Member Info for Mitch984

Over 8 million shares sold in the last seek in batches of 200k to 500k.

Some heavy selling the last two days, which is not good news bearing in mind KPs's past reputation for leaks in the Brad era.

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.

"Mitch your happy with 1.50 to 10p? "

Duster - if you knew anything about the history of this share, you would know that nobody on this board paid £1.50 for their holding.

Duster is typical of the newbie investor that sometimes comes on here without being bothered to read about the history of the company, the current state of the iron ore industry, the past and very recent RNS releases, or previous informative posts on this board.

He has nothing to contribute that medium to long term investors don't already know, so best ignored.

"Could it be in theory that the new buyer/partner is not satisfied with GLEN both having a marketing fee/royalty and on top will earn alot on their shares, so they have agreed to buy XX shares at market price from Glen at low level? "

I'm pretty sure that none of these recent big buys were shares sold by Glencore, as it would have resulted in a TR1 filing. Any shareholder owning 5% or more of a company must file a TR1 and must also file a further TR1 when their holding rises or falls by 5%. (I think I have that correct).

We have not had any TR1s filed from any of the Shard tranches, so its safe to say that none have resulted in any one shareholder exceeding 5%. Also outside of Shard, Glencore appear not to have sold any significant amounts either as they would have had to file a TR1 too.

TR1s are reported through the RNS system and the last one reported for Zioc ("Holdings In Company") was February 2020.

Personally I think the exciting part about today's trade is that the huge 9,243,962 share sale is 99% certain to be to an institutional investor rather than to a private investor. If so, that will be our first major institution holding.

Unfortunately the amount is too low for a TR1, so we may well never know who it is - unless its a fund that has to eventually publish its various holdings. However it might just be known within the industry, and that in turn might prompt some other institutional investors to get involved over the next few weeks.

Yes, Definitely looks like the final Shard tranch has now gone. Including one placing that is the biggest we have ever seen from Shard, which bodes well.

Prices for the placing seem about right too - buyers from Shard will always want a 10-20% discount to the market.

As others have said, with such a high % now tightly held, the price should rise rapidly as soon as we get the much anticipated news of a financial partner and other MoUs, along with the revised costings and hopefully an updated NPV.

Personally I don't think the share price is being manipulated.

Its declining because of the Shard sales. We saw exactly the same happen earlier in 2023 when the share price was on the rise, and then the second tranch of Shard sales brought it back down with a bang.

The same is happening here. Once the final tranch has been sold, we will then see a far more accurate reflection of the share price.

Hi Extrader,

I am also invested in KP2. Personally I think any significant advance in Zioc will be good for KP2, and/or vice versa.

Both need an investment partner and infrastructure work of course, but equally both have a much-needed and in-vogue asset, as you know.

KP2 let their CEO "leave" in November, which I personally thought was a good move as he showed no drive to push the project along. They have not yet appointed a new CEO, unlike Zioc, although they are also waiting on an EPC contract partner announcement, due in Q1.

I'm not sure KP2 will progress as quickly as Zioc, but if I was not already fully invested in both, I would definitely say its worth a modest punt.

I would also be interested in what ATG and Bear have to say too, as I think both hold KP2 as well as Zioc. Either here or over on KP2.

ATB

"what are we missing here?"

We aren't missing anything. This is Africa. The whole scenario of funds and institutions investing in shares of speculative AIM companies whose "assets" are in Africa has changed over the past 15 years. They now don't do it - its outside their risk limits. Until that is, spades are in the ground.

That is why, apart from Glencore who inherited the asset, we have no institutional shareholders.

Things will change once development finance is in place and mine contruction becomes a certainty.

Until then the share price will continue to be driven solely by speculation and small investors like ourselves, with the price kept down of course by the Shard sales. And don't forget, a lot of those small shareholders will sell when they make their 15-20%, just as happened earlier in 2023 when we got up to 17/18p. That also brings the share price down.

LT. I hope you are correct.

Its just that I have never known a Chinese company produce a substantial report like this on schedule. We still have another ten days, so fingers crossed.

LT -I think the timetable has slipped to 1st quarter 2024. This was in the RNS that announced Brad's much anticipated departure:-

The process to reach agreement on Engineering, Procurement and Construction contract terms, and to receive a financing proposal for the full construction cost of the Kola Potash Project, is now near completion and is expected to be finalised during the first quarter of 2024 with construction contractors scheduled to be mobilised during the first half of 2024.

LT - I thyink the tietable has slipped to the first

Excellent news today, but I don't expect to see any rise in the share price until all of the 2nd tranche of new shares have been placed.

After that, it really will be game on!