Member Info for Mitch984

Are we sure this doesn't refer to the sale of Glencore's 49% of the project to ZIOC, as previously announced on 23/11/22?

Align Research reports are all paid for by the company the research is done on, albeit in shares of that company.

So, although factual, their reports can hardly be considered totally independent

Having said that, the potential for KP2 IS a fact. Yes, there are risks. And yes., patience is required. But they will not lose their mining licence, despite what Albi may claim.

Some big late sales on Thursday, only reported late this afternoon. Over 2.2 million. Someone doesn't seem to share the same optimism as most of us.

24-Nov-22 16:38:44 4.90 500,000 Unknown*
24-Nov-22 13:07:50 5.275 1,200,000 Unknown*
24-Nov-22 16:27:40 5.051 507,379 Unknown*

I agree with fre1. There will be nothing about this at the AGM. The AGM agenda is already set, and the agenda will just be rubber stamped today.

Something Zioc and AT have been working on for the past two years I think - moving Glencore out of the equation as much as possible.

I think we can now rule out a sale of Zioc - none of the big mining companies (Australia or China) will want to develope without access to the ore. Similarly financing of the mine by another mining company is probably out too.

I guess that leave private investment to finance the mine? I am sure Zioc must be well advanced with investment options and this is another step along the way.

It wouldn't surpise me to see AT now take a back seat and Johnny Velloza come to the fore, as he is a mining development expert - and it is clear now that Zioc's aim is to develope the mine.

Johnny. Instead of just making pretty pointless one line comments about other posters , how about giving us your view on the RNS?

The concern to me is "There are a number of proposed contractual terms that the Company believes now require further discussion before acceptance." and "It may transpire that SEPCO will require further SEPCO and Power China Board approvals prior to the finalisation of the contractual terms."

Clearly there are terms in the proposed final agreement that KP2 didn't expect and were not covered in the Heads Of Agreement. Hopefully this can be resolved, but if either side plays hardball, we could still have a long wait before anything is finalised. Especially if board approval from two Chinese companies (SEPCO and Power China) is required.

I can't see anything being finalised until 2023 now, but at least KP2 have updated us on the reasons for the delay!

Patience is still the name of the game with KP2.

Albi, but your repeated posts that KP2 will soon be below 0.5p is disgraceful deramping!

I assume you will also be reporting yourself as well as RocK?

No sure the sale of 200,000 shares today amounts to someone losing patience, but your second comment is spot on!

Speaking of Andrew, has anyone spoken to him recently.

Iseem to recall 2-3 weeks ago someone on here confirming his contact details.

Johnny - that depends on when you came across KP2 and what price you got in at.

For anyone who has invested in the past twelve month, there will be short term gains to be had.

For anyone, like me, who invested 5 years ago and is a long tern holder, the payoff will be further away.

Rock, please. MMs do not influence this share at all. KP2 just doesn't do enough turnover to warrant any interest from the MMs.

What is more like if today's dealings are all buys is that KP2 leaks. Always has. The best sign of upcoming good news will be an increase in significant buys, so you might be correct about a big impending announcement.

But forget MMs. They have zero influence on the current price of KP2. Hopefully one day the share price and transaction level will be high enough for them to take an interest, but at current levels it just doesn't happen.

Its a difficult climate to raise finance for anything at present, but the Kanga RNS hopefully will push KP2 and their partners into an early conclusion!

As regards Albi, his negative comments are well over the top. But newbies to KP2 need to remember that the share price is where its at for a reason. Its only when we have finance agreed that the share price will swing.

Thanks for all the comments. I totally agree, although Kanga is a competitor in a sense, development can only be good for KP2, especially in relation to infrastructure in the area.

I also like the offtake letters of intent Kanga already have, even though their development I assume is behind KP2 in testing etc.

No reason why we shouldn't be seeing a similar RNS on financing and offtake from KP2 in a few months.

Another potash mine located, I think, close to KP2.

Does anyone know anything about it? Its the first time I have come across it.

https://www.investegate.co.uk/kanga-potash/rns/kanga-potash-granted-mop-production-licence/202207200700090413T/

Thank you Veteran for that excellent write-up.

I assume AT will be receiving shares instead of salary. Its never been mentioned how many he has accumulated, but my impression is that a successful outcome for Zioc would be life-changing for AT, as well as for Clifford - and possibly many of us too.

On the points others have raised about KP2. I also do not think their infrastructure will be of any great use to Zioc. However the key for me with KP2 will be a major mining project in the ROC getting major finance for (as far as I know) the first time.

In my view KP2 getting off the ground would increase the confidence of third parties investing in Zioc. At present nobody seems to want to take that risk at all, despite the huge potential of the asset.

That sounds more than interested,Veteran. Hopefully your chat with AT will take place, and hopefully too he will give you permission to report a few things back to the forum. I seem to remember Extrader did something similar after speaking to him late last year?

Either way, anything you are wiling to share would be gratefully received by many, I'm sure!

Two interesting things for me in what is otherwise an "as you were" update (otherwise known as "nothing is happening"):-

1. As others have mentioned, the Glencore loan is interesting. I might be wrong, but I think that is the first time such a loan has been actioned. I would hope its an indication that Glencore still have hopes for Zioc, even if the loan is just to tide things over until something (anything) comes out of...

2. "Increased engagement underway with other mining project developers in RoC to explore potential collaboration opportunities, especially in relation to logistics solutions and alternatives for upgrades to existing infrastructure"

This does make sense, especially with KP2 supposedly close to getting finance settled later this year, and also needing infrastructure for a route to market

The mention also possibly shows that an EPC is still in ZIOC's mind, even if Chinese/COIDEC interest is seemingly long gone.

Overall though, we are in for a very dull and depressing year or so as regards news, with only speculation about whether AT is still there to keep us amused.

I just think we are in a total stalemate situation. China have lost interest. Glencore do not want to develope the mine themselves, but equally do not want it to sell it to a competitor without retaining some distribution rights. And who would invest under those circumstances?

Personally I don't think there has ever been a serious offer from anyone as regards an actual sale of ZIOC, which may or may not be due to the presence of Glencore.

So a total stalemate, which is most likely why AT has lost interest and is concentrating on his new venture.

However that is absolutely no excuse for ZIOC not communicating with shareholders, even if no progress is being made.

I'm also a long term holder of both shares. Both hugely undervalued I agree.

My hope is that a spade in the ground for KP2 will convince others that developing a mine in this country actually IS possible. Fingers crossed!