Member Info for Mitch984

Not sure Vale will be in the picture AWS. I just can't see another iron ore company coming in alongside Glencore when Glencore hold the distribution rights.

A JV with the Chinese is my bet, with an outside chance of middle east involvement too.

An outright sale is not on the cards - not yet anyway. We will develope first

I know with the rise in middle-east rumours, talk of Chinese financial involvement in Zioc is not as strong as it was - but what is the general view now China are heavily involved in Nabemba-Mbalam?

Along with their financial involvement in Simandou, would they really want to add Zioc too?

Personally I find it crazy that Nabemba-Mbalam (with the litigation issues) and Simandou (with the crazy cost and logistical problems) are further along the line than Zanaga.

"Nobody forces you to come here, Mitch."

I was not being in any way critical MM. I was actually stating the obvious - if we are bought out (as most of us hope will happen), it would most likely be the end of this forum. As ZIOC would not longer exist on AIM.

"Very soon you will all be a distant memory :-) "

Hi Eddsy,

Yes, I certainly would not disagree on that! A buyout and the end for this board would be in everyone's interest! :)

Eddsy. That was the most ridiculous post I have seen on this board for some time.

Both Extrader and MM do excellent research that many of us do not have the time to carry out. They do not de-ramp as you seem to insinuate, nor in my view do they ramp.

Rather than criticising their posts, how about doing some research of your own?

MM - ignore my post. For some reason I read the date as 31/12/23 - not 2024!

That makes more sense!

"The BoD are looking for authority to Buy In up to 95m shares. This will be for a situation in which out Strategic Investor has bought in ('paid to play') and the BoD figure the SP is below the new NPV. At the £1.54 IPO price and 95m shares that would be £145m ."

I'm puzzled MM, but I may not have the required level of understanding here. Resolution 10 seems to say that the max price can only be 105% of the current share price. So that would be only around $6.6 million.

I just can't get my head around what this could be for.

Excellent post LTbeliever, which I fully agree with.

And it is good to read too someone else saying - as I have always felt - that Brad was sacked! Should have happened months before it eventually did.

I don't recall the Game Changing New Coming Soon headline, always, so I may be way off the mark here.

But could the game changing news have been the football world cup being awarded to Saudi for 2034 and the new stadiums that will be needed, similat to Qatar?

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.