Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Thanks for the responses. It is always interesting to get the views of others that may look through a different lens.
I'll need to decide how much to keep when I look at my CGT position for this tax year tomorrow.
So sad. Puts our frustrations with this stock into context.
One final point.
My big debate now is whether to bite the bullet and write off £75k against future gains and sell up then reinvest in chariot, where I also have a sizeable holding. They notonly have a large asset and are developing it, but the BoD are fantastic, delivering on their promises and committed to their shareholders.
The one thing stopping me is that slim chance there is a deal to be done and I could guarantee if I sell it will come the next day !! May be I should do it for all you other long term sufferers !
GLA
Beardozer,
Fully agree their hands are tied somewhat with glencore but that does mot prohibit them to communicate things with their shareholders within the regulations.
We used to communicate things all the time along the lines of "we have opened discussions with company x that may or may not reach agreement and we will keep shareholders updated with progress etc.... ". So long as it is factual and not blatant ramping or clear share manipulation it is reasonably flexible.
All that said, it was 5 years ago since I stepped down but I doubt the rules have changed that much.
My frustration is not that they are controlled by glencore, I knew that when I invested around £100k, it is their blatant disregard for shareholders who have been funding their lifestyle.
I think AT has got nothing of any substance to say. I suspect he is now finally as jaded as all of us loyal shareholders.
As I said in a post a while back, I have invested in shares for 30 years (small and large companies) but this is the worst BoD I have ever come across from a shareholder viewpoint. I have also been a CEO of public company so I would like to think I have some rudimentary understand of how the BoD should expect to behave.
Turtlewax,
Yes, Andrew spent many months in Dubai in s****y hotels and topping up his tan, no doubt at our expense, so may be, just may be, it may have been worthwhile.
Personally I think we are stuck sub 5p. I have never, in 20 years, held a stock where the BoD communicates so little to their shareholders.
I have held 1.5m shares in this for 5+ years and I am now on the cusp of selling and ploughing into Chariot because they have an asset they are developing and a very good BoD keeping everyone up to date.
GLA
I thought it was a very good interview. The key points I took from it were:
1. Reiterated the millions of their own money they have invested.
2. The flow of news due shortly, particularly the re-rate of Achois and the offtake agreement then using this to get very attractive financing
3. The commitment to getting to cash quickly and rewarding shareholders
It is difficult to see where there is a downside to this but I have been caught out in the past where the BoD have lied through the back teeth and never been prosecuted.
Shrewd,
I understand your sentiment, as I have held for 10 years. The difference this time is they have discovered an asset and they can get to it. They have also reiterated that they will debt finance the infrastructure rather than issue more shares, to the tune of $300m. Three things are going to happen to accelerate this
1. The audit of the results of the discovery
2. The gas off take agreement
3. The finance package
All will happen within 6 months IMHO. Point 1 may trigger the rise, but more likely point 2.
Char looks exceptional with their anchois discovery. As the IC article said, "it is rare an investor can see a multi bagger in advance"
The difference between char and zioc is that char have a board actively moving the asset forward and have many other projects as well. I am very tempted to dump my zioc shares and put them all into char to try and recover the losses
NewKOTB
The problem with your theory is that is the same argument a buyer will use to drive down the price. I have bought and sold businesses but know little about this industry.
I suspect the 2 accelerators to value will be signing the offtake sales agreement and then signing the financing agreement.
Some great posts on this board are helping me tremendously.
Our iron ore may as well be on the moon. Until someone is prepared to invest, it is worthless and ore prices are irrelevant.
What concerns me is that the clock on the licence is ticking. How long before the government get impatient and issue a use it or lose it notice ?
Any views most welcome.
99
Pity we aren't a mining stock ! After being invested here for 5+ years (yes I know that makes me a newcomer in ZIOC terms) we are still dancing around the handbags and the stuff is still in the ground, not being mined !
....before the share price starts moving. We have a great gas project, a share in a solar venture and a recently enhanced oil reserve.
I am amazed the price is moving already with the news flows. Any thoughts would be most welcome.
Thanks Jimmy. Very helpful as usual.
It will be interesting to see which announcement at which of the stages you outlined will really shift the share price
Any views on when we can expect to see lab results? Are we talking days, weeks or months?
Thanks Jimmy. I have spent my business career running organisations in the Healthcare IT space so I am very removed from this type of investment and your insights are fantastic for me.
regards,
Given the statement below:
Shell holds a 45% stake in the offshore Petroleum Exploration License 39 (PEL 39) with a 45% interest held by Qatar Petroleum and a 10% held by the National Petroleum Corporation of Namibia (NAMCOR).
Can someone explain to me where Char fit in?
Thanks alot,
Personally I do not think 900,000 of trades is anything material as it is only about £45k. I regularly run single trades of that size.
That said, I have been in ZIOC for 7+ years, having accrued 1.5m shares and I was recently debating whether or not to cut my losses which are an eye-watering £100k and just invest elsewhere. This movement has at least forced me to consider holding off for a few weeks.
At the moment, I cannot see any compelling event to force anyone to do anything with ZIOC, which is very frustrating. It is the worst BoD I have ever come across.
There is so little information flow for the last 12 months, I am very much leaning towards the latter. I have already decided that if there is nothing in the scheduled Sept update I am going to cut my losses and flog the lot (1.5m shares) at a loss of around £90k.
Any other views would be most welcome.