Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
Sooty.
Yes it's my ideas coming from the extensive research I have done over the past year, underpinning one of the reasons why I am invested here.
I was asked my opinion and simply gave my answer. I'm not saying people have to agree with what I think though.
I do agree with you that the EPP update is extremely important near term and also a reason why I think the record premiums for pellets today is extremely good news for us and this small scale project.
--------
extrader
You are welcome. Reasoned debate is always healthy.
Part 2:
In the weeks leading up to the FOCAC it was generally presumed by both Congolese and Chinese parties that the new mineral port would be signed off, as was the SEZ. The IMF pulled the plug on a debt deal late in the day, and hence the ducks never aligned in Beijing.
However Congo and China met on the sidelines of FOCAC and, as has been reported by the new IMF man and Brazzaville media, agreement is now very close if not 'toute de suite' - immediate.
With the Congolese ministers meeting early next week to sign their departmental budgets, including that of the new port, it would appear we are very close to those ducks getting themselves in a nice orderly line.
Hi extrader. Part one
Yes I agree there has been memorandum after memorandum.
Meeting to schedule another meeting to sign another memorandum and so forth.
Again, we need to go back to the IMF.
The Chinese can finance and build this port with or without the IMF bailout. I've heard that from a reliable source.
The IMF deal as we know needs the RoC to diversify the economy. This diversification of the economy is underpinned by the mineral port please refer to this link:
http://www.adiac-congo.com/content/congo-chine-la-cooperation-de-nouveau-portee-sur-les-plus-hautes-cimes-88602
“As an oil country, Congo is currently in talks with the International Monetary Fund (IMF), with a view to signing an economic cooperation program. The country is facing a crisis due to the lowering of the price of a barrel of oil on the world market. It is for this reason that the government is multiplying ways and means to redress macroeconomic balances.
The envisaged conclusion of a program with the IMF is one of the recommended options, as is the diversification of the national economy based mainly on black gold. There is talk of industrialization, development of agriculture and tourism, improvement of the business landscape to attract foreign capital.
The creation of the Pointe-Noire Special Economic Zone is part of this logic. Realized with the technical and financial support of China, the project would boost the national economy and create some one hundred thousand direct and indirect jobs.
The signing of the agreement concerning the development of this zone marks a crucial step in the process of carrying out the project, the launch of construction will take place in January 2019.“
- - - - - - - -
However, another important part of the IMF deal is that the RoC improves governance and reduces corruption.
China are very keen on that indeed as they don’t want to invest more money and for that to go missing as well.
This can also be seen with them making the Sino-Congo bank earlier in the year. I.e. a check on what money is coming in to the RoC from China and more importantly where it is going.
- - - - - - -
I think the deal for the mineral port is done, but China have said they will only rubber stamp it after the Congo sort out the IMF deal.
As we know there is a new IMF representative in the RoC currently and is looking like a deal will be made very soon on that.
- - - - - -
Then we also have the RoC needing to pay for their share of the project as well.
On Monday this week the ministry for SEZ’s in the RoC submitted their budgetary proposals for next year.
These discussions will finish on September 18th.
- - - - - - -
IMO deal for port is done in principle but waiting for IMF deal to be finalised and RoC funding to be released.
- - - - -
Hi extrader.
I didn't say they prepare the news before the fact at all or you can't rely on the news.
What I said is that some articles in China use information copied from articles reported a few days/weeks before and then any updated developments they add on top to the article from before.
This is from a report of the new port released in June this year. It discusses a single basin design and a double basin design for the new port.
They concluded that the double basin port design is ideal for the new port.
Info from the report here:
"Double Basin Port design
Separate Double Basin port 300,000-ton iron ore loading berths are arranged outside the harbor basin.
The 300,000-ton iron ore berth has no cover, but according to the research results, the open iron ore terminal can still achieve higher working time.
The outer section of the waterway is a 300,000-ton waterway, and the inner channel is a 50,000-100,000-ton waterway. Small channel dredging.
In the first phase of the project, two new 300,000-ton iron ore export terminals will be built, and only the south side single breakwater will be built.
The first phase of the project costs less and the return on investment is high."
-----------
For image of excerpts of the report:
https://twitter.com/TomNic84/status/1039417992201699328?s=20
Hi PBateman. Thanks for your post.
You are correct that the article I posted below originated from 人民网 (People's Daily).
http://news.ts.cn/system/2018/09/04/035363616.shtml
One thing you need to be careful searching for info on Chinese websites is that a lot is copied from other articles written a few days before. I've even been stumped before thinking I had found something but it was old news from a year ago.
As you said it does originate from the People's Daily and this was written on September 3rd 2018. (As you quite rightly state). I.e. Written pre Focac.
