this past few weeks, and got no interest from any regarding being our strategic partner. Which makes his assertion in the podcast that FEED would begin in Q4 slightly laughable.

"The company release a speeding ticket because of 11 trades worth only about 16k. Never seen anything like it. It's not the trades/volume that caused the rise, the MMs hiked the price for their own gains."

Wrong board CCC. There were 100 trades today on the AIM listing for ZIOC - see

https://www.lse.co.uk/SharePrice.html?shareprice=ZIOC&share=Zanaga-Iron

ATG I very much hope you are right and I am just overreacting.

"The RNS is back side covering for market rules and a public front. The actual situation is highly different as our dear CEO alluded to.."

...but the company cannot state a deliberate mistruth in an RNS. So if they state "but is not currently in active discussions around a transaction of any nature at this time", then that has to be the exact situation.

It depends on what they mean by "transaction" whether it includes bringing in the much anticpated strategic investor.

I have spent way too many years thinking that we all must be right - and something is going on behind the scenes. When in fact, nothing was/is going on.

I fear that is still the case. And that Marty is just incompetent as regards PR.

ATG - this was the summary posted of the podcast:-

A few dates mentioned starting around 32mins;

Currently tying up a series of partnerships (technical/financial) to support FEED.

FEED phase commencement late 3rd quarter 2024 duration c. 15mths.

Financial investment/construction decision middle 2026.

Early works commencement and construction by end of 2026.

Commision Stage 1 first half 2030.

Stage 2 commencement around 2035.

Clearly from this evening's RNS, Marty was lying about:-

Currently tying up a series of partnerships (technical/financial) to support FEED.

FEED phase commencement late 3rd quarter 2024 duration c. 15mths.

as the RNS states they are not in serious discussions with any strategic partner, and without a strategic partner, they can't afford the FEED phase.