Looks like Dirty Harry has gotten all angry with me. Ah bless. Still no trades today btw. What does this tell you? It tells you that everyone is waiting for the fall out in June. The BOD will can kick until the inevitable funding crisis that awaits them. See you in June.
Look at how many trades there have been today.....................zilch
Says it all really. Nothing to get excited about here. Just waiting and waiting and waiting for that inevitable substantial dilution to ordinary shareholders...............................sorry, I fell asleep there for a moment! Nobody is listening to what the angry man guarding wasps have to say on here. Most investors are waiting for the inevitable fall out that will present itself in June. I can't wait to see it either. Got the popcorn and lemonade ready.
Extrader - the man who knows it all. I'll be the dog and you can be my vomit. Nobody really cares too much about what you have to say. Clearly, you were not aware of recent updates, hence your comment to me last week.
My bad , the risk warnings have been updated to reflect ' new news'. You said this to me last week, so nobody trusts you.
There is nothing you or anybody else can do to hide from the facts that have been presented to you over the last 6 months or so. The facts are there for everyone to read. Not my words btw. They are the words of the BOD.
Veteran, you are talking to an ex lth who held shares for 3 years. It was like watching paint dry and all I am trying to do is make people aware that there are risks and I have highlighted them from recent rns statements, but it is met with vile replies and ignorance tbh.
So one or two of you are slowly coming around to the truth that dilution is on it's way, but none of you will ever admit to yourselves that there is a high probability that this whole project may never get off the ground and it is ordinary share holders who are going to feel the brunt. I must be the only person who has major doubts then.
I still think most of you are missing a trick here. There are absolutely no guarantees that this project will ever get off the ground and no guarantees that Glencore will help with any future funding. That coupled with an unstable country rife with corruption and what you have is a recipe for disaster. They even say in their recent rns statements that ordinary shareholders are going to suffer substantial dilution and still you make me out as some crazy deramper on a mission. Am I the only one who has seen through all of this white noise? Surely not!
AT is bound to say that they are comfortable regarding funding - it states that in the June rns I was referring to last night. What he won't tell you is that they are funded up until the end of May and then they run out of cash. Again, it is all there for you to read if your eyes were open. Come early June, then watch the substantial raise come into play imo. PS - I don't need any night nurse Sooty. I am sleeping like a puppy dog at the moment. It is you lot ho will be having restless sleeping patterns after May and I am watching my predictions play out like they always do. I am never wrong and have called it right with every one of my predictions.
There is no set rule for how much to invest imo. People can invest whatever they like and if the fundamentals stack up, then fair play is what I say.
AT's reply to the investor below is just reiterating what is in the June 19 rns I quoted yesterday evening. However, that very same rns also mentions that there are no guarantees that funding and the project itself are a 100% guarantee. I got out at 9.52p with an average of 16p so not at the bottom as per previous posts suggest. My losses here were recovered in the space of a fortnight at EUA. I don't ever wish to be a LTH with any share I hold in the future, rather ride the wave that is called the AIM. I see it as one entity with many companies that you hop on and off - a bit like using the London Underground. As soon as you find yourself as a LTH, it means you have failed to profit from the share and are anchored with an average above the current sp. Many of you would argue my case, but if you do, it is likely that you have averaged up or top sliced or indeed averaged down. For me, ZIOC represents a huge risk and is best avoided. I am entitled to my opinion and have backed up my reasons by copying and pasting paragraphs from last June's rns update. AT's recent email below is wooly and contains no content or guarantees imo. Be careful with this investment folks. The signs are all there in recent rns statements.
No, it is from an rns last year actually, less than 12 months ago. The fact that most of you if not all of you are turning a blind eye to this direct message from the company to investors is astonishing. It is there in black and white for everyone of you to read. I am not deramping something which is in written word for all of you to take note of.
Thanks for the compliment Dr Remington. Below paragraphs are the reason why I ran a mile. For those investors who still dream of 25 bag potential, I suggest you read and digest this information below before losing thousands of pounds in a white elephant.
Risks relating to the agreement with Glencore and development of the Zanaga Project
The Zanaga Project is majority controlled at both a shareholder and director level by Glencore. The ability of the Company to control the Zanaga Project and its operations and activities, including the future development of the Project (including any variant such as an EPP development) and the future funding requirements of Jumelles, is therefore limited.
The future development of the mine and related infrastructure (including any variant such as an EPP development) will be determined by the Jumelles Board. There can be no certainty that the Jumelles board will approve the construction of the mine and related infrastructure or any variant thereof such as an EPP development, including the taking of preparatory steps associated with the construction of the mine and related infrastructure, such as front end engineering and design, or the undertaking of work needed to assess the viability of an EPP development or any component part of an EPP development.
Risks relating to future funding of the Zanaga Project
Under the Joint Venture Agreement between the Company, Glencore and Jumelles of 3 December 2009, as amended (the "JVA"), there is no obligation on the Company or Glencore to provide further funding to Jumelles. The Company and Glencore have reached agreement on a work programme and funding of the Zanaga Project for 2019. As such agreement relates to 2019, there is a risk that after 31 December 2019 Jumelles may be subjected to funding constraints and this could have an adverse impact upon the Project. Moreover, discretionary amounts are contained in the 2019 work programme and budget; these require the joint approval of ZIOC and Glencore. It is possible that as regards certain items, joint approval would not be forthcoming.
The Company will not generate any material income until the an operating stage of the Project has been constructed and mining and export of the iron ore has successfully commenced at commercial volumes. In the meantime the Company will continue to expend its cash reserves. Should the Company seek to raise additional finance, it may be unable to obtain debt and/or equity financing in the amounts required, in a timely manner, on favourable terms or at all. If ZIOC raises additional funds (including for the purpose of funding the construction of the Project or any part of the Project, including any small-scale start-up) through further issuances of securities, the holders of ordinary shares could suffer significant dilution, and any new securities that ZIOC issues could have rights, preferences and privileges superior to those of the holders of the ordinary shares.
I sold my Sound & Zanaga shares at the same time for a loss and invested the combined amount I had left into EUA and doubled my investment in the space of 2 weeks. Trust me, I did not want to sell my shares in either company, but look what happened over at Sound and look at what is happening over here with this stagnant can kicker. I recovered my losses in other words and now my cash is safe in a bank. Once I pay my mortgage off over the next 20 months, I will try my luck again, but not with this company I'm afraid to say. If you class that as me being bitter, then so be it, but I class that as being calm and calculated. In my situation, it was a very brave thing to do, but it paid off and it was the right choice in the end.
I see the deluded investors have reappeared claiming figures of £2 will result in their early retirement etc. Absolutely not going to happen imo. What will happen is that Glencore will absorb this for very little, ZIOC will delist and go private or the Chinese will swallow it up for peanuts when the money dries up or a combination of all three options.
When is this main event going to happen? They have depleted funds and will have to substantially need to raise more cash if they are going to develop this further. In addition to that, they are not in a stable environment. Africa is best avoided imo and I believe that it is important that AT makes more of an attempt to engage with private investors. You all know how AIM works. I would never expect him to ramp the life out of this - remember, I was invested at Sound and we all know what happened over there and I know AT is not that kind of bloke, but at least engage with investors and create some excitement around this. Am I asking for too much? Not really.