Member Info for Moneyman64

On one hand we keep hearing from the BOD what a great resource we have with the quality of the iron ore is second to none - on the other hand they are prepared to give away 87.5% of the resource for peanuts to “mates” in an unknown consortium with no track record?

Which is it

They have already spent some $400 million plus proving up the resource -if this is indexed to take account of inflation it could well be almost double

That gives circa $800 million after allowing for inflation (approx 8% of NPV)

It is totally reasonable for the company to be paid for the work already carried out.

Also only half of the site has been explored there is a lot more resource excluded from the NPV calculation

The RAM raid is no where near a fair deal for ZIOC shareholders -the BOD won’t even tell us who the RAM investors are

The 4p valuation is there in black and white -the price of the recent fund raise.

Not all over the place-simply pointing out difference between RAM’s value and the current shareprice and the RAM valuation unlikely to be reflected in the shareprice anytime soon

I would value the company at between 5% and 10% of the Net Present Value of the Zanaga project which is unfortunately not as RAM see it that way.

15p is the value assigned by the RAM raiders (sorry the BOD of Zanaga) if the RAM raiders agree to cough up the circa$25 million to complete the FEED.

How often is a company valued at what the directors say it should be valued at -once in a blue moon

Since then we have had another discounted placings at 4p which is the current real share value determined by the BOD of a project with a net book value of $10 million plus

No where near 15p will be achieved by the 30th June if the deal proceeds in its current form.

Should be multiples of 15p based on the projects net present value of £10 billion plus.

It represents only a fraction of what has already been paid proving up the resource .

$150 million for 87.5% of the project to an unproven entity who the Zanaga shareholders ain’t even allowed to know the investors are in it!

Thanks Marcus.

Unfortunately they seem determined to go through with the RAM raid.

What about ugly sister GLR where the shareprice continues to fall due to apparant lack of progress on many fronts Mr Bird !

Datacheck -how share expectations have dampened.

You now appear to think that a LUANSOBE agreement will get the share price above a 1p.

Not long ago the shareprice was above 1p (before the totally unnecessary dilution and the strong possibility of mote dilution) and people were looking for a share price of 3p to 4p on a reseaonable Luansobe deal.Shows how a lackluster leadership destroys shareholder value and expectations

Our resident Bird cheerleader Chrisp puts the continued share price fall down to a thin market.

Why is there a thin market-lack of progress on many fronts,continued dilution and continued silences from our very part time CEO perhaps

The fall in the share price continues —Bird should hold his head in shame and resign so that someone can be appointed to run the company properly

People can post all they like about the booming copper price but Bird seems totally incapable of using it to boast GLR performance .

He seems to have given up here -not even any “hot air” interviews lately

Low sentiment here lies 100% at Bird’s door

Very funny-early retirement due to GLR.

The pace at which Bird is apparantly progressing things here most investors will be lucky to be above ground or in an OAP home before any shareholders return occur here

100% agree-we need a full time CEO running the company and not a part time CEO who appears to treat GLR as a hobby and obviously does not give the dedication and the hours that shareholders have the right to expect from their CEO.

If Bird has nothing to say after he has been in negotiations on the company’s projects for over a year he is either not doing a good job,his mind his elsewhere or he is totally incompetent.

The only things putting pressure on the shareprice is missed deadlines and non delivery

A higher dividend normally leads to a higher shareprice as the dividend yield would be better attracting more income seekers to invest

I am pretty sure that if the company adopted a still conservative policy of paying out 30% of profits after tax the shareprice would be higher.

I hope this policy will be adopted once Karo is in production and the major capital expenditure on transferring to underground mining complete.

A lot of miners payout at least 30% of their profits after tax as dividends

As communication with shareholders here is terrible we have not got a clue what Bird is upto.

I simply asked what is happening at Luansobe -is a deal being negotiated (which seems to be happening for a least a year) or not?

Totally reasonable for shareholders who own the company to ask what progress is being made

Unlike some hear I want to know what is happening and not just accept the status quo month after month which is becoming year after year.

A badly run company can still multibag just because of its underlying assets.

It might multibag by a factor of 3 but the same company well run with a CEO working fulltime might multibag by a factor of 6.

Nothing contradictory -just basic logic

At the end of June two years sets of accounts will have to be filled to be listed.

This is getting ridiculous -Companies can be struck off for not filling accounts

Shares suspended for almost 11 months due to audited accounts not being produced.

What sort of a joke of a CEO lets a company get into this state and why should the company/shareholders bare the fines for this.