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Firstly let me say I have been invested in KP2 for over five years and fully agree with everyone's positive view on the potential of the project.
However after the Consortium submits the EPS (Engineering, Procurement and Construction) proposal in a few weeks, we need to remember that the profect still has to be financed.
Yes, the Consortium are expected to provide a "financing proposal" some time following acceptance of the EPC, but lets not forget the word "proposal".
At no stage has there been any indication that the Consortium will come back at that stage with an actual agreement on the finance. RSNs have glossed over this a little - it could be that the Consortium are only expected to come back with a list of possible ways the project can be financed. And that would leave us no further forward than the past five years - when KP2 itself have been looking for an entity or country to finance the project.
I hope I am wrong, but after many years of false dawns on this project - and with the ROC itself having a track record of nothing happening quickly (see ZIOC) - I am not sure we are as close to the reward time for shareholders as some have suggested.
Like I say, I do hope I'm wrong!
I think it better reads:-
A timely reminder of why we are STILL here! LOL.
I'm not sure the BOD can do anything else but wait on Glencore unfortunately.
Glencore have alway called the shots, and always will.
Total stalemate with Glencore in my view, and AT far too involved in Vision Blue to be concerned at all about ZIOC.
Very sad state of affairs, and the Board should be ashamed of themselves.
I think the biggest mystery here is why anyone would be interested in developing Simandou when there is a lower capital cost alternative with easier construction and the same high quality ore in an adjoining country that is slightly more stable.
It's something I have never been able to understand during my many years of holding Zioc shares.
"Is it possible Vision Blue will have a relationship with ZIOC?"
Very little chance of that I would guess considering Sir Mick's past history with Glencore.
https://ca.proactiveinvestors.com/companies/news/977945/cornish-metals-hails-strategic-investment-from-mick-davis-vision-blue-resources-977945.html
This is where I personally think AT sees his future. ZIOC is in a stalemate situation with Glencore, so my guess is that 99% of AT's time is spent on Vision Blue.
I think that is exactly the kind of deal Glencore want for ZIOC too. The only problem is, the copper mine sale includes an significant offtake agreement in Glencore's favour.
That to me is the sticking point - I have doubts the Chinese would want to purchase and develope a mine where they had to then buy the ore from a third party (Glencore). The same would apply to another mining company too.
I am sure there has been enquiries to ZIOC over the years about buying the asset, but they haven't gone anywhere because of Glencore's insistance on offtake.
Just my opinion of course.
Plenty of sellers mixed in with the buyers, which probably tells something in itself.
Even though an update is due, nothing will happen quickly with KP2. Its located in the same country as ZIOC, another huge prospect that just doesn't seem to go anywhere sadly.
"I'd be very happy with 33p right now never mind 330p"
I'm starting to feel the same. Yes, we all know its worth 10x that as a minimum, but unless I can find the secret to eternal life, I'm not sure I will be around to see it.
Looking forward to Monday to see if the 35% gain on Friday was just AIM speculators or based on someone somewhere knowing something that we don't.
There has never been a Zioc leak though, so I my guess is it was just speculation.
A mention in The Times today about Glencore having 13 assets under internal review for disposal, as first mentioned last year in their Investor Update.
Lets hope Zanaga is one of the 13. probably the only way the project is going to move forward - unless BHP buy Glencore out.
We can but hope, as nothing seems to be moving at present. Personally I think AT spends most of his time on his other venture now, and has lost interest in Zanaga.
Would be interesting to know if the 2 x 500,000 and 1 x 1,000,000 delayed publication trades were buys or sells,
Anyone have deeper info access than me to be able to tell?
"Alot of ramping comments on Twitter for ZIOC. One even claiming AT has said there will be news early Feb.
Seeing as how nobody on this board has even been able to get any kind of response from AT for months, I also find this hard to believe - especially as we are already in "early Feb".
"Clifford Elphick, Non-Executive Chairman of ZIOC, commented:
"During the first half of 2021 the Zanaga Project Team have continued to progress key initiatives at the Project. "
....and during the second half of 2021 he will have to admit there has been no progress at all.
Some big sales today - looks as though either one or several holders are bailing out at whatever price they can get.
Bad news on the way?
Pity we were never able to discovrer how many shares were allocted to AT in place of wages. We might then have been able to take a guess whether it is him who is selling out.
Speculation perhaps that BHP have just re-entered Africa after a long absence, albeit with a nickel mine investment?
https://african.business/2022/01/energy-resources/bhp-invests-50m-in-tanzania-nickel-mine/
I did read in a different article that BHP were now more open to investing in Africa than they had been previously.
Having said that, the increased buys today, although heartening, were not large enough as regards volume to be meaningful. Many were very small punts, most likely based on Zioc being amongst the top risers.
Absolutely agree with Extrader. Could be good. Could be not so good.
Nothing positive has appeared as yet from AT's tie up with Mick Davis. In fact AT now doesn't seem to communicate about Zioc at all.
But, you just never know. Glencore are still in non-core asset disposal mode, so we can but hope.
While I agree AT may have been instructed not to communicate with shareholders, personally I think it is more to do with his reduced involvement with Zioc since his new venture with Mick Davis (Vision Blue Advisors UK LLP) started up.
I just don't think AT sees his future with Zioc any longer, although he would of course benefit hugely via his shares from any Zioc success.
Pure speculation on my part, but it is rather unusual for a company executive to be involved with a start up in the same commodities field - and with someone who has a long standing beef with Glencore (and vice versa).
The nudge seems to have worked, but the delayed RNS issue really makes me think that nobody at Zanaga even cares about Zanaga any longer.
They appear to be just going through the motions. Very sad.
I asked Bradley a similar question about a month ago, but he did not respond. He won't this time either.
There are no valid reason for anyone to buy CTEA unless they think they can pump it for a quick 10% gain.