Member Info for Mitch984

I tend to agree re the sp after the half year results tomorrow. There will be disappointment that the debt will not have reduced by very much, even though PMO have stated many times that significant debt reduction will not take place until the second half of the year.

There will most likely be updates on Tolmount and Sea Lion, maybe even Zama - but, until the POO stabilises, new projects will be looked upon as just as much a risk as a potential benefit.

So tomorrow we could fall back to 115p, or might make gains to 125p. I don't see a huge break out though.

Hi Yoshie.

NOTICE IS HEREBY GIVEN THAT this year’s Annual General Meeting of Zanaga Iron Ore Company Limited will be held at Adelaide House,
London Bridge, London, EC4R 9HA, England on 5 September 2018 at 12.00 noon (BST)

http://www.zanagairon.com/pdfs/Zanaga-Notice-of-AGM-2018.pdf

Apologies if these have been on the website for a while and therefore is nothing new. First time I've spotted them!

These are now on the company website ahead of the AGM on 5th September. Some interesting stuff in there on a very quick look, including some post results info up to June 2018.

20-30p max re-rate for me when we get a revised NPV and the port extension is signed off. We will then sit at that level until we get definite finance news and dates on the EPP. That may be six months down the line minimum.

As many have said, patience is the key here. If holders are willing to stay in the game until 2021, they will be handsomely rewarded.

While I still think Sea Lion will go ahead at some stage, we have to remember that, in terms of new projects, both Tolmount and Zama are higher priority for PMO than Sea Lion.

RKH therefore needs to be the driving force on Sea Lion - if that is even possible.

Until we get some conclusive news - like the port signing or, more importantly, a revised company valuation based on cold pellets - the share price will I think continue to drift lower.

The large buyers that were around last month appear to have maximised their holdings, so any buying until either big news breaks or institutions come into the picture will be smaller holders like ourselves topping up when we can.

This is AIM after all, and its also August too. As No.1 rightly says, there will be more interest come September. In the meantime I think we will all have opportunities to top up between 12p and 16p - prices we may soon never see again.

As at 31/03/18, they had £126,000 cash in the bank. Administrative Expenses in the year to 31/03/18 were £557,000, and income for the year was £10,000.

If the expenses of the company are running at anywhere near the same £500k+ level as 2017/18, the company will need to issue new shares to see out the year.

Both are showing on the London Stock Exchange website:-

13:43:48 14-Aug-2018 18.30 GBX 300,000 54,900.00 Off-book AIMX LRGS
13:43:35 14-Aug-2018 18.20 GBX 300,000 54,600.00 Off-book AIMX AMND LRGS

However AMND means an amended trade, so there might only have been one buy of 300k. Definitely a buy though.

MM. The excellence of the majority of your posts on this board are very much negated by your personal attacks on anyone who's views you disagree with.

I've read extrader's posts and all he is doing is asking questions and seeking opinions on the current value of Zioc. Until the company update their financial presentations and predictions to take account of recent developments and the success or otherwise of cold pellets, all any of us can do is speculate.

That speculation will vary from overly pessimistic (due probably to the clearly undervalued share price to date) to incredibly optimistic. In the current circumstances surely every range of views can be expressed?

If you don't think that anyone should be allowed to post views or ask questions that do not fit in with your own views about the company, can you please explain why?

A good amount of the sells are coming from one big seller. Until that selling source dries up, the share price will not rise despite the increased buying.

My dummy orders show that I can still buy amounts from 100k to 500k at a bid price of 19.5p or less - and that has been the case since well before the RNS. There is no shortage of shares as yet - and until there is, the share price will not rise to the level it should already be at.

I've also been saying for quite a while that I think there is/has been a big seller out there. It was Artemis, but I wonder if its now Mike Haworth? With 115 million shares, he may have decided some cash now is more useful than huge riches in a few years time.

However I think he still has to file a TR1 for every 1% (1.1 million) that his holding declines, even now he no longer has to declare any Director Deals? Is that correct?

