Member Info for Mitch984

Nothing will happen tomorrow at all. The General Meeting is on Friday at 9am to switch to a Standard Listing. Once that is passed, we may get some additional info next week. But I don't think anything was ever going to be announced until the General Meeting was out of the way.

Shorts? There are no shorts on this share. This is a very very minor stock on AIM with no institutional investment. Anyone posting that this share price is manipulated by the middle men or shorters is, as allthatguff quite rightly says, pure twaddle.

The daily volume on this share has been negligible for the past two months, which is why it has drifted down and down. Only some new news will move it up now.

We will know for certain on Friday if the 4 x 500,000 buys are from a new buyer or an existing holder topping up.

If no Form 8.3 is filed on Friday, then its a completely new buyer staying just under 1%

If the buys from from an existing 1%+, then a Form 8.3 must be filed. Anyone who holds more than 1% of a companies shares during a takeover period must file a Form 8.3 even if they buy or sell one share.

"Mitch your post is misleading and market abuse. You're pretending "Stobart pulled their bid at 40 or 50p" when in fact Flybe rejected Stobart's bid of 40p. I can't stand liars."

Scully - its hardly market abuse. Yes Flybe rejected Stobart's bid, but Stobart as far as I'm aware didn't go back with a higher bid. Instead they pulled out of negotiations.

Anyway, the point I was making is that neither IAG or Virgin jumped in at that time. Since then Flybe's share price has dropped into the teens from the mid 40s and their financial situation is worse. And that makes me think IAG and Virgin are looking for a bargain takeover.

However, if it gets into a bidding war, anything can happen of course. But, in my view, its only a bidding war that will see 50p+

All my opinion - if you think its market abuse again, please report me.

Let's have a dose of realism here. FlyBe has in effect been up for sale since March when Stobart pulled their bid of 40-50p a share. At that time neither Virgin or BA expressed any interest.

If Virgin and BA are now showing an interest, its only because they smell a bargain. That is, they now think they can get FlyBe for much less than the bid Stobart made in March.

30-40p max is my guess.

Sooty. Absolutely correct - it's that last chance holding RNS from 2017 that makes me concerned the same will happen this year.

While I am certain there are lots of positive things happening behind the scenes, I do disagree with Scott's statement that the company has no need to publicise the asset and potential.

Shareholders should be kept in the picture, and Zioc are just not doing that to any great effect.

To be honest, I can't see the board and Glencore messing this up either.

However my point was that either the lack of information and promotion of the company is either rank inefficiency or deliberate.

I have as much patience as it will take with my holding, but I'd really like some indication that its not rank inefficiency.

So does anyone else have a date after which they will start to become concerned about the silence from Zioc?

I'm starting to get that way, and if we get another holding-type RNS on 31/12 just because they promised an update by year end, then I will be seriously worried.

There are plenty of posts on other forums about Zioc that are ultra negative, all of which I have previously ignored. But the longer the silence goes on, the more they gnaw away at me.

There may of course be something big going on behind the scenes. However if Zioc have to raise finance or investment from a third party in the short term, the lack of PR from the company is baffling. Everyone else on AIM who is sitting on a massive asset that needs finance shouts it from the hilltops.

I suppose that could mean that finance for the next step (EPP) is already done and dusted, or it could mean that raising finance is still to come and the EPP will therefore take at least another two years to get underway. If its the latter, the total lack of PR is strange.

Any views, anyone?

Big buys have little or no effect on the share price when they are matched by equally big sales - as have all this week's large buys.

There is therefore no shortage of sellers at the moment.

As much as we all miss MM's rantings on here (!), he does still occasionally post bits of very relevant news on Twitter:-

https://twitter.com/MinorMinerLSE/status/1064065831225708546

The link seems to confirm Chinese involvement in the long term power needs of both Zioc and KP2. As with the new port, when it will actually happen is a different matter though.

However I cannot see any way that, in five years time, the country will not have fully fledged iron ore and potash mines up and running. The name of the game is patience.

Just as I said yesterday "there will be many opportunities over the next few years for shareholders to exit at a profit. And the longer you hold, the higher that profit will be."

