Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Poppies,
I hope you are right but I am prepared to be underwhelmed and even for the disappointment of no announcement at all until next week!
I dearly hope I am wrong on both counts.
The more I have thought about todays announcement for a 2 week delay to publishing the cost results the more intriguing I have found it.
If you run a project for nearly 7 months, you either bring it in on time or miss it by several weeks. The reason is that a couple of weeks is usually recoverable to hit the deadline or you miss by a mile and have to reset expectations.
It does make me wonder if there will be further announcements due with the exercise and that the cost results are already completed.
Of course, I could be reading far too much into this.
Folks,
The re-costing exercise is a vital component to attract any investor. It was undertaken because it is expected to come out a lot cheaper than the original one done. Not investor would even entertain this without it.
IMO this will be good news at it will remove one more barrier to either investment or sale.
regards,
Very interesting article. Thanks for posting.
It does raise some doubt over whether zanaga would be developed in parallel. Not a mention of such a high grade reserve in the article. Would be nice to think the aussies would buy us out to stop the Chinese getting their hands on it,or even the same could be said for the arabs.
Personally, I think if there is no update of significance this quarter I will have some real doubts but I will probably hold on for the year then that will be it for me.
I have emailed him today with a question about news flow and a question about directors shares
My view is there will either be a technical announcement today or a delay because there is something more material. what would be unacceptable is a delay to a technical announcement only.
I always remember the Warren Buffett quote "The stock market is a device for transferring wealth from the impatient to the patient"
This board has always been very constructive. Lets not get drawn into mud slinging and personal insults rather than focus views that might be thought provoking or, even better, informative.
Does anyone know if ZIOC Directors are still taking salaries in shares?
I seem to remember they were at one point but that was months ago.
I will not be disappointed if we get a bit of a can kicking RNS this week. AT is only issuing an update because he has to, not necessarily because he can announce something material.
If we get any indication of a development of significance it will be a huge bonus.
Any thoughts anyone?
Extrader,
Thanks for this. Good context. I was kind of there in my head but needed to be 100% sure.
Regards,
I have lost track a little of this element of the ZIOC venture.
Could someone please explain the significance. Thanks,
Popples,
Although I have a lot of investments outside of this, I have to admit I have more in this than I should! I have been sucked into more and more over the last 3 or 4 years as the project has progressed. I normally stay fairly clear of aim shares as I have been stung in the past with BoD's offering false promises to the point of being fraudulent. When I ran a PLC, we were meticulous in making sure we were transparent with our investors and shareholders.
However, Zioc, unlike many aim stocks, actually has the product already and one that people need, so it is more a case of when they can finance it and get the logistics in place. They are not surviving on the promise of producing a great product in the future like many of the biotechs and software businesses on aim, who are also running with significant cost bases.
I hope all the long term holders make a small fortune for their patience.
Buyers etc.. may well be lined up but until agreements, even MoU's, are in place, they still cannot speculate in an announcement.
The most I expect next week is an update on the re-costing exercise. Although I would love to be proved wrong as I have a six figure investment in this.
If AT is wrapped up in any sort of deal discussion you will not get a reply through fear of letting even the tiniest bit of info out at this stage.
It has occurred to me that the deal might be with the arabs, given AT is in Dubai. They are desperate to invest their fortunes elsewhere as the inevitable demand for oil falls over the next 20 years.
Sit tight and buckle up, we might just be in for a fast ride at last.
Jiving,
That was also my point in my "Current Position" post a few days ago as 1 of 3 things that could be potentially a bad outcome. Whilst I don't think they are likely, they have to be considered and I was interested in other views on the board.
Personally, I think the silence is good news. If there was nothing much to update us on, history tells us this BoD are experts at doing that and would have done so.
This leaves us with 2 options, good news or bad news. We all know the various good news scenarios so what are the bad ones? I can only see 3 but I am no expert in this stock or industry :
1. Cash issues - unlikely given their burn rate
2. Licence lost after fallout with government - no idea if this is possible
3. Cost exercise revealed increase - not likely given the experts they have around them. One would think they would not have even contemplated redoing this unless they thought it would be a positive result.
Any thoughts welcome.
AT announced back in Sept time (or thereabouts), that they needed to do a re-cost because they believed costs had fallen significantly due to market conditions etc.. and that the exercise would take around 6 months so it is due any time now. I seem to remember this was on one of the proactive investor videos one of the good folk on this board posted.
If it falls 25%, that will have a material impact on any risk calculator an investor will use.
I think the re-costing exercise is a pre-requisite to any sale. I have done several acquisitions in the past and if i were a potential buyer, I would want to know the detail of this prior to any offer.
The only announcement I think we will get this quarter is the results of the re-costing, which must be imminent.
Agreed. I have only been a holder for about 4 years so I am a newcomer!
I don't know alot about mining but it seems to me that the recosting exercise seems fundamental to attracting an investor. Everything else is lined up but any investor would want to be clear about the costs first.
I can see a route to a deal but the process will take us until Q3/Q4
Glencore announce their year end results tomorow. With all the press items about demand for iron ore and particularly high grade iron ore in the future, I wonder if Zanaga will be mentioned in their commentary
What do you mean by lodged? Thanks