Member Info for Veteran10

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

Thanks both, good points.

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.

In terms of stakeholders we know about so far -

Glencore

CMEC

PSEI

AD Ports

RoC Government

Who is next!

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.

I think he will milk TEK for as long as he can. The company is finished imo. Never going to get back over 20p in a million years.

Let's see what comes of Saudi Arabia. Personally think it will be go over 10p in the run up to the forum. Manara and Vale will both be there. I suspect most of us will be sold up by end of Q1 next year.

Https://www.e-mj.com/breaking-news/smb-winning-wins-bid-for-simandou-blocks-1-2/

Must be where I got my 15b figure from. Either way much more than our current market cap and makes you think a 10 bagger from here is very very doable.

I am referring to the auctions which took place to sell the different Simandou blocks. Sure I saw a figure of 15b somewhere

Disaster of a year for TEK. Woeful management. Not sure the company will survive to be honest. Can see a placing coming at 1p. No one can invest with the current CEO in place. He simply has to go before I personally would be tempted to buy.

That's only your second post since 2012. What have you been doing all that time?

It's all coming down to how much private shareholders will benefit. We have a 50m market cap but Simandou went for 15billion USD? So what will get, it really is hard to fathom.

Morning all,

It does feel like the window for accumulating is closing now. Yesterday's tweet seems to be strong hint - don't worry about the costings - we have them and Saudi, Vale and China are all listening.

Brilliant, thanks Marcus. Now things are heating up!

I guess dilution to existing shareholders in order to raise funds to contribute towards developing could be damaging. However they haven't diluted much in the last 10 years and Elphick is very well aligned with us given he is the 2nd largest shareholder after Glencore.

We obviously need to pay Glencore the loan back too.

A buy out is obviously best for shareholders especially in the dream scenario that China, the Middle East and Japan compete for Zanaga.

That said, this has been a dormant mine for donkey's years. Anything concrete on developing with ZIOC as part of the consortium should still reap huge share price gains from here.

Also depends on what share price you see as ZIOC holders being rich. Some might say 20p, others 50p and many well over 100p.

I assume no one is at the AGM today?

12.5m market cap. How much have TEK raised in the last 2 years????

A chimpanzee could have got a better return.