Member Info for Mitch984

"0.53p !. Aside from any T/O KP2 won't move. Delist more likely here."

What new low Albi? The price finished unchanged - as it has for many days now. And the Delist claim is total rubbish too, as you well know.

I am also very much looking forward to the imminent notification of the share awards, especially to AT.

In my view, the best thing that could happen for us long term and long suffering shareholders would be for AT's share award to be potentially "life changing" for him. What an incentive that would be for him to push for a sale rather than the impending development!

Having said that he would probably still do quite well (if he sells his shares) from what surely must be a decent rise in the share price after the Q1 2024 MofUs are all signed.

Either way, the share awards will definitely give us an indication of what the board think Zanaga is worth over the next few years.

I might be wrong, but I thought AT has been receiving shares instead of salary for quite a few years?

At least I seem to remember that being passed at an AGM several years ago, although I have never subsequently seen an RNS showing how many shares had actually been allocated.

"I assume that any rail route from Zanaga might be half the distance of Simandou's, will need fewer than 235 bridges and may not need tunnels of up to 11km length. Makes me wonder why Zanaga does not yet have a similar development plan. "

Makes me wonder why anyone would develope Simandou when Zanaga is available.

Oh. I forgot. Glencore. They are still the thorn in the backside of Zanaga. No other ore company will get involved in Zanaga while Glencore still holds the distribution rights.

Zanaga would have either have been bought out or would be a producing mine now if Glencore had never been involved.

There is no such thing as a "paid" deramper, or indeed anyone who is "short" on KP2. This is a very minor AIm share with a small turnover that has no middle-men or market-maker involvement at all. There is no money in it for them.

Albi just has an interest in this board and a subconscious need to eventually be proved right. He's not invested, never will be invested, and is therefor not deramping - either for himself or anyone else.

He has an opinion, which he has every right to express on here. However nobody should be influenced by what he has to say - or indeed by whatever anyone else says opinion-wise on this board. Just do your own research. Links and leads to do that do appear in the this forum occasionally, like Beardozer suggesting a lokk at the Zioc board for info on waha is going on in the country as regards the port and other possible inward investment/development.

Meanwhile it is just best to ignore Albi's posts and not respond to them. That won't stop him posting occasionally, but it will stop him reacting with more posts. He is only here for an argument and a need to eventually be proved right.

"I'd rather read what's in your waste paper basket than anything MM posts! All that "research" and "joining up the dots" and where are we? "

Part of me agrees with you Bear, but without MM and Extrader's posts we would not have had a brief period at 14-15p a month or so back. Indeed, in my view, without their posts we would be back at 2p right now.

This is AIM. The share price goes up and down based on forum posts like these, especially when the company itself doesn't release anything positive any longer outside of the statutory updates.

As a result, if it wasn't for MM/Extrader, I'm not sure I would have picked up on AD ports involvement in Point Noire. Yes, the references to Vale and Saudi are purely wild speculation, but there is no doubt things are moving in a positive direction within the country.

Whether this will have any effect on Zanaga, in my lifetime at least, remains to be seen. In the meantime, as you have always said, ZIOC is a binary bet. Just like most AIM mining shares are.

Personally I would be quite happy for joining-the-dot rumours to get us up to 20p, as I think I would then sell and spend the proceeds while I still have the chance. I've paid my dues and waited long enough! LOL.

Look. Any long term shareholder here knows that MM and Extrader's posts are pure conjecture at this point, but they do consist of very useful research into the different directions Zioc may go in the next few years.

For that, I for one am very appreciative of that research, and I definitely do not consider it to be ramping in any way, shape, or form.

However personally I will never get excited unless I see official news from Zioc, like the China company news in the last RSN. Zioc's huge potential is undeniable, and it will pay off one day. When they day will be is anyone's guess, but until then I continue to find MM's and Extrader's posts both interesting and informative.

From today's RNS:-

"In accordance with the ASX Listing Rules, the Company will also lodge its cashflow report for the Quarter today. Included in those cashflows are non-executive directors' fees and the CEO's salary of US$198,000 settled in cash."

If this means Brad Sampson's salary is $792,000 a year, there is your reason why this project moves along so slowly. The longer it takes to come to fruition, the longer he keeps his salary. New owners or financial investors would most likely bring in their own CEO.

The Chinese are notoriously slow to deal with and there is no guarantee they will not suddenly lose interest, as happened with the Chinese COIDIC Memo of Understanding with Zioc a few years ago.

However with the renewed Chinese connection with Zioc and other developments in the country, I think finance will eventually be found for Kola.

When though is entirely another matter....

"If anybody is waiting for 'true news announced from the company (or ideally from a 3rd party about Zanaga specifically) Shovels in the ground' then they are going to have to pay £1+. Personally I'm much happier joining the dots and paying pennies .. single pennies, that is. I guess that's just me. LOL."

Fully agree MM - but its only shovels in the ground that will get it to £1, without a buyout that is. 16-18p max on rumours, but an actual construction schedule to get it above that. Without a buyout that is.

"We REALLY, REALLY need the drag caused by last RNS to be removed and get those pesky tranches away ASAP."

In my view the share decline was not caused by the share placing. The rise prior to the RNS was the typical AIM speculation amongst small investors that a sale was going to be announced via the RNS. Once it wasn't, most sold out again - and the share price is now becalmed until the next set of board and twitter rumours.

