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Well the company appointed a CEO, told us news is coming in Q1 and they also said they were in Saudi Arabia in January to further discussions with potential strategic partners. The stockmarket has just become like driving nowadays. Everyone is impatient, pulling out and not giving much thought to things. I agree the share price is terrible. Hoping this is games before big news.
I did get a response from the company this week. I was asking when shareholders can expect to hear directly from the new CEO. I was told it was a fair question and they are planning this but to be patient for a little longer whilst the company are working on some things beforehand.
And you don't appoint a CEO for the first time in 10 years if nothing is happening. Like others here, I have emailed ZIOC but have had no reply. I note the bigger 100k trades still look like buys most days too. The waiting is the hardest part for us.
Agree on Vale being the favourites. A little disappointed about the FMF, not much came of it at least in terms of public news. Like many I just want to realise my investment here in the first half of 2024.
Https://www.bnamericas.com/en/news/brazils-vale-faces-growing-pressure-to-expand-iron-ore-production
Vale has lost a lot of ground in global iron ore production and perhaps to recover this lost ground it will have to look at iron ore assets outside the country,” Tito Martins, a former Vale executive and ex-CEO of Nexa Resources, told BNamericas.
Royston, I see it as positive. Highlights the value of Zanaga's high grade ore. I think different countries are trying to secure mineral resources too hence the demand is there for Simandou and Zanaga. The feeling is Saudi Arabia, Japan and obviously China are all after more high grade iron ore even with Simandou being developed.
funny how articles keep saying there is nothing like simandou elsewhere. there is! zanaga has the high grades which are in high demand too. when will a journalist write about that i wonder. i saw an article saying ****stan and saudi a are doing a deal on a copper asset at the fmf. shows it is the venue for deal making.
Saudis announce a buyout of Zanaga this week....that is the dream!
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https://www.ft.com/content/80f37963-c718-4f8b-8d77-0f0d5b1c99fe
The difference between 2016 and today is that Simandou’s high-grade ore is now even more attractive, given the need to decarbonise steelmaking, according to Baatar.
“The fundamental shift in the last number of years has been that the world is far more in agreement on climate change,” he said.
The steelmaking process, which usually uses coke to produce iron from ore in a blast furnace and then turn it into steel, is highly carbon-intensive, producing about 8 per cent of global carbon emissions.
To cut emissions, the industry is exploring alternative approaches, such as direct reduced iron technology in which the ore is treated using hydrogen and carbon monoxide, rather than coke. Such processes require high-grade iron ore, which is increasingly hard to find in large quantities.
The ore Rio Tinto plans to extract from Simandou has an average iron content of greater than 65 per cent, among the highest in the world. Baatar calls it the “caviar of iron ore”.
I have been reading through old Zanaga presentations too. I came across an article whereby a Citigroup analyst felt the mostly likely partner option would be the new partner buying Zanaga's half of the project and working with Xstrata (Glencore now). Obviously Zanaga now has full ownership but I wonder if a similar outcome could still happen, 50% sold to the new strategic partner etc. Could be they are waiting for that before putting Marty Knauth on the board. Share price would rocket, funding would be secured to take the mine to development. Glencore are happy, we are happy etc.
Https://www.proactiveinvestors.co.uk/companies/news/37181/zanaga-iron-ore-company-looks-to-capitalise-on-world-class-discovery-44465.html
If...IF...this project is finally about to come to life, our 64m odd market cap is going to explode.