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news due on EPP and possible commercial deals with steelmills so expect zioc to be on the top risers board when this lands

SQZ will be producing 28mboepd rising to 35mboepd with R3 so RRE is some way off, even once you factor in Aran.

Strong start to day 2 just breached 116p

There will be considerable people buying back in who de-risked before OFAC licence granted by US.

Those of us who held through will do best, but buying in now still secures massive upside on a future share price of £8 - £10.

Without even factoring in new acquisitions or Rowallan and Collumbus

Price held steady for a good few hours, with people waiting to see what happens (particularly those waiting for OFAC news before jumping in), but with future EPS expected to match current share price there is only one way this is going long term and its significantly higher than £1.11

Remember we will be generating earning of nearly £1 per share so even conservative P/E ratios put this at £8 - £10 per share once full production.

Would have expected news, maybe tomorrow now?

I think average production before the shut-in was 2,800 net to SQZ, although they regularly were exceeding 3,800 net so with a new clear pipeline and fewer shut-ins we should expect over 4,000 net once back online.

Further boosting free cash flow.

Now we just need RoC to stump up their 15% share of the port development costs and away we go

Looks like we could be expecting nearly 7,000 boepd from this well which would add a further £71million to our annual profits.

Actually, just re-done my calculations after looking at current gas prices of 73.26p per therm (which has increased substantially from my original figures below)

https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=142526&span=1

0.7326 x 55 per boe = £40.29

Production costs $14/bbl (£10.72) = £29.57/bbl profit

7.8mm boe per year x £29.57 = £230,646,000

Divided by shares (264,757,820) = £0.87 dividend

So we're currently trading at just over 1 x EPS

at 10 x EPS that would give us a share price of £8.70 so massive upside still to come.

Indeed Rhum#3 will add significant upside to already incredible production here.

Should give 7.8mm boe per year which should actually increase from the new Erskine pipeline and additional BK assets coming onboard.

With strong gas prices, expect this to generate £130m+ PROFIT per year, either returned to shareholders and utilised to increase production further.

Easy target of 500p+ once SQZ is keeping all revenues.

Contrary to lots of posters on here claiming there is nothing new in the interims, well I disagree.

1. They are securing cost estimates from the cold pellet plant developers - previously they've only had high level costs, so suggests things are moving forward here and I'd argue that given the success of the trials with the steel mills/labs, that they now need this move forward with potential pricing for any off-take agreements.

2. They have high level costs of traditional "hot" palletisation plants - something they can use as leverage to keep the cold pellet technology competitive, thus improving our margins in the long run. Also suggests that this is a viable option. Again this would be used to confirm EPP viability if cold not progressed.

3. Firm cost estimates are under negotiation for the logistics/transport routes to two exit ports, so sounds like they are playing them both off against each other to get the best deal moving forward. Links with the above points about working out total cost of production so they can calculate a suitable selling price for off-takes and again suggests it will be economically viable.

4. 1st mention of our ability to use Glencore's extensive network of iron ore traders - massive benefits of association here.

5. CRBC is engaged in discussions with Chinese funding institutions - note the present tense, not past. RoC also due to release their annual budgets, with previous suggestions they need to put up 15% of the port.

Exactly MM, that was one of the key points I picked up on.

So now ZIOC can approach some of the biggest buyers of iron ore globally to try and secure off-takes.

Seriously, you're asking about where our products are and have they been delivered to the coast because I mentioned offtake agreements? If you don't understand the purpose of offtakes, then you're sure as hell invested in a company you don't understand.

An offtake agreement is an agreement between a producer of a resource and a buyer of a resource to purchase or sell portions of the producer's future production.

Generally used to help secure funding for building the mine or guarantee a company's share of the mined commodity. Plenty of Chinese steel mills will be looking for offtakes in this.

News due from steel mill beforehand.

Offtake surely now on the cards here and it will be the 1st of many.

Background buyer continues to build stake.

Stage 2 would be producing annual profits of £1,642,680,000

which gives annual dividend of £5.80 per share

15 x EPS = £87.01 per share

$188 / tonne for 67% pellets

Stage 1 opex $24/ton

Cold palletisation $10/ton

= $154/ton profit

12Mtpa = $1,848,000,000

9 years = $16,632,000,000

Stage 2 Opex costs reduced to $22/ton + $10/ton cold pellets

= $156/ton profit potential

30Mtpa = $4,680,000,000

21 years = $98,280,000,000

Total profit over 30 year life = $114,912,000,000 ($115 billion)

Less $4.2billion capex

= $110,712,000,000

ZIOC share (45%) = $49,820,400,000

0.78 exchange rate = £38,859,912,000 (£38.9 billion)

283,201,033 shares = £137.21 per share over proposed life of mine.

Great share price action here.

I believe with other waivers recently granted it is looking increasingly likely that SQZ shall reach agreement too.

With a new port being considered at Pointe-Indienne (just north of Pointe-Noire) planned with a dedicated jetty for potash export, would Kore be a likely user of this facility rather than using the recently agreed offshore transhipment location?

So the Chinese write off the Congo's debt, which is on condition of the Chinese operating the port/SEZ, which will be funded by the Congo's 2019 budget currently being finalised, which will further be aided by the IMF finance package, which is on condition of all the above.

Everything is happening to link these up and once in place the true value of ZIOC's asset will be unlocked.

For those not aware, ministerial budget conferences commenced Monday 10th September in Brazzavile to prepare the budget for the 2019 financial year. It is their intensions to develop a budget compatible with the requirements of the IMF and conclude a 3-year financing programme which will help recover their economy.

Conferences will be completed on Tuesday 18th September so expect news shortly after this.

Dont forget, that Nguesso, his chief finance minister and the IMF all met with the Chinese president last week where it's believed some/all Chinese debt was written off.