Long term investors have seen this happen many many times before. The only rise in the share price which will hold will be when actual positive news is announced that is directly related to Zioc. I am hopeful we will see a rise in Q4 when the Chinese company announce their costings, but if there is no more news for months after that, we will sink back again.

Until, that is, a partnership is announced to finance and build the mine. That could come any time in 2024, especially now the Chinese are back in the game.

But until then the share price will be driven by small buys and sells based on rumours and conjecture. Don't underestimate the effect of being amongst the top five users on LSE and the number of new small investors that brings along. That alone can fuel a rise back to 16p.

Above that though, we need an announcement of construction finance - or (unlikely in my view until 2025 at the earliest) an outright purchase.

Judging by the sales today, there is bad news coming in the Quarterly Review Of Operations.

This share has always disgracefully leaked like a sieve, which reflects very poorly on Brad and his cronies.

We have the Quarterly Review Of Operation due in the next few weeks.

Hopefully that will at least mention the significance of the port developmemnt by AD Ports and what effect that may have on KP2's route to market.

Of course, there will have to be an update on the EPC too, which will be the important part.

I just hope that, after a tweet and actually speaking to a shareholder (Veteran), AT doesn't disappear back into his Vision Blu world and instead continues to publicise the China company costing exercise and how important this is alongside the AD Ports news.

At the start of possibility the most important period in Zanaga's history, he should be doing an interview or two, tweeting, and talking up the huge potential of Zanaga - just as he used to three or four years ago.

"The work is NOT being duplicated, this is an entirely new set of work being done by a Chinese contractor who actually BUILDS iron ore mining and slurry pipelines. Not like the old work which was an evaluation done by a technical consultant who puts together studies on mine costs using only western suppliers of services.

The Chinese group is going to get pricing from Chinese construction sub-contractors for the work and believe they will be able to build it for much less than our previous estimates. We’ll also now have a Chinese cost build up in the Chinese language which we can share with potential Chinese investors!"

Thanks for getting that confirmation Veteran10 - info that really could have been better explained in Monday's RNS.

AS I said amongst all the doom and gloom on Monday, personally I think this is the most exciting Zioc development for many years. With the port development and the Chinese contstruction quote (and possible finance) we at last will have a proven route to market.

This also brings back the possibility of a Chinese buyout, but doesn't negate a buyout from elsewhere either. Alternately it can be partnership investment from China, Saudi, Vale etc.

If the constructions costs do come in at 20% lower that previously estimated, that can only be another positive. Either way development costs will be pinned down in Q4 - and then the competition to get involved with this world class green steel asset will begin!!

"We already did cost estimates two years ago: "

Shaun - but they were with western engineering firms. This is the first cost exercise done by a Chinese firm - and with the possibility of 20% savings on previous exercises, plus the first to cost the needed slurry pipe:-

"Chinese EPC Partner possesses specific, specialised, design and construction expertise in slurry pipeline projects as well as iron ore pellet feed concentrate projects similar to the Zanaga Project.

Guidance provided by Chinese EPC Partner that potential capital and operating cost savings of more than 20% could be achieved."

As I have said several times today, this is way more significant than many have realised. We now have China, Saudi, Vale, UAE, AD Ports all with possible eyes on Zanaga or working with Zanaga.

Admittedly there is the disappointment that there has been no buy-out offer as yet, so Zanaga have no option but to move along with the EPC. But if the China company comes up with a 20% reduction in capital and operating costs and a costing for the slurry pipe, that along with the port news will create a whole range of suitors.

Yes, its frustrating that nothing will happen for most of the rest of the year, and I share everybody's disappointment with the RNS, but I am still extremely positive that everything is falling into place.

"China has been name-checked time and time again in our interim's' and final's for some time now !"

Only through Coidic, and they disappeared from the scene during Covid. As far as I am aware this is the first reference to a specific (although still unnamed) China company providing updated costings for mine construction and slurry pipe since 2019.

With all the very valid join-the-dots work that MM and Extrader have done over the last few weeks, we all must now integrate China into the equation.

In my view, they are back - wanting the ore from Zanaga and Simandou. Not, as I previously thought, just wanting Simandou instead of Zanaga.

That does not rule out future involvement from Vale, or indeed direct Middle East involvement in Zanaga, but the Chinese are back involved for a reason.

We will find out more after we get the reduced costings for the project in Q4. Then its down to funding - and that is when it will all become clearer. I just hope the Chinese company gets the costings work done in Q4 as anticipated. They have a reputation of working very slowly - as KP2 have found out.

Until then though, we will be stuck with that depressed share price again unfortunately.

I see there have been no posts from MM since the RNS.

I'd be very interested in his views, assuming he hasn't sold out that is.

I concur with Phil - I think this is a good update too.

OK. Not a good one for all those buyers who came in during the share rise the past two weeks, but a good update for long term holders. The new Chinese involvement should not be undervalued. Despite all the talk of buyouts, the intention of Zioc has always been to develope the mine.

With the port news and the Q4 quote from the unnamed China company to build the mine and pipe, we have never been closer to someone coming in as a partner to develope.

That does not preclude an outright sale. Once we get the Q4 costings, especially if they show significantly lower capital cost than previously, potential partners - and possibly potential buyers - will start to emerge.