In time, Sooty will get his opportunity to exit at £1 or even £2, and others will hold for five years plus and get closer to Scott's valuation. That is the beauty of this particular asset.

I'm not sure if Simandou falling through for the Chinese is good or bad. It could be good for us because the Chinese may switch their attention to Zanaga, or bad for us because it emphasises the risks and delays in green field projects in Africa.

As regards the EPP, I think it will not get underway until late 2019/early 2020. I certainly hope it will be earlier. In the meantime I'm hoping for the share price to get back to 25p when EPP costings are announced, and maybe to 50p+ if the new port gets through the Government/IMF/Chinese complications. At least £1+ if Stage 1 gets financed, and much higher when Stage 1 is underway.

The above is on the assumption that Zioc and Glencore hold on to the asset. Once the EPP is active and if the new port is confirmed, then a buyer might come in at any time.

All my own opinion, and all guess work at this stage, but its my view there will be many opportunities over the next few years for shareholders to exit at a profit. And the longer you hold, the higher that profit will be.

NewKOTB.

Sorry, I should have been more specific. Glencore have never before developed a green field IRON ORE project. Yes, of course they have developed sites in the other metals that they are strong in, but Glencore have never before shown any interest in iron order at this level.

I neither think Glencore will sell their share, nor do I think Glencore will buy Zioc's share. A third party may come in to buy Zioc, but I think Glencore have their sights set on keeping their share and selling the ore through their already established iron contacts.

I have no doubt they will support the project through EPP to Stage 1, which is the important factor.

I'm not at all sure Glencore will ever let this go, despite their apparent reluctance to be heavily involved in green field sites.

So I think we would be looking at a buy in rather than a straight buy out - and even then not until we get the EPP under way and have a proven route to market.

If we can ignore the day traders, like DBNO on here, and look at the medium term - then PMO is very well placed to get back to at least 130p by 31/12.

Any progress from there will not be until the first PMO accounts update of 2019 in February. PMO's position within the overall oil market needs to see solid PMO debt reduction, only then will Catcher production, Tolmount, and future prospects come fully into play.

For the rest of this year, we are at the mercy of general oil market sentiment, which is not positive in any way at present - despite the oil price.

Chinalco's purchase of Rio Tinto's interest in Simandou has fallen through:-

https://www.miningreview.com/simandou-iron-ore-project-development-back-to-square-one/

Is this good for us (because the Chinese may switch their attention to Zanaga), or bad for us (because it emphasises the risks and delays in green field projects in Africa)?

I'm not sure about anything upcoming in the next few weeks. If potential news had leaked, then the buys would have been larger.

When we were expecting the supposed impending port news, we had multiple 100,000+ share buys every day. The buys yesterday and today are much much smaller.

Having said that, one or more buyers are showing confidence - exactly as we all should be. There will be an update on the EPP in November or December I'm sure, but personally I don't think its immediately imminent.

notgecko "Why don't PMO release a note saying no underlying reason for a third of the companies value being lost??"

Why? TLW and ENQ, our closest oilie competitors, are also down by about the same amount. The bigger oilies (BP, RDS etc) are well down as well. Markets worldwide are down too.

Why should PMO have to comment officially on something that is obvious to all and not directly connected to their own performance?

gta5. Why is a 1mta EPP by truck totally impractical or not economical, as you claim?

One truck can carry 300t at speeds of up to 50mph. That would requite 10 trucks a day to move 1mta. Get a fleet of 100 trucks and, subject to the roads being up to scratch, 1mta is easily attainable even with delays etc.

I am no expert - but then neither are you. And that is the whole point of the joint EPP working party - they see a way for this to be very profitable using local and international experts to produce the figures

If the figures show that it would be profitable, it will be financed by a combination of off take agreements and Glencore in my view.

So, as you say, let's wait and see what the update says. Then you can gracefully disappear from this board because of being wrong.

gta5 - I do agree however that there is no quick money to be made here in 2018. We will see a small rise if/when we get concrete details of the EPP. Then a rise if/when the port is announced. Then a rise when if/the EPP begins.

So maybe 40-50p towards the very end of 2019 (next year).

If/when Stage 1 gets underway, then we will be in the £s - possibly multiples of. But that will be 2020-2021 at the earliest in my view.