Member Info for Moneyman64

Unfortunately a company with good prospects in a expanding/developing market has been ruined by the financial incompetence of it’s board and it’s no doubt “highly paid” financial advisors -it happens so many times on the AIM .

Hi Tharisa-I know the company is committed to Karo -( hope PGM prices recover in the next year)-if there is any spare cash how about Tharisa purchasing some of it’s shares

I’ll make one Bushyfailed -a conservative 12p by December

Let’s hope for a better week and the ZIOC stops “shooting itself in the foot”

The current valuation appears to totally ignore the current chrome price and assume PGM prices are going to stay at their current low level indefinitely .Seems to be valued on the same basis as SLP which has no chrome

With the 2025 vision of 2mts of chrome and 400,000 ounces of PGM I can see a bid coming if not now ,upon completion of Karo.

£2 per share would be cheap to secure the above .

Terry -short term battle victories very really win the war -Pgm prices currently being manipulated downwards -these could reverse very quickly

The bland wording of the result RNS and the open ended fund raising makes me think that the management did not the shareprice to rise at this stage

A positive worded result RNS with some references to what is happening in Congo could have seen the shareprice in the 20s -yet it is now bumping along in mid single figures

Same old aim -shareprice marched down to let “insiders” get more shares at “mates rates”

Should be an open tender offer or rights issue to be fair to existing shareholders -guess too much hard work and management might have to give more information about what is going on

Question -if Glencore sell their 48% surely the acquirer would be required to make a bid for the whole company as Glencore hold more than 30% of the shares

Hope the latest seller of 2 shares does not spend his 17p all at once,!

Sotolo you seem to be concentrating mainly on the current day to day movements in PGM prices which are totally irrelevant to Karo’s production at present as production only starts this time next year.The relevant PGM prices to Karo are when it starts producing and over the period of production of the mine.I much rather PGM prices are low now and higher when Karo becomes operational and not vice versa.-high chrome prices cushion the current lower PGM prices in the South African operation as you correctly state

18 months ago chrome prices were approx $150 per ton now they are just shy of $300 per ton.(there have also being significant reductions in freight cost)

If Tharisa were constructing a new chrome mine 18 months ago which came on line now I presume you would be posting a similar thread for seeing losses on the new chrome operation 18 months prior to it’s production came online,reduced profits and dividend cuts etc etc

As I have already said no one knows where PGM prices will be in a years time and what factors will be in play that will influence them

Just a thought if there are further unproved resources (which I believe there are) in the Zanaga licence area could a sale be some how constructed on the basis of current proved resources with a provision for further payments to Zanaga as more resources are discovered.

The initial sale monies could be distributed to shareholders by Zanaga purchasing a proportion of it’s own shares and shareholders retaining some shares to share in any future resources uplift

Sotolo -you make some very valid points but no one can assume that the price of PGMs will stay at their current low level for any period of time -frankly I don’t think anyone can predict the price of PGMs in three months time -experts or anyone else (Experts have a wide range of future price predictions) so in my opinion looking years ahead and predicting dividend cuts over say the next two to four years based on current PGM prices does not seem very logical and maybe jumping the gun -At the moment PGM prices are being talked/walked down but this can reverse very quickly as we know from past experience.if the huge platinium deficits predicted comes to fruition the price could shot up very quickly especially if some miners have ceased due to the current low prices.Trying to be balanced and not taking the worsted case scenario .

As for chrome who knows for the same reason -Tharisa has been increasing prediction of specialized chrome which sells at a higher price and Vulcan should now be nearing full capacity -what effect will this have on the bottom line?

I also think the market is regarding Tharisa mainly as a PGM producer and not a company which provides China with a large amount of chrome.

We are due the quarterly update shortly and the shareprice seems to move a lot on very small volumes-you can also throw into the mix an unexpected bid -who knows!-would have to be at a considerable premium to the current price but a serious investor would be looking further than the current PGM price

Everyone has their price -how much would be a “huge offer” acceptable to Leon -50p per share plus perhaps ?

How much would be acceptable to Mr Slater and other large shareholders ?

If there is some Glencore involvement who knows if they like what they see!

(No way Bushyfailed will get his 1p! here)

Although the shareprice has recovered very slightly from multi year lows it is still in a terrible place .The shareprice was higher a few weeks ago

Let’s hope the new CEO knows what he is doing and the small rise (in relative terms) is not a dead cat bounce .I sincerely hope that we can see at least a double figure shareprice again in the not too distant future and the deramper posse are proved to be very wrong.

Terrible finance option -if Glencore wanted Zanaga to be a success they could of funded the working capital requirement out of petty cash

Minorminer -really appreciate all your research and hard work .

Unfortunately the current management seem incapable of taking advantage of current iron ore market situation and have managed to decrease the shareprice by more than halve over less than a week -appear to be clueless

10% but no chance of winning Veteran -just Glencore and Elphick have way over 50%.

Shareprice continues to nosedive due to continuing bumbling as the company had not all it’s ducks lined up to take account of current conditions

Veteran10 -if the management have tunnel vision and ignoring everyone except China this would not be acting in the best interest of shareholders.

Unfortunately shareholders will never know because they have no access to this sort of information ie board minutes and discussions and questions in relation to this theory are unlikely to be answered-perhaps raised at AGM

E x trader -even if they were close to a deal the “going concern” would be relevant as a deal is not certain until it is signed -