Beadozer. I would hardly call Jay12's 5 informative posts today "swamping the board". Hopefully you said it tongue in cheek.
I for one like to be kept informed of articles I don't come across myself.
I share everyone's frustration at how slowly Zioc is coming to market, and agree 100% with Jay's comment that its time for GLEN to put up or sell their share. In my view, without the presence of GLEN, either the Chinese or Fortescue would have bought the whole lot by now. Neither though wants to work with GLEN.
Purely my opinion.
Sham made some very valid points about the history of CTEA, as did I. Just remember that CTEA is a trading share - if you can make a quick profit buying and selling while the optimism is high, then do so.
But do not treat it as a long term hold. There are 50+ other much larger companies developing apps like this, and many will be testing it on a larger base than on a small clinic in Newcastle.
No more than one app or two will dominate this market. For an app like this to be useful, it has to have nationwide common usage. All Sham and I were saying is that CTEA have absolutely no track record in developing anything that has been utilised by large organisations.
That doesn't mean you can't make a profit on buying/selling CTEA while the optimism is there. Just make sure you get out at the right time and bank your profit!
Most of the rise today is from small AIM investors noticing we are in the top ten gainers. This brings in the Twitter pump guys, and brings in more small buys. Unfortunately I think both Sertitza and A1 still have shares to dispose of, so we might see a fall tomorrow.
However I do agree we are still well undervalued, even if today's rise is sustained. We do need some news though to push the share price higher - the Twitter pumpers and AIM short term dealers can only take it so far.
Thankfully all of us long term holders have what it takes - patience! And we certainly have shown a lot of it the past few years!
I posted this on 5th May when the price was 6.4p, and I am pretty sure Sham was also warning about CTEA at the same time. We were both shouted down though as crude derampers.
My 5th May post:-
"I am surprised that nobody has commented about Catenae's previous history of tenuous links to current/hot technical developments that laymen (and AIM investors) don't fully understand.
Three years ago, when the company was called Milestone, they did exactly the same with Blockchain. Just by mentioning they were working on something that was blockchain connected, the share price went up multiple times. That allowed those connected to the company to sell many of their virtually worthless shares before the price sank back to previous levels.
The same will most likely happen again here. They were never involved with the official government app, and never claimed that they were. If you made money this past week, then well done. If you bought in a few days ago, then bail and cut your losses.
All, of course, just my opinion. However do your own research, and check out the old Milestone posts if you can find them."
It's often the only way they will learn Sham - by incurring a loss. Although I do feel a little sorry for them for being taken in by the persistent paid cheerleaders.
AIM is dominated by rampers and derampers. They have little or no effect on the main market, but they only need to get an AIM stock as one of the biggest risers of the day, then they can sucker in niaive newbies.
Spot on, Shaml89. As we know, this company did exactly the same with blockchain as they are doing now.
You will of course be shouted down by all the small fry who are desperate to regain their losses, just like we all were denigrated when we posted arnings during the blockchain rise/fall.
When the share price sinks below 1pm again, all those who vented against you will not post again through embarrassment. However if you have made one small investor think twice about buying this share, then you have done the right thing.
A well done from me. Your lastest post sums up the situation here very exactly.
"Good luck. I believe in my investment so not gonna take any investment advice from you."
I have no problem with your confidence, but will you come back on here is a few weeks when the share price is back below 1p, apologise to shaml89, and admit you were wrong?
No, I didn't think so.
CTEA will not generate any company income from this, just as they have never generated any worthwhile income over the past five years. The people that are laughing are the directors and warrant holders, who will all make decent profits from their vague bandwagon-jumping announcement, the subsequent ramping. and the naivity of small investors like yourself.
I posted this earlier in the week, but got shouted down as a deramper trying to buy in at a lower price. As if. If anyone is stil tempted to buy, just go back 3-4 years and find the Milestone posts on LSE if they are still available.
In the meantime, here is what I posted earlier for anyone who really does want to research this company. Yes they have a different board now than in the Milestone days, but they still have never generated any revenue other than from placings.
"I am surprised that nobody has commented about Catenae's previous history of tenuous links to current/hot technical developments that laymen (and AIM investors) don't fully understand.
Three years ago, when the company was called Milestone, they did exactly the same with Blockchain. Just by mentioning they were working on something that was blockchain connected, the share price went up multiple times. That allowed those connected to the company to sell many of their virtually worthless shares before the price sank back to previous levels.
The same will most likely happen again here. They were never involved with the official government app, and never claimed that they were. If you made money this past week, then well done. If you bought in a few days ago, then bail and cut your losses.
