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"Any offer at this point would be deemed derogatory you would imagine..."

The same can be said of RRE atm .... although tomorrow, £25 offer and a lot would take that now imo.

"Australians to buy Zioc to prevent China acquiring it..."

Not a chance imo, although I would have thought could well be a prelude to forcing the game into a sealed bid scenario.

Now that I would like. :-)

Release Date Time Actual Forecast Previous
May 20, 2020 10:30 -4.983M 1.151M -0.745M

Release Date Time Actual Forecast Previous
May 20, 2020 10:30 -4.983M 1.151M -0.745M

SQZ are get more Expensive by the Day, if anyone wants to do a deal, they had better move quickly, now is not the time to delay.

Offer me +158p in the next 2 weeks, I'm yours !!! ..... otherwise, forget it.

{;-)

OM, think we will need to wait until after b/h, Monday, June 1st sounds good to me.....

atb

sasa,

"we also have over £100m in the bank in case you hadn't noticed - sasa....." lol, I was keeping that one for Tom's reply !!!

btw, probably closer to >£110m I would hope.

atb

Tom,

You have made your point, enough now, although you will be hard pushed to find anyone that will agree with you here.

How's you debt ridden Enquest doing btw, oh fyi, SQZ has NO debt.

atb

upomega,

If there is to be a t/o, an all cash offer in today's climate would be the least likely imo, probably a mix of equity and cash. Where equity is involved in the deal, you tend to get a better offer as there is a discount for the suitors shares as there is no guarantee of future performance. But what do I know, so long as we have our main man, 'Kiosk Kate' on the case.
atb

Rellim,

SQZ have several plans in place atm. The Long Term Incentive Plan, a Discretionary Share Option Plan, Share Incentive Plan and a historical share option plan (which has ended but still has remaining outstanding options). AFAIK, these link to several criteria other than SP performance, ie individual performance bonus, retention award etc.
atb

Just reward imo .... similar LTIP was also issued for 3,784,765 shares back in March 19 too.

Just means more skin in the game, although at nil cost (which is not an issue for me btw).

Indeed, the BoT's are still at it ... on Friday, it it was not for them and the small 'managed' O trades, the market for SQZ was virtually flat !

This tells me no-one is willing to part company with their shares atm. SQZ has a LOT of long term holders that know a well run company when they see it ... don't think BP would have taken 5% share capital in payment if they too didn't think so back in the Erskine days.

The BoT's are there for one of two reasons imo, either to churn'n'trade, could be AXA, Hardy's or anyone tbf or for someone to build a position via holding MM. I would like to think it's the latter.

atb

Flexmw,

Mainly from three points:

1. Why mess around dropping from 11.04% to 10.99%, by selling a tiny 0.05% and then going to the trouble having too notify company. The reduction was planned for minimum amount of sells to get the TR-1 issued, so forcing SQZ having to RNS TR-1 the change. SQZ is NOT a fire-sale company, far from it, better shape than ever in its history, poised for our SP enter the long awaited much higher trading range too.

2. Get PI's to sell by thinking our second largest holder is selling out, so to create some much needed liquidity for AXA, hence "Cat 'n' mouse". BTW, it's not only PI's that read RNS, BoT's do too !

3. Remember, AXA upped their holding from 5% to >11% only 9 months ago when our SP was well above where it is now.

I may well be wrong in my reading of this TR-1, but that's the way I view it ....

atb & aimo

"AT was saying how speedy the Chinese are... "

That is certainly the major UNKNOWN factor. How much they want ZIOP will no doubt become clear in the next few weeks / months.
atb

Once we get the futures rolled over next week, which may cause a little turbulence (remember negative pricing last month), we should be on our way.
PS. I would hope that the POO traders and speculators would have learnt their lesson from last month.

Guys, don't forget it was ONLY 5 months ago that the Framework Agreement with COIDIC was announced:

· Framework Agreement outlines the process for co-operation between the Parties in the development of mining related infrastructure for the Zanaga Project

· Infrastructure to be evaluated will include rail, port, power, processing plant, road haul, and mining activities relating to the Zanaga Project

· Priority initiative is to assess the option for development of approximately 2Mtpa of iron ore production at the Zanaga Project which will be delivered to the Pointe Noire SEZ in the Republic of Congo in order to support the proposed development of a steel production facility

· The parties intend to develop a joint initiative to introduce funding partners for the Zanaga Project and its related infrastructure, with the aim of securing debt and equity financing
----------------------------------------------------
Now 5 months in the greater scheme is a very, very short time particularly with the operational impact of Covid-19 to get much meat put on the bones, I do however expect progress to have been made, although not as much as many would want.

The SP rocket, will of course be "introduce funding partners" ..... as this will fully outline our 'role' (remaining or otherwise) in the project going forward. My guess is this will also the last point to be nailed down.

aimo

To add, don't forget that AXA in March TR1 an INCREASE in their holding from 10.04% to 11.04%. Now sitting at 10.99% is still (~2.5m shares) higher than 2 months ago. Prior to this they moved from 5% in Sept 19. As I mentioned, I think the reduction to just below the notification level is strategic and would not be at all surprised that their next TR1 will be well above current holding.
Cat 'n' mouse ... aimo

Good news, looks like a strategic reduction to 10.99% .... so now can buy, buy ,buy with impunity, next notification will be well over 11% imo

Because she's a bit of a w h o r e , there's nothing for free in this game !

"Why does this share have such a large spread a lot of the time?..."

Because she's a bit of a *****, there's nothing for free in this game !