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I am pretty sure AT's bio on Vision Blue is accurate - he hasn't worked anywhere else other than JP Morgan, Zanaga and Vision Blue.
During Covid he was based in Dubai as I recall, but I think that was more to do with travel convenience rather than Zanaga related.
I also seem to remember that he used to return phone calls from a couple of the more established members of this forum, but I can't remember who.
Maybe they can try and speak to him again? He can't say anything market sensitive of course, but it would be good to know if Zanaga are still trying to move forward.
I have emailed but with no response, and am not unfortunately a large enough shareholder to expect him to return a call.
If you are a genuine Zioc investor, especially a long term investor as he is and many of us are, you would appreciate everything he posts as being more than relevant.
He is doing the research on current and possible developments that many of us do not have time for. Thanks MM!
"Except, unlike Zanaga, Kore does not have a major partner such as Zanaga has with Glencore. Makes life far more difficult for negotiations and clout. This is not out of the woods yet.."
ATG - probably makes KP2 more open to a complete buy out than Zioc is. Glencore presence in the Zioc set up makes it very hard to sell the project to another major iron ore miner.
There are no such restrictions with KP2, so the lack of a major industry partner may actually be an advantage?
"It's now inevitable that Zanaga will be snapped up by one of the big boys of global mining. All the stars are finally aligning and I can see a bidding war for the asset coming as the Saudi's enter the fray. That won't have gone unnoticed by other parties including the Chinese, Aussies and Americans."
But don't forget that Glencore have the sole rights to distribute the ore. To me that rules out the big iron ore companies (Rio, BHP, AA etc), unless its a complete buy out.
Bringing in an outside partner to finance the development of the mine is what Glencore prefer, and that is why the Saudi side is interesting - especially now China is out of the Zioc picture.
"All this leads me to believe that Glencore will with agreement of KE(and perhaps also JH+ a few others)will acquire the outstanding shares, at a “fair price”(probably with glencore shares held in treasury), when the time is right.
This would be more easily done, with the recent restructure."
I may well be totally missing something here, but if Glencore wanted to do that, surely it would have easier and more sensible to have done it before the restructuring?
I just can't see that as one of the many scenarios, but I live in hope!
"25p next stop - the 2017 and 2018 highs when it looked as if 'China' was going to develop Zanaga. "
While I would very much like us to get back to those levels quickly, I think we will need some sort of concrete news to get there. Nearly all the buys today were small transactions, whereas the price was driven up in 2017/18 by some very large PI buys as I recall.
Next week will tell. Many of the recent buyers will not be LTH and will be looking instead for a quick in/out profit.
What we really need to keep the momentum going is some news from AT and co. If the total silence continues, the share price will sink back again - as we have seen many times before unfortunately. Rises based on speculation and joining the dots, followed by silence from the company, and then finally an underwhelming RNS update.
Having been a holder here for more years than I can admit without kicking myself, I really do hope this is the turning point though! Please!
"LT, an example of good experienced BOD’s is KOD… they made the deal happen and did not hype!… thus x10 SP.."
Albi, what happened to Zioc, who last week you claimed were another example of a very tuned in BOD who kept investors informed?
If you knew anything about Zioc, you would have realised how laughable your statement was.
"Meanwhile,,,Zioc flying, BOD not diluting PI's"
That is the most ridiculous of the many ridiculous posts you have made.
Zioc is just as becalmed as KP2, although with the same huge potential.
And Zioc HAS diluted PIs through buying out Glencore with new shares. Do your research before posting on here please.
"Veteran10 Anyone seriously interested in acquiring Zanaga has been fully aware for a long time now, of not only the quantity and quality of what we have but of all the obstacles in the way of getting it to market. Slowly but surely potential cost effective solutions have and continue to be found. Hopefully, this latest news concerning the "new mole port" is the final box that needed to be ticked off. Also, with all the talk now of "green steel" and the enhanced world wide demand for our "high grade " ore, then the value of what we now have is far higher than what we could have hoped to achieve in the past few years. Lets just hope that the wait wil have been really worth while."
Every one of the above very valid points also applies to Simandou, which has 10x the development costs of Zanaga and 10x the physical obstacles of getting the order to market, but similar high grades of iron ore to Zanaga and similar life of mine reserves.
That is why two of Veteran's point are both valid and highly relevant:-
Why was Simandou picked over Zanaga by Rio Tinto?
Why has nothing happened for 10 years plus with Zanaga?
Does anyone have an answer?
"Zanaga - Now the world's largest and highest graded iron ore not in the hands of an iron ore major, and all prepped for development:"
But Zanaga is mostly still in the hands of an iron ore major. Glencore still have the exclusive rights to distribute the ore, which must be offputting to any other iron ore company.
"Does China need Zanaga, if it already has Simandou and Belinga?"
I think the question is more why have China done Simandou when they could have developed Zanaga at a fraction of the cost.
That has always puzzled me, and slightly concerned me.
"The company in its investor presentation of 7 December 2022 in its review of their portfolio noted "Zanaga Iron Ore - sale pending'. "
Just to clarify on this, Glencore have since confirmed to another board member that the "sale pending" in fact referred to the share transfer deal with Zioc, and not a pending sale to a third party.
I do agree though that there must have been some reason behind the Glencore deal, although my thoughts are more towards Zioc bringing in a finance partner to start development, rather than an outright sale. Glencore's long term rights to distribute the ore will, again in my view, lessen interest from another established miner (like FMG for example).
Concur that it is good to have MM back!
I'm not so sure ATG. Personally I would be overjoyed with a sale at $1bn, and agree that looking at the life of the mine etc, it would be a bargain at that price.
However if it really was such a bargain, it would have been snapped up by now. The biggest factor against a high selling price in my view is Glencore's rights to distribute the ore. That reduces the profitability for any third party that wants to buy Zanaga outright and develope themselves.
Personally I think a partner will be brought in to develope the mine, starting with the much mooted small scale project. However my hope, like it is for all of us, is still a buyout.
I thought it was a very poorly written RNS, and much more explanation should have been included to stress that the DX extension is years down the line, and the current emphasis is on financing Kolo.
But then poorly written RNS' are par for the course with KP2 unfortunately.