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Clifford Elphick, Chairman of ZIOC commented:
"Due to the strong belief in the value potential of the Zanaga Project, and in an effort to avoid burdening ZIOC with cash remuneration, for the last few years none of the Board members or management team have received any remuneration. I am pleased to report that the Board and management team have accepted a reduction of 65% to the value of their deferred remuneration, and have agreed subscribe for shares in lieu of cash payment in order to preserve the Company's cash resources.
I would like to thank my fellow board members and management team for this continued support and belief in the future value which we expect to unlock in due course."
Let's remind ourselves and the multitude of buyers today why we're all here..
o Feasibility Study update - End 2023
o Hydro power PARTNERSHIP - Q1 2024 (Memorandum of Understanding)
o Port PARTNERSHIP - Q1 2024 (Memorandum of Understanding)
o Strategic PARTNER initiative - Q1 2024 (Memorandum of Understanding)
"Following the acquisition of full ownership and control of the Zanaga Project we are now engaging with strategic entities interested in participating in the Zanaga Project, and intend on securing a selected PARTNER by the end of Q1 2024."
This is absolutely the end game now for the 5th largest Iron Ore resource in the world!!
Same cash reserves as 3 months ago as well which would suggest very little sold by Shard. All that selling was likely the disappearing derampers that haven’t posted for a while now.. no doubt buying back in now on the news yesterday..
“This strategy intends to leverage recent discussions with potential partners in order to progress the Zanaga Project through specific work programs to derisk the project and enable the financing and ultimately the construction of the project in due course.”
Following the acquisition of full ownership and control of the Zanaga Project we are now engaging with strategic entities interested in participating in the Zanaga Project, and intend on securing a selected partner by the end of Q1 2024".
Boom time..
This is a little gem too..
“has the potential to deliver substantial iron ore production to strategic customers looking to secure positions in the commodity.”
This is different to the strategic investors. This is strategic customers, and hints at those with little to no positions in the commodity at present. Our Saudi friends perhaps..
The big difference between the UK cost exercise and this one is we will have a blueprint for every aspect of the construction phase and the company/s that will build it. The good thing about the Chinese EPC company is they’re bringing a potential 20% reduction in CAPEX. The company has stated once complete they’ll put together an exec team and bring finance in.
“ we believe that increased resource independence will provide impetus to strategic investors in China and outside of China to secure access to globally signifiant assets, especially outside Australia and Brazil - for Chinese investors. The Zanaga Project therefore has the potential to deliver substantial iron ore production to strategic customers looking to secure positions in the commodity.”
No reliance on China as they’ve mentioned above about outside investors.
Interesting use of ‘impetus’ as well.. “to encourage a process/activity to develop more quickly..”
The clock is ticking and there are likely many investors lined up for a part of this. Let’s see what the interims bring and Q4..
Plumbs, your responses are so moronic. This line was an absolute belter ''i'm posting the way the stock is heading, doesn't mean i want it to go there''..
I've got no issues with the financing or the current on-going work. Looking forward to the September interims and then Q4. The main reason the share came down is because the company said they expect to update in Q4.. they've pretty much given people an out for 3-6 months to trade elsewhere and come back if they want to..
Nice to see extrader giving some balance to the boards, someone obviously wants the price to stay low for a bit longer..
Plumbs has changed their tune.. 2 weeks ago this was headed to 3p.. now 15p.. motives are very clear on this board..
plumbs
Posted in: ZIOC
Posts: 160
Price: 4.30
No Opinion
RE: Words Fail Me !25 Aug 2023 16:25
Disaster financing...
probably be back at 3p the way this is going....wtf were they thinking?
Who says a deal isn’t already done in the background? I don’t think they’ve asked a company, that builds iron ore mines, to cost up building an iron ore mine with Chinese contractors for s**ts and giggles..
It’s got nothing to do with reducing costs by 20%. It will be a blueprint for the project and the contractors/companies in place who will build everything. This is literally the FEED stage of the project. After this is finance. I wouldn’t dare be out of this now, let alone for interims and Q4..
For those who don’t read the RNSs.. Elphick hints at the share price being much higher in the near future as the project progresses and milestones achieved. That’s why they’ve done the raise like this because they expect us to be at a much higher SP in the near future..
Clifford Elphick, Chairman of ZIOC commented:
This transaction enables ZIOC to secure capital in the future as the project progresses and further milestones are achieved."
So you ask why the report hasn’t been addressed.. I address it.. and you decide to spout some incoherent nonsense and do some more name calling..
Think someone might be up past their bedtime?..
It was the bullet points from the ‘report’.. you obviously haven’t even looked at the website..
You’ve also run out of coherent thoughts as all you do is revert to name calling..
Just make sure you post on the right account for your next reply
Oddly enough I’d missed this because you were too busy posting on different accounts. Good to catch up now though. Their pricing is a joke. £2k for a 1mb pdf.. could probably get more detail from the vast presentations on the Zanaga website..
This report includes 12 images and tables including:
Detail Map
Participation
Marketable reserves (at 01/01/2023)
Production
Operations
Infrastructure
Cash costs
Capital costs
Product quality
Economic assumptions
What's included
This report contains:
Zanaga.xls
XLS 217.00 KB
Zanaga iron ore mine
PDF 1.07 MB
How hard is 4kandles trying to make sure he doesn’t post under Moneyman by mistake again..
Jiving, next update will likely be the interims at the end of September. We should get some sort of indication of how quickly the Chinese EPC partner is moving. I think we then get out of the blue RNS in Q4. Even from start to finish if the Chinese EPC partner were re-costing the CAPEX and putting the companies together to build an iron ore mine, I wouldn't expect them to take more than 6 months to do that. We might see some buying into the end of September, and potentially through Q4 in anticipation of news..
Jiving, last time the 1st tranche took 7 months to place the shares. Roughly 33k shares per day as an average. The selling we’ve seen is far higher than this, so going on history it doesn’t look like Shard at all. But, who knows for sure, maybe they’re in a rush to pay back the loan?
Although, I don’t think that is the case because the loan could be negotiated and paid back at a later date very easily.
The Shard facility was purely to meet the going concern. And quite frankly, we shouldn’t need any of it as once costings are received, whatever deal has been agreed in principle, will likely then be announced. I believe that’s why we couldn’t do a regular share subscription to raise funds, because there is a lot going on behind the scenes that we don’t know about.