Sorry Jay I don't buy that COVID has stopped the momentum. The ore is still in the ground. It's not like it's in operation with ore being shipped around the world. This is a 30 year project. Something isn't adding up in this region. Trahar is always upbeat. That's his job as an investor relations man. Have a smile on your face and spin bull s.h.i.t. on a daily basis. The dangerous thing for investors here is most seem to think this is a sure thing. Like one day no matter how long it takes their boat WILL come in. A lot can happen between now and whenever. Something stinks about this deal. Something isn't adding up. If this was such a sure thing why haven't China made a move before now? Almost ten years since the float and all it's done is go down and down.
I hope you're a young man Jay. Otherwise you might be wise like Extrader and swap your shares into your grandchildren's names. If I did I'm sure that in the distant future my grandchildren will ask why did our grandfather buy these c. r. a. p. old mining shares.?
I can't complain. I did very well out of these the first time round. Bought 200,000 at an average of 4.7 and sold for an average of 17p when it hit the 25p spike. Bought my present 250,000 holding at an average of 9p so under water. I believed the claptrap at the time but no longer. I will exit at 12p which in my view will be a acceptable profit. I'm just praying for another pump. So come on Trahar get busy with your fairy stories on Twitter. Good luck all holders.
Jonny you said "Ok so only 10 weeks max...possibly before for an update Extrader"
Don't you know? That's what people do on this thread. They live from one update to the next. Wishing and hoping and hoping and wishing that the next update will be the big one. The game changer. The big deal clincher. That's how Trahar operates. He keeps dangling that carrot. I'm not fooled anymore. The man is a charlatan. A huge can kicking charlatan at that. Me I'm just waiting for the next pump before I dump this pile of rusting c. r. a.p.
Name calling hardly helps you getting your point across. Seems very childish to me. You've hit the nail on the head though. You say the SP will also rapidly rise every time we expect meaningful news. Reading the last RNS that looks some time away. Don't worry though Trahar may pop up on Twitter with more twaddle. He spins a good yawn I'll say that for the bounder ha ha
Here is a piece from the December COIDIC framework update. It seems to have gone very quiet on this front. I read your replies about the questions GTA5 posed and I'm not convinced. Something isn't adding up.
Construction and operation:
The Parties also intend to explore specific aspects of the 30Mtpa staged development of the Zanaga Project, comprising Stage One production of 12Mtpa and subsequent expansion to 30Mtpa. These aspects include mining and processing the Zanaga orebody, logistics and civil infrastructure (including the pipeline, port, rail (where applicable) and roads) and power infrastructure (including COIDIC's planned SEZ natural gas power plant as well as hydro power solutions under development or being planned by COIDIC's partners).
It is the intention of the Parties mutually to utilize the expertise of COIDIC's shareholders acquired in delivering large scale infrastructure projects in an accelerated manner, with the aim of significantly reducing the investment needs of the Zanaga Project and shortening the construction duration of the Project.
Equity and Debt financing: it is the intention that with COIDIC's assistance, seeking and obtaining equity and debt financing for the Zanaga Project could be facilitated. 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.
So why have they gone for a keep the lights on option? A tiny bit of money will just be enough for Trahar to bull s..t us for another year. I suggest people re-read the December framework update because beggar all as happened in the seven months since. Oh I forgot a c. o. c. k. and bull survey about a floating port that will never happen.
GTA5 raises an excellent point over on ADVFN. See below. He's right something doesn't add up.
The one part that concerns me is that there is virtually zero institutional or commercial interest and the ones that had large holdings have divested.
At 6p/share anyone could pick up a significant % of the company yet none has. Why is that? the NPV is without a doubt in the high $BN's yet 50% of the project owner is at $25M.... there is something in that delta that does not compute. What's missing? why are all the big boys not fighting like sharks to get a piece of this? (and yes, Glen controlling it is a small part of the answer, where perhaps there would be a discount to the non-controlling part of the equity in ZIOP but does not explain the huge discrepancy....
Don't worry Sid. First good pump and I'll dump the 60k I bought at 4.8p. The other 200k I'll have to wait a little longer unless I want to set it against the original purchases I bought and sold three years ago. I did very well out of them 200k bought at an average of 5p sold at an average of 17p. I no longer believe the story but good luck to all of you who still do.
Lynthip like a lot of people here GTA is a long suffering shareholder accustomed to the can kicking bull s...t that Trahar and co come out with. He called it spot on. My only regret is not selling out at 12p on the last pump. You keep believing this buyout fantasy. That's all it is fantasy. Don't worry though the last small can kicking fund-raIse will guarantee a years more surveys and blah blah blah whilst we all hope tomorrow or the next day will see our boat come in.
Here is a prediction from a Poster on ADVFN three days ago. I think he called it spot on.
1. The cankicker: COIDIC talks ongoing but no breakthroughts more when COVID subsides. (read: Chinese holding the keys to the kingdom and not playing ball. Also have Nguessos balls in a vice and not in the mood to pay billions to someone holding an old piece of paper with Mining rights somewhere far away in the jungle.
2. New opportunities and More Jam around the corner! joining up with Sapro and Sundance and "New unexpected company inc." Consortium To investigate and study joint routes to market via Gabon or north RoC: (read: Distraction! "EPP+" Floating port, cold pellets....)
3. Funding sorted marvellously, no concerns about continuing operations for the next 8months. Jumelles funding ongoing and Glencore supportive. More share incentives and cash burn restrictions.
4. Note from Chairman about the improving markets and strategic importance of Iron ore security and recovering price that high grades are achieving.
I hope I'm wrong, but it's getting a bit tedious to see no real progress behind the scenes. In hindsight I wish I had invested my money elsewhere for the last 8 years, it would have been a different story. Now and soon at 3-4p (that I think it will hit again) it will be a 100-1 chance of being a smashing hit. (Not the 10-1 I was hoping for). Back to the bottom drawer for me.
I'm wondering if we are going to get an out of hours update? I ask myself has this company ever surprised to the upside? Answer No. Plenty of pump and dump but in the end it's all hot air. Unless they have real progress with COIDIC I fear you'll be getting your wish for more "cheap" shares Jay.
Caml you are quite right about Trahar. He told me also that they had several funding options available and the talks with COIDIC funding etc were well under way. The latest tiddly bit of funding will provide one years bull s. h. i. t and more carrot dangling in my opinion. We'll see. As the day wears on I'm getting less optimistic. Hope I'm wrong.