Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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 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.
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.
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?