Glencore update the market tomorrow with their half year results. Could the timing of today's RNS be connected?

Any mention of the project by Glencore tomorrow will be a huge re-affirmation.

My reason for thinking there would be no news in August is because the next stage for Zioc is to attract investment and/or an offtake agreement. Part of the reason for the new Zioc twitter account is, in my view, to get the company away from from under the radar regarding what an enticing prospect the company is.

If I had blockbuster news about my company that I wanted to get out to every potential investor or institution worldwide, I would not release that news in August.

The same with creating any buzz with the London ii's. I spend a lot of time in Canary Wharf and the City, and the only month of the year when its actually pleasant to be there is in August - because the number of people at their desks drops by 75%. Much of the buzz about emerging companies still comes from traders talking to each other, despite the actual trading being dominated by algorithms and computer.

Positive news on September 3rd, and this baby will fly! Although if it does come earlier, I won't be complaining.

I don't think we will get any company news during August.

Anything positive, especially regarding the pellets, the company will want maximum publicity for. Half the world, especially in financial and industry circles, seem to be on vacation in August - and indeed some countries virtually shut down. Even if Zioc have good news, I think they will hold it back until September for maximum impact.

I would be very happy to be wrong though!

DGR1980 "So you reckon it'd take someone 7 1/2 months to sell 8 million shares?"

That's not exactly what I was saying. I was "hoping" Artemis was still the big seller that has been selling over the past two weeks. If they are not, and you are most likely correct in saying that they sold out completely several months ago, then there is another big seller from pre-licence pre-9.5p days.

The 9million+ shares that have sold in the past two weeks at prices from 9.5 to 11.5p must have been acquired pre-licence, unless they have been sold at a loss.

So that's why I was hoping it was Artemis. If it wasn't Artemis and there is another big long-time holder who is selling, to my mind that would be the only slight negative in the very positive Zioc scenario.

I'm not sure Artemis have been gone for that long Shaun. Their TR1 was on 30/11/17, and they still had over 8 million shares left after that.

I'm hoping Artemis have now sold the last of their shares the past few weeks and they were the source of the recent selling that has fed the buys. If they are gone now and the heavy buying continues without any share price rise, then another one of the large original shareholders must be selling too. The next week or two will tell.

Touch wood, the low free float will not now include any big potential sellers, and the share price will start to fairly reflect the huge potential.

Mock as much as you like, but I'm not the one selling and I guess you guys aren't either. In fact I've topped up a couple of times over the past two weeks.

So who is selling? Nobody seems to offer any plausible explanation on that.

Its definitely not day traders or recent investors as the heavy selling to meet the buys started two weeks ago at 9.7p - the lowest share price since the licence was granted last November.

So, unless some large holders are selling at a loss, it must be long term holders from before November 2017. If so, why sell now when everything is coming together?

Price heading back down again now as the sales start to show to meet this week's buys. Despite the small free float, there is never apparently a shortage of big sellers (or seller) when large buys come through.

That puzzles me. If shares are in short supply., with the numerous 50k-100k+ buys the past two weeks (well over 3 million shares in total just on 50k+ buys), we should be at 15p+ minimum.

This brings up again something I've raised a couple of times. For the past six months, and especially this last week, one of the very large holders must have been consistently selling. In ten days there have been over 2 million shares purchased in individual buys of 50,000 or more without the share price rising at all and without going into an auction situation.

With such a limited free float, this can't be lots of small holders bailing. The large 883,000 sale today seems to confirm that.

I am 99.9% positive about ZIOC, but the only thing nagging at me is that one of the very large (perhaps original) shareholders from several years ago is now selling. If anything was imminent that would result is a rise in the share price, why would they sell now?

It puzzles me. If I owned 2 million shares, I certainly would not lose patience and sell based on the good things we all know about.

Does anyone have any theories about where the shares are coming from to meet the large buys, and why there is no shortage of shares when anyone does want to buy big?