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He certainly was a "special one".

Love to hear from him again about where it all went wrong (for him).

There was a chartist on this thread a little while back who seemed pretty convinced he knew what he was doing. Went by the name of PRO_TRADER

I've previously tried to research Oasis crescent's investments but I can only seem to find their bigger investments listed, of which Zioc isn't one.

I get the valuation of the mine, I just don't see cash changing hands for our shares. But yes I do agree valuation wise. I can't see why anyone should sell this 12 years down the line for any less than the IPO valuation.

I'm inclined to agree with that opinion ET.

Much more likely an investor will take a stake in Zioc on the understanding they will fund either all or a percentage of the development costs.

Whether that's development costs for small scale, stage 1 or the whole lot remains to be seen.

I appreciate your boundless enthusiasm MM and certainly some of your posts are relevant and newsworthy although I do think some of your joining of dots is way OTT. Never the less thank you for the time you must spend researching.

Sustain can you post a link to the article please

Just out of interest, how long have you all been invested in ZIOC?

I've been here about 6 years now.

Anyone been here since IPO?

My own opinion (FWIW) is that we're unlikely to see any cash changing hands in the immediate future for our shares.

I think it's more likely someone , be it one of the big iron ore miners or a Middle East investor, will agree to fund the stage 1 (12mtpa) development in exchange for a percentage of Zioc. Perhaps as much as 50%. This would of course dilute us considerably but would result in us being shareholders in one of the biggest fully funded iron ore mines in the world.

In terms of valuation, assuming the investor put in $3 billion for their shares that would give us a company valuation of around $6 billion, or an individual share value of around $5.

AIMO

Yes, definitely reassuring to see the reduction from Astaris.

For a hedge fund to be increasing their short always gives me a slight concern that they have some inside info we're all missing out on.

On this occasion I have no idea why Astaris were increasing recently but at least they're now doing what I would expect.

All being well this contract is just the first of many to come. We could hopefully get out the other side of the SFO debacle a stronger and better company. If we continue our diversification into renewables we could end up bigger in the long run than we ever were.

Yes it really is about time to see some big news. Iron ore mines are back in favour, it must be our turn soon.......

Exact losses of the shorters are somewhat irrelevant to us anyway. We don't need to care.
We're all long on this share and today has been an awesome day for any holders of this share but in particular anyone who's been holding long term like myself

No problem Johnny. Not having a pop at you, just the figures on that website are nonsense.

In simplified terms Astaris borrowed 1.4% of Petrofac shares (roughly 7 million shares) and sold them for 49 pence each. If they had to buy the 7million back today it would cost them about £2.5million more than they received when they sold the shares at 49pence.
These are very rough figures but should give an idea of the losses they suffered

As far as I can make out Astaris are not a big hedge fund. I expect even a £2.5milion loss would be enough to significantly hurt them

Great and very welcome news today. I'm still a long way off breaking even but reassured about the company's future after today.

Not sure where these nonsense figures are coming from though regarding shorters being down £800million.
Absolute rubbish.
The mcap of the whole company even after today is only about £435million.

Taking Astaris as an example. Assuming their whole position was taken out at 49pence (which it wasn't) they would still only be down about £2.5 million today. Not an insignificant amount but certainly not in the hundreds of million.

It's hard to understand the collosal amounts of money being put into Simandou when for a fraction of that money Zanaga could be developed and producing. Pound for pound it's difficult to see how we aren't the better investment.

"PRO_TRADER" is either a troll or someone with the deluded belief that his comments on here will make a difference to the price he can buy in at.

If we were all chartists we wouldn't be invested here.

Yes you can call this a speculative investment but most of the people here have been invested for many years and are fully aware of the risks and potential rewards with this share.

"The Belinga iron ore deposit is located 500km east of Gabon's coastal capital of Libreville, and is expected to produce some 30 million tons of iron ore annually. The project is the country's largest investment and one of the largest in the region. It will include building the Belinga iron ore facility, a deep-water port in Santa Clara and 560km of railroad track from Belinga to Santa Clara in order to export the iron ore. It also includes two hydroelectric dams to provide power to the Belinga facility.

Originally project costs were expected to be USD3.5billion; however, at the time the mineral rights agreement was reached in July 2008, it was reported to be around USD790 million."

The above copied and pasted from a website called Banktrack.

Reading all that it seems odd that anyone would pursue the development of Belinga as a preference over Zanaga. I suppose the fact that FMG don't have to pay for the mine (ie Gabon government will give it to them for nothing as long as they develop it) whereas if they want Zanaga then there will be a financial cost to purchase the mine before you even start developing it.

Drago, nothing wring with a 6p average. My average is more like 10p. I would have bought more at 2p/3p but my money has been tied up elsewhere for the last couple of years now so I will be just retaining my core holding.

I can see both points of view regarding ultimate share price here. Shrewd you are probably right the share price isn't going to be suspended for an immediate sale at £2 or £3. However with the size of our mine and quality of the ore there's nothing to say that the mine won't eventually be worth in the £billions. It is just a long way from there at the moment.

Have you seen the MCap for Sigma Lithium in Brazil. I appreciate that Lithium is the flavour of the month and the mine is in Brazil but looking at the scale and life of the mine it doesn't even seem to come close to Zanaga in terms of potential long term income. In fact I don't know of any undeveloped mine other than Simandou that can be compared to Zanaga in terms of resource.

Not sure that's quite right ATG.

At IPO price of 156 pence, ZIOC owned half the mine and had roughly 280 million shares.

ZIOC now owns 100% of the mine and has 593 million shares. So dilution currently stands at around 6%. Not too bad after all these years.

I trust that no one is Lion.