All, of course, just my opinion. However do your own research, and check out the old Milestone posts if you can find them."
I am surprised that nobody has commented about Catenae's previous history of tenuous links to current/hot technical developments that laymen (and AIM investors) don't fully understand.
Three years ago, when the company was called Milestone, they did exactly the same with Blockchain. Just by mentioning they were working on something that was blockchain connected, the share price went up multiple times. That allowed those connected to the company to sell many of their virtually worthless shares before the price sank back to previous levels.
The same will most likely happen again here. They were never involved with the official government app, and never claimed that they were. If you made money this past week, then well done. If you bought in a few days ago, then bail and cut your losses.
All, of course, just my opinion. However do your own research, and check out the old Milestone posts if you can find them.
"Isn't it time you joined the real world? Who are the "other guys"? Come back simonthezealot! Is your money still in the bank?"
beardozer - I think that comment is a little unfair. What about Fortescue, who bid for and nearly got Simandou?
There definitely are/will be non-Chinese companies interested. The only company that is not interested is Glencore - get rid of them somehow, and the competition for this asset will hot up quickly.
"Am i correct in assuming that no matter how low this SP goes (getting simply pulled down by everything else) that the company will not go bankrupt ? Some reassuring views appreciated please ?"
ZIOC will not go bankrupt. Even though their only interest is in marketing the ore, Glencore would not let it go bust.
Glencore's presence may be a disadvantage in the development of the resource, but they are a useful backstop in these never seen before times to make sure ZIOC keep the lights on.
And keeping the lights on for another 6-12 months from August until things start moving will cost peanuts in the overall scheme of things.
Absolutely amazed Fortescue aren't all over this.
Just announced a huge increase in profits. They are exclusively iron ore, all of which currently is lower grade than Zanaga. They were in for Simandou, so must be open to Africa expansion.
There can only be two reasons - they either know Glencore will not sell, or they know the Chinese have it tied up. Although the latter did not stop them bidding for Simandou.
As others have posted, I think Glencore are the stumbling bock to an outright sale. However that could change if their share price and profit continues to decline.
"Michael Haworth is the contact with Glencore. if he is selling, i dont think going forward ZIOC can do good terms with Glen on progressing the zanaga project. so, to me, if Michael Haworth truely selling, that is not good news at all. "
Ivans. Please do your homework before you post. Michael Haworth resigned as a director well over a year ago (September 2018), to be replaced by Johnny Velloza, who is far more connected in the iron ore field than Mr Haworth ever was. Mr Haworth had no direct links to Glencore at all.
Since he resigned, Mr Haworth has had no involvement whatsoever with Zioc, which is most likely why he has been selling down his shares through his trusts/offshore companies since September 2018.
Hi Extrader,
Good research there. My view is that the majority of large sales over the past year have been Michael Haworth selling down his holding since he resigned as a non-exec director, or moving his holding into smaller offshore entities that hold less than the TR1 3%. His holdings have never been very transparent, going back to Salamanca Trustees in 2017.
I don't think the other directors/founders and the couple of private investors have sold anything at all. Just Mr Haworth.
With so many different offshore companies and trusts being involved though, I don't think anyone will ever know for certain.
I don't think Glencore will let the Chinese have 100% of the asset, and that has been the stumbling block to a BO offer to date.
Glencore in my mind want to keep the distribution side, although do not want to get involved in financing the capital cost of the mine.
Just everyone ignore Simon.
He doesn't know the difference between a TR1 and a RNS, just like he didn't know Zanaga's registered office has always been in the British Virgin Islands. He also doesn't seem to know that Glencore is a partner in this "tiny company".
As regards a big seller in the background, that seller has been present for quite some time in my view, which is a huge reason why the share price has been so stagnant. I think we would all like to know who it is, as the major (+3%) shareholders on the Zanaga website have been unchanged for at least six months.
Let's ignore Simon's rantings this week, and concentrate on something much more important from Sooty "there were two tranches of 4, 631, 621 making a total of 9,263,242 shares sold just before 3pm".
That is over 3% so a TRI must be filed before Wednesday. Which will be more than interesting.
Confirmation that there is something in this? Why else would AT post:-
https://twitter.com/Zanaga_Iron_Ore/status/1219194391597867011
"Chen said the company would team up with other steel producers and jointly establish a fund to develop the mine, which would supply iron ore with an estimated cost, insurance and freight (CIF) price of roughly $40 per ton — well below the average price of imported ore last year."
Does anyone know enough about the Zanaga projections in the various RNS' to say whether our CIF price would be around the $40 per ton mentioned?
I think Simandou would be much more, so that may rule out Simandou as the mine they are looking for partners to develope.