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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.
They could still release after close or 7am tomorrow. Good to see activity today.
Problem is they are not getting a good price again for these shares by doing it so quickly. I don't like Shard and this method raising money. No point investing if they stifle the share price every time good news is released.
ET - Did AT come back to you or still silent?
The Baosteel buyout of Aquila and the West Pilbara iron ore project was mentioned in the Zanaga presentation back in 2015. Just wondering of people see a similar outcome here and if it is a fair comparison to use?
Morning ET,
Thanks for this, it's good that they at least interacted with you. I think the questions show you are well researched and they must know there is a big group of us all with big stakes and following this closely.
The whole Saudi trip for Christmas is very intriguing. From a family point of view that was a big sacrifice from the team there. I hope there is a deal in the background and that is the reason they haven't called back.
Https://english.news.cn/20240101/a1e840b648804ecabad40a0f3f977ddf/c.html
''We are from 2024 a mining nation... we are going to see regional explosion of the industry."
Saito referred to the cooperation agreement between Manara Minerals Company and the Japan Organization for Metals and Energy Security (JOGMEC), which is affiliated with the Japanese government.
The memorandum aims to promote cooperative mining investments and establish projects in third countries, focusing on Africa and Latin America.
The Japanese Minister told Asharq Al-Awsat that Tokyo intends to establish new joint projects in third-party nations, starting with African countries, fortifying supply chains.
https://english.aawsat.com/business/4755541-japan-looks-forward-launching-joint-int%E2%80%99l-investments-saudi-arabia
I guess we have summed up the dilemma there. Out market is 67m odd. Will the Saudis pay 600 to 800m USD for 20%. Factor in the small free float here as most of the shares are held by Glencore, Elphick and Everitt. Wouldn't they at least buy what they can at market price or is that such small fry they don't bother?
Interesting posts this morning. I can understand the too good to be true slant from Duster, as we all know how that usually turns out. I think that feeling probably has held some back from investing more than others. Zanaga has been a dormant asset for over a decade, it listed at 156p and there hasn't been huge dilution since then. We are now closer than ever to being developed and know the names of various stakeholders and have a time line. All great news. Where I am unsure on future share price is do Zanaga need to bring more to the table? Are RoC just going to let ZIOC be bought out for a £1 plus without doing much with the asset? Are potential buyers going to think the same? I am excited about Marty Knaith joining and the detailed study which is now into phase 2, this does add value and progress Zanaga towards development. So how much is that worth to us? That's the question I think we are all struggling with! I think ZIOC see the share price as irrelevant and will want a deal based on the value of Zanaga as per independent studies. If so, this is a big multibagger and potential life changer for many of us in my opinion.
Looks like over half of tranche 2 has gone already looking at the late trades since that was announced. There is an article by S&P on the iron ore outlook. It references the lack of high grade quality needed for pellets. Everything here is pointing towards Zanaga being developed.
Such a shame this one but I think most lost faith in the management as they never met their own deadlines. The long awaited deal was not great either. ZIOC is the one for 2024 imo. Newsflow really kicking off there and original IPO was 156p compared to 11p now.
Just got out of bed. You have all been busy this morning! This newsflow deserves more press. I note Wood Mackenzie are at the minerals forum presenting on the future of Saudi Arabia and its potential as a mining country. Maybe someone from ZIOC should tell them to update their Zanaga report too.