However,
The top part of the article is as you said written pre Focac.
I have copied the first paragraph of the article I posted and put it in to Baidu (Chinese search engine) and his article appears many times on numerous other websites.
However, the same articles I checked do not have the paragraph about the Poine Moire Mineral Port News.
Only the website I have sent the link to has that information. I.e. Posted after/towards end of Focac.
Also we need to look at this sentence from the article I posted talking about the Pointe Noire Mineral Port:
在今年的中非合作峰会期间,中国交建成功签署.....
During this year's Sino-African Cooperation Summit, China Communications Construction Company has successfully signed
They use the word 成功 which can be seen in the above translation as successfully I.e. Already happened.
--------
My conclusion is that the article posted has the start copied from a pre Focac article and then the bottom section stating with the bold title below was written post Focac with information about the port.
诚意赢得中非合作新机遇
New opportunities won for Sino African Cooperation
Also this nugget as well...
“During this year's China-Africa Cooperation Summit, China Communications Construction SUCCESSFULLY SIGNED the cooperation agreement for the Msimfbu River Dam project in South Africa and the cooperation protocol for the construction project of the Congo (Brazzaville) POINTE NOIRE NEW MINERAL PORT.”
http://news.ts.cn/system/2018/09/04/035363616.shtml
China Communications Construction company is the parent of China Road and Bridge (CRBC)
On September 7, Deng Yong, Chairman and Party Secretary of China Railway 20th Bureau, met with Congolese President Sassou, who had just attended the Beijing Summit of the China-Africa Cooperation Forum. The two sides conducted in-depth exchanges on cooperation in areas such as infrastructure construction.
At the same time, the China Railway 20th Bureau has also actively bid to participate in the development and construction of the POINTE NOIRE SPECIAL ECONOMIC ZONE.”
https://m.thepaper.cn/newsDetail_forward_2420665
China Railway 20th Bureau, is a subsidiary of China Railway Construction Corporation Limited (abbreviated CRCC). CRRC is a state-owned construction enterprise based in Beijing, China, that is the second largest construction and engineering company in the world by revenue in 2014.
Precisely Moneyman64.
Also with Glencore recently stating in their 2018 half year report backs your points up even further:
"premiums for high quality material, particularly in pelletised form, improved substantially."
Sounds very familiar!
Beautiful MinorMiner.
Thanks for sharing mate.
"Zhuo expects IRON ORE DEMAND TO BE FOCUSED ON HIGH-GRADE FINES AND PELLETS, with mills looking to boost production efficiency"
Sounds very familiar indeed. Good job we have a number of mills currently looking at our product.
Meanwhile...
The ones causing bickering are the ones who have sold out looking for a lower entry.
They feel uneasy in that they might have made the wrong decision.
I get it, I really do. I wouldn't want to be trading this knowing the red dot could appear and then be locked out.
We saw that with the rise to and then fall back to 15.6p the other week and similar posters coming on board to try and manipulate as Johnny said earlier that he likes to do and is a pro at.
That after that last drop to 15.6p, Keith increased his holdings yet again and they got their knickers in a twist again. PMSL
----------
60p for EPP. I'll have to disagree with that.
Before extrader jumps on that comment like a b.itch on heat, workings for the EPP project have been posted countless times and a simple flick through will answer that.
1. NPV update
2. Investor presentation
3. Steel mill making an offtake pellet agreement
4. EPP update
5. IMF bailout
6. Chicken and egg situation with port/financing stage 1 as I so articulately put the other week.
Good luck trading through that minefield and sleep well.
My response so pathetic? Yeh ok sandcrab. Becaue your input here has been so valuable. Final results RNS June 29th 2018: "Achieving further success in Jumelles' product test work continues to support the Zanaga Project team's interest in the Early Production Project" Project update RNS March 8th 2018 "We are pleased to announce the results of the work that has been done over the past few months. Both Glencore and ZIOC teams involved in the project have worked very well together in assessing the new options available to develop the Zanaga Project." --------- Hence my beef with this comment: "no one from Glencore is on the operational team of Jumelles"
extrader no need to have that patronising tone with me. You seem to think you are some authoritative figure on this messgeboard whereby every post needs to have your blessing. How about we turn the tables for once. "no one from Glencore is on the operational team of Jumelles" Prove that little statement. Don't forget to log out and then log back in again.
How much more of this game do we have to play until you've completed your trade? So pathetic. I'm not going to be drawn in to it as that is what you want. I suppose that's the onlyway some can try and win at this game with Zioc as no spiv placings. Divert. Change topic. Talk sh.it. Instead I'll enjoy my weekend and hopefully I'll be able to find somore more info to share on this message board and help aid us genuine holders. Wish all genuine holders a